We examine open market stock trades by registered insiders in about 3700 targets of takeovers announced during 1988 …-in-differences regressions of several insider trading measures, we find no evidence that insiders increase their purchases before takeover … takeover completion, such as friendly deals, and deals with a single bidder, domestic acquirer, or less regulated target. The …

impact on the takeover returns. Our country-level corporate governance indices capture the changes in the quality of the … orientation (relative to the target), part of the total synergy value of the takeover may result from the improvement in the … governance of the target assets. In full takeovers, the corporate governance regulation of the bidder is imposed on the target …

examining how merger bids and terminations affect the relative values of bidders attempting diversifying and focusing takeovers …In this study, we examine unsuccessful takeover attempts for new evidence on whether mergers create or destroy value … literature on signaling by investigating whether a takeover attempt signals investors about the quality of firm management as …

governance and legal standards affect the bondholder wealth effects of European merger and acquisitions (M&As).Using investment …

takeover activity. In an asymmetric industry equilibrium, firms have an endogenous incentive to merge when restructuring … magnitude of returns arising from restructuring to both merger firms and rival firms are higher in more concentrated industries …

This paper studies the interaction between product market competition and takeover activity. We develop a dynamic model … in which profit-maximizing production decisions of all firms in an industry as well as the timing and terms of a merger … consistent with the available evidence. For example, takeover activities are more likely in more concentrated industries or in …

We examine the relationships between the wealth changes associated with a takeover announcement to distinguish between … predominant explanation for the majority of takeovers in Australia; however, the evidence is consistent with the simultaneous … presence of hubris in value-creating takeovers. The evidence also suggests agency, not hubris, is the primary motivation for …

takeover announcement for a sample of target, bidder and control (non-target) companies. Under the hypothesis that agents with … takeover announcement. These variables were durations between trades, the surprise in durations, spreads and trading volumes …. It was concluded that the intraday trading behaviour for takeover targets was affected by traders who held private …