Stock market mergers show no significant impact on company returns
The article analyzes abnormal returns before and after mergers and acquisitions announcements in 2018. The researchers looked at 9 companies listed on the IDX and studied a three-day period around the announcements. They used market-adjusted returns calculated from stock prices every 15 minutes. The results showed that there were no significant differences in abnormal returns before and after the announcements for each 15-minute period.