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The objective of this study is to analyse investors' perceptions of sponsorship's ability to increase brand equity …, through the impact of sponsorship announcement on stock market value. An event study method, based on a unique sample of 293 … worldwide sponsorship announcements from 2010, shows substantial negative abnormal returns following announcement dates. In …
Persistent link: https://www.econbiz.de/10013062492
The period of 2010-2012 was characterized by information uncertainty and market volatility. Information uncertainty is a critical characteristic of financial market behavior. The ability to absorb and distribute information is central to financial market efficiency. Uncertain corporate earnings...
Persistent link: https://www.econbiz.de/10013013687
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I collect 1,186 reported estimates of long-run value creation from 49 studies and present the first meta-analysis of the literature on shareholder activism and its effect on firm value in the longrun. This synthesis is necessary because shareholder activism is increasing over time and across...
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Purpose - The purpose of this research is to study the impact of divestitures on shareholder wealth. This study covers selloffs of publicly traded companies in Germany, Austria and Switzerland (DACH region) during the period 2002-2018. It aims to understand the overall effect of selloffs on...
Persistent link: https://www.econbiz.de/10012822022
This paper analyses lawsuits against shareholders' resolutions according to the German Stock Corporation Act (AktG) and the German Reorganisation Act (UmwG). A merger passed at the General Annual Meeting will not move forward as long as any lawsuit is pending with a court. In particular, mergers...
Persistent link: https://www.econbiz.de/10013058808
China's markets gained 3.86% around December 4, 2012, when the Party announced anti-corruption reforms. State-owned enterprises (SOEs) with higher past entertainment and travel costs (ETC) gained more. NonSOEs gained in more liberalized provinces, especially those with high past ETC,...
Persistent link: https://www.econbiz.de/10014514082
This study analyzes the effect of changes in corporate control on the way shareholders benefit from the announcements of selling and buying airlines, thus contributing to the literature on mergers and acquisitions (M&As) in emerging markets. Using a methodology of event study, including GARCH...
Persistent link: https://www.econbiz.de/10013029644