Ghosh, Chinmoy; Petrova, Milena; Xiao, Yihong - In: Journal of International Money and Finance 31 (2012) 7, pp. 1953-1970
We examine the combined impact of corporate governance and excess cash holdings on the propensity of firms to become bidders and engage in value destroying acquisitions. We focus on the REIT market, due to its unique characteristics caused by regulation and the nature of the industry. The lack...