responds more to increases in shareholders' return performance than to decreases. Further, this asymmetry is stronger when …

the announcement day return of bidding firms. The returns to bidding shareholders are lower when their firm diversifies …, when it buys a rapidly growing target , and when the performance of its managers has been poor before the acquisition …. These results are consistent with the proposition that managerial rather than shareholders' objectives drive bad …

the announcement day return of bidding firms. The returns to bidding shareholders are lower when their firm diversifies …, when it buys a rapidly growing target , and when the performance of its managers has been poor before the acquisition …. These results are consistent with the proposition that managerial rather than shareholders' objectives drive bad …

responds more to increases in shareholders' return performance than to decreases. Further, this asymmetry is stronger when …

offering both medical education and business education have higher management quality, more MBA trained managers and lower … management practices and skills in hospitals across nine countries. We find that hospitals that are closer to universities …