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Title: The Efficacy of Market Abuse Regulation in the UK
Authors: Lambe, B. J.
First Published: 2016
Citation: Journal of Financial Regulation and Compliance (in press)
Abstract: Analyzed in this study are the returns on stock prices of target companies surrounding the first publicized dates of completed takeovers in the UK between 2001 and 2010. Our sample is analyzed with respect to the event dates at which news of the takeover reaches the market both through a rumored date and official announcement . Statistically significant cumulative average abnormal returns (CAARs) prior to the event date are observed across the sample. This may indicate that trading on material nonpublic information is still a contributory factor in the run-up proportion of takeover premiums, thus drawing a question over the efficacy of the regulatory system.
ISSN: 1358-1988
Embargo on file until: 1-Jan-10000
Version: Post-print
Type: Journal Article
Rights: Copyright © Emerald Publishing.
Description: The file associated with this record is under a permanent embargo while publication is In Press in accordance with the publisher's self-archiving policy, available at
Appears in Collections:Published Articles, School of Management

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