Regime Effects of EU Market Integration Policies on the UK Financial Sector

Standard equity capital market methods are used to estimate the share price effects in the UK market of the recent change in regime implied by passage of key provisions implementing the European single banking market. Empirical results indicate that events associated with increasing the likelihood o...

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Bibliographic Details
Published in:Review of industrial organization 1999-12, Vol.15 (4), p.357-365
Main Authors: FEINBERG, ROBERT M., HARPER, RICHARD K.
Format: Article
Language:English
Subjects:
Acquisitions & mergers
Antitrust
Bank markets
Banking
Banking regulation
Banking services
Banking system
Business structures
Capital market
Capital markets
Commercial regulation
Competition
Economic concentration
Economic regulation
Economic theory
Equity capital
Europe
European Union
Financial analysis
Financial regulation
Financial services
Free trade
Industrial regulation
Market positioning
Mergers
Provisions
Regulation of financial institutions
Regulatory approval
Stock markets
Studies
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Description
Summary:Standard equity capital market methods are used to estimate the share price effects in the UK market of the recent change in regime implied by passage of key provisions implementing the European single banking market. Empirical results indicate that events associated with increasing the likelihood of passage of the new Merger Control Regulation and the Second Banking Directive had positive valuation effects for the portfolio of UK firms involved in banking services.
ISSN:0889-938X
1573-7160
DOI:10.1023/A:1007723714499