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CEO Accountability for Corporate Fraud : Evidence from the Split Share Structure Reform in China
Chen, Jiandong - 2014
We use institutional-related theories and a unique natural experiment that enables an exogenous test of the influence of controlling shareholders on managerial accountability to corporate fraud. In China, prior to the Split Share Structure Reform (SSSR), state shareholders held restricted shares...
Persistent link: https://www.econbiz.de/10013067702
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The Value of Home-Country Governance for Cross-Listed Stocks
Cumming, Douglas J. - 2014
Governance has many dimensions – corporate governance pertains to the firm's management whilst sovereign governance pertains to the firm's exposure to sovereign risk, corruption, and poor regulation. We show that both are important drivers of firm value and this has serious implications for...
Persistent link: https://www.econbiz.de/10013069082
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CEO Accountability for Corporate Fraud : Evidence from the Split Share Structure Reform in China
Chen, Jiandong - 2016
We use institutional-related theories and a unique natural experiment that enables an exogenous test of the influence of controlling shareholders on managerial accountability to corporate fraud. In China, prior to the Split Share Structure Reform (SSSR), state shareholders held restricted shares...
Persistent link: https://www.econbiz.de/10013008262
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The Value of Home-Country Governance for Cross-Listed Stocks
Cumming, Douglas J. - 2014
Governance has many dimensions - corporate governance pertains to the firm's management whilst sovereign governance pertains to the firm's exposure to sovereign risk, corruption, and poor regulation. We show that both are important drivers of firm value and this has serious implications for the...
Persistent link: https://www.econbiz.de/10013056258
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CEO Accountability for Corporate Fraud : Evidence from the Split Share Structure Reform in China
Chen, Jiandong - 2014
We use institutional-related theories and a unique natural experiment that enables an exogenous test of the influence of controlling shareholders on managerial accountability to corporate fraud. In China, prior to the Split Share Structure Reform (SSSR), state shareholders held restricted shares...
Persistent link: https://www.econbiz.de/10013059619
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Run-Up of Acquirer's Stock in Public and Private Acquisitions
Cumming, Douglas J. - 2010
Acquisition announcements generate predictable movements in the price of the acquirer's stock. For example, post-announcement returns are typically negative for high Tobin's q acquirers, stock transactions, and foreign targets, but positive for private equity-backed private targets....
Persistent link: https://www.econbiz.de/10013136477
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Run-Up of Acquirer’s Stock in Public and Private Acquisitions
Cumming, Douglas J. - 2014
Manuscript Type: EmpiricalResearch Question/Issue: This paper empirically examines whether there is pre-announcement movement of an acquirer's share price and trading volume prior to the announcement of acquisitions in ways consistent with insider trading. Prior papers focus on insider trading...
Persistent link: https://www.econbiz.de/10013069704
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Run-Up of Acquirer's Stock in Public and Private Acquisitions
Cumming, Douglas J. - 2010
Acquisition announcements generate predictable movements in the price of the acquirer's stock. For example, post-announcement returns are typically negative for high Tobin's q acquirers, stock transactions, and foreign targets, but positive for private equity-backed private targets....
Persistent link: https://www.econbiz.de/10013148707
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Does speculative news hurt productivity? : evidence from takeover rumors
Andres, Christian; Bazhutov, Dmitry; Cumming, Douglas J.; … - 2021
Takeover speculation may hurt productivity because uncertainty and threat of job loss cause anxiety, distraction, and … productivity temporarily declines after announcements of speculative takeover rumors that do not materialize. This productivity dip … news, which are common in financial markets, and the costs of the takeover threat. …
Persistent link: https://www.econbiz.de/10012816126
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Does speculative news hurt productivity? : evidence from takeover rumors
Andres, Christian; Bazhutov, Dmitry; Cumming, Douglas J.; … - 2021 - [Vers. 04/2024]
announcements of takeover rumors that do not materialize. Such speculative news may hurt productivity because uncertainty and threat … effects of speculative financial news and the costs of takeover threats. …
Persistent link: https://www.econbiz.de/10014540304