Do Investors View Excess Capacity as a Determinant of Mergers and Acquisitions in the Pharmaceutical and Biotechnology Industry?
I examine investors’ reaction to the announcement of mergers and acquisitions in the pharmaceutical and biotechnology industry from 2002 to 2008. Over this period, investors anticipate the announcements, as demonstrated by the fact that the cumulative abnormal returns are not statistically significa...
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| Format: | Others |
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Scholarship @ Claremont
2010
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| Online Access: | http://scholarship.claremont.edu/cmc_theses/15 http://scholarship.claremont.edu/cgi/viewcontent.cgi?article=1005&context=cmc_theses |