@prefix dcat: <http://www.w3.org/ns/dcat#> .
@prefix dct: <http://purl.org/dc/terms/> .
@prefix foaf: <http://xmlns.com/foaf/0.1/> .
@prefix vcard: <http://www.w3.org/2006/vcard/ns#> .
@prefix xsd: <http://www.w3.org/2001/XMLSchema#> .

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    dct:description """
              The aim of this paper is to examine the positive and negative impacts of stock exchange mergers on the informational efficiency of the markets. We consider a range of factors in relation to the stock exchange merger, that can potentially affects market efficiency, after a merger. These factors include the maturity of the markets being merged, the size of the markets, and different types of mergers (developed markets versus developing markets; large stock exchange mergers versus small stock exchange mergers; and domestic stock exchange mergers versus cross-border stock exchange mergers). For this purpose, we use a time-varying return predictability test which allows us to detect periods of (in)efficiency, and thus to conduct a comparative analysis for pre-merger and post-merger periods. We find that increases in efficiency are less frequent than decreases in efficiency after a stock exchange merger. Finally, we provide the empirical evidence that the impact on efficiency depends on range of the characteristics of the merger: stock exchange's country's level of development, size, geographical diversification and industrial diversification.
            """ ;
    dct:identifier "hal-00940105" ;
    dct:issued "2026-05-07T04:14:18.832728"^^xsd:dateTime ;
    dct:language "en" ;
    dct:modified "2026-05-07T04:14:18.832732"^^xsd:dateTime ;
    dct:publisher <https://rec.harvest-normandie.data4citizen.com/organization/cce9db95-46d9-4dc2-84b6-764215d0a002> ;
    dct:title "Stock Exchange Mergers and Market Efficiency" ;
    dcat:contactPoint [ a vcard:Organization ;
            vcard:fn "CCSD" ] ;
    dcat:distribution <https://rec.harvest-normandie.data4citizen.com/dataset/oai-hal-hal-00940105v1/resource/2a3fc5ff-f264-47cd-8712-1a661a4e9119> ;
    dcat:keyword "infoeu-reposemanticspreprint",
        "jel-c---mathematical-and-quantitative-methodscc1---econometric-and-statistical-methods-and-method",
        "jel-g---financial-economicsgg1---general-financial-marketsgg1g14---information-and-market-effi",
        "jel-g---financial-economicsgg1---general-financial-marketsgg1g15---international-financial-mar",
        "market-efficiency",
        "martingale-difference-sequence",
        "preprints-working-papers-",
        "shsecohumanities-and-social-scienceseconomics-and-finance",
        "shsgestionhumanities-and-social-sciencesbusiness-administration",
        "stock-exchange-mergers" ;
    dcat:landingPage <https://hal.science/hal-00940105> .

<https://rec.harvest-normandie.data4citizen.com/dataset/oai-hal-hal-00940105v1/resource/2a3fc5ff-f264-47cd-8712-1a661a4e9119> a dcat:Distribution ;
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    dct:issued "2026-05-07T04:14:18.834376"^^xsd:dateTime ;
    dct:modified "2026-05-07T04:14:18.820943"^^xsd:dateTime ;
    dct:title "Stock Exchange Mergers and Market Efficiency" ;
    dcat:accessURL <https://hal.science/hal-00940105> .

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