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Australian Takeovers: Capital Market Efficiency and Shareholder Risk and Return

Walter, Terry S. - In: Australian Journal of Management 9 (1984) 1, pp. 63-118

considered. Two issues are addressed. Firstly, takeovers are viewed in terms of corporate investment decisions; the profitability …

Persistent link: https://www.econbiz.de/10010769557

Public versus private takeovers of Australian stock exchange listed targets

Bugeja, Martin; Sinelnikov, Kosta - In: Australian Journal of Management 37 (2012) 3, pp. 391-414

characteristics of target firms, in the context of Australian takeovers. Similar to the US, target abnormal returns are significantly …

Persistent link: https://www.econbiz.de/10010604027

Takeovers and Corporate Raiders: Empirical Evidence from Extended Event Studies

Casey, Roger; Dodd, Peter; Dolan, Phil - In: Australian Journal of Management 12 (1987) 2, pp. 201-220

wealth effects from corporate takeovers. The extended methodology is applied empirically to examine the observed abnormal … returns surrounding corporate takeovers in Australia using daily price data. The wealth effects from takeovers involving … takeovers initiated by both raiding and non-raiding firms result in significant positive abnormal returns, although acquiring …

Persistent link: https://www.econbiz.de/10010769358

A Comparison of Two Widely Applied Models of Shareholder Returns in the Context of Takeover Offer Gains for Australian Bidders

Simmonds, David P. - In: Australian Journal of Management 28 (2003) 1, pp. 23-61

The impact of different modelling and testing procedures is explored on inferences concerning expected acquisition benefits to bidding shareholders. Two widely accepted return models are examined and found to imply different outcomes for Australian bidding shareholders, despite controlling for...

Persistent link: https://www.econbiz.de/10010769385

Assessing Competition in The Market for Corporate Control: Australian Evidence

Brown, Philip; Horin, Andrew - In: Australian Journal of Management 11 (1986) 1, pp. 23-50

sense. We use Australian data to replicate Ruback's test. Our results mirror Ruback's, in that 58 out of 72 takeovers were …

Persistent link: https://www.econbiz.de/10010769407

Company Takeovers and the Australian Equity Market

Dodd, Peter - In: Australian Journal of Management 1 (1976) 2, pp. 15-35

study employs the two parameter asset pricing model and allows for shifts in risk.Any gains arising from takeovers are won …

Persistent link: https://www.econbiz.de/10010769439

Research Method and the Longâ€Run Perfor Mance of Acquiring Firms

Brown, Philip; Rosa, Raymond da Silva - In: Australian Journal of Management 23 (1998) 1, pp. 23-38

The longâ€run perfor Mance of successful bidders in a takeover has been controversial. We assess their longâ€run perfor Mance by controlling for survival, firm size, and measurement bias in return cumulation. Measures of the perfor Mance of acquiring firms relative to control firms are...

Persistent link: https://www.econbiz.de/10010769512

Directors' Recommendations in Response to Takeover Bids: Do They Act in Their Own Interests?

Eddey, Peter H.; Casey, Roger S. - In: Australian Journal of Management 14 (1989) 1, pp. 1-28

The extent to which directors of target companies act in their own interests, and not shareholder interests, when a takeover bid is received is examined using data from 400 takeover bids for Australian listed companies. A series of hypotheses is developed from theoretical inquiry into the...

Persistent link: https://www.econbiz.de/10010769590

The Share Market's Assessment of Initial Acquisitions by Seven Controversial Investors

Dechow, Patricia - In: Australian Journal of Management 12 (1987) 1, pp. 23-48

Recent years have seen an increase in takeover activity in the Australian share market. During this time several of the more active investors have been assigned the image of â€œcorporate raiderâ€ by the media. This study looks at the share market reaction to seven such investors, namely,...

Persistent link: https://www.econbiz.de/10011135763

Pre-Bid Acquisitions and Substantial Shareholder Notices

Bishop, Steven R. - In: Australian Journal of Management 16 (1991) 1, pp. 1-33

Share price changes of approximately 10â€“13% are found at the time of the announcement of substantial shareholdings. These price adjustments are interpreted as being consistent with the market reassessing the probability of an impending takeover offer rather than a reassessment of the...

Persistent link: https://www.econbiz.de/10011135818