We investigate acquiring firms of 1148 M&A in the two Chinese stock markets. Using the market model, the CAPM model and the buy-and-hold method, we find significantly positive abnormal returns before (6 months) and upon M&A announcements, while the long-run abnormal returns (6 months)...

We examine whether military regimes harm stock market performance by investigating stock returns in ten emerging markets under military and civilian rule. We find no evidence of military regimes having a significantly negative impact on stock returns. In the case of Thailand and Pakistan, we...

This paper divides Chinese A-Share IPO initial returns into the initial return in the primary market and in the secondary market. Our empirical evidence shows that the initial abnormal return in the secondary market is significantly positive. This study also finds that 1) the initial return in...