Stock market performance

David R. King

Chapter 143 in Elgar Encyclopedia of Mergers and Acquisitions, 2026, pp 386-387 from Edward Elgar Publishing

Abstract: This chapter assesses stock market measures of acquisition performance, including short-term event studies and long-term stock returns like Buy and Hold Abnormal Return (BHAR) and Jensen's Alpha. It highlights the advantages, challenges, and methodologies of these measures, emphasizing their use in evaluating M&A success. The chapter underscores the role of market efficiency, transaction timing, and payment methods in determining shareholder value during and after acquisitions.

Keywords: Abnormal returns; Buy and hold returns; Event window; Jensen's alpha (search for similar items in EconPapers)
Date: 2026
ISBN: 9781800880856
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