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Comovements in Corporate Waves
Colak, Gonul - 2010
This paper analyzes the common factor that drives the cyclical movements in the corporate event waves. We show that this common corporate factor is closely linked to the economic business cycles. We, first, document the statistical and the time-series properties of the corporate event waves to...
Persistent link: https://www.econbiz.de/10012715310
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Do mergers create or destroy value? Evidence from unsuccessful mergers
Cole, Rebel; Fatemi, Ali; Vu, Joseph - Volkswirtschaftliche Fakultät, … - 2006
literature on signaling by investigating whether a takeover attempt signals investors about the quality of firm management as …In this study, we examine unsuccessful takeover attempts for new evidence on whether mergers create or destroy value …
Persistent link: https://www.econbiz.de/10005837001
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The Wealth Effects of Takeover Announcement for Firms in the Financial Services Sector in India
Chakraborty, Madhumita - In: Journal of Emerging Market Finance 9 (2010) 2, pp. 199-227
findings suggest that the shareholders of target firms earn significantly positive abnormal returns on takeover announcements … firms, there was no market reaction on takeover announcements. Apparently, there was some evidence that bidders experienced … post-event positive wealth effects on takeover announcements. But this was not true for the majority as the significant …
Persistent link: https://www.econbiz.de/10010772763
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DO M&A ENHANCE VALUES? MIXED METHODS AND EVIDENCE
SOONGSWANG, Amporn - In: Journal of Applied Economic Sciences 7 (2012) 3(21)/ Fall 2012, pp. 312-325
This study features the impact of takeovers on the event firms traded on the Stock Exchange of Thailand (SET). The study investigates a long-window abnormal return, or during a period of twelve months before and after the announcements using several metrics. The traditional models and the latest...
Persistent link: https://www.econbiz.de/10011139810
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How do Mergers and Acquisitions Affect Bondholders in Europe? Evidence on the Impact and Spillover of Governance and Legal Standards
Renneboog, Luc; Szilagyi, P.G. - Tilburg University, Center for Economic Research - 2006
This paper contributes to the comparative corporate governance literature by showing how cross-country differences in governance and legal standards affect the bondholder wealth effects of European merger and acquisitions (M&As).Using investment-grade Eurobonds, we find some remarkable...
Persistent link: https://www.econbiz.de/10011090642
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Der Markt für Unternehmenskontrolle : eine ökonomische Analyse vor dem Hintergrund des deutschen Gesellschaftsrechts
Flassak, Hansjörg - 1995
Persistent link: https://www.econbiz.de/10009589183
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Higher order approximations of IV statistics that indicate their properties under weak or many instruments
Kleibergen, Frank - Econometric Society - 2004
We show that the higher order biases of instrumental variable statistics in the strong instrument case indicate the degeneracy of the first order asymptotic distributions of these statistics under weak or many instrument asymptotics. We express the higher order approximations using an estimator...
Persistent link: https://www.econbiz.de/10005328971
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Bayesian Reduced Rank Regression in SEMs with Weak Identification
Lahiri, Kajal; Kim, Jabonn - Econometric Society - 2004
This paper is concerned with Bayesian reduced rank regression when instruments are weak. There have been a number of studies on weak identification problem with the application of reduced rank regression combined with singular value decomposition (SVD) method in the Bayesian framework, see...
Persistent link: https://www.econbiz.de/10005086424
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Conditional posteriors for the reduced rank regression model
Karlsson, Sune - Handelshögskolan, Örebro Universitet - 2012
The multivariate reduced rank regression model plays an important role in econo- metrics. Examples include co-integration analysis and models with a factor struc- ture. Geweke (1996) provided the foundations for a Bayesian analysis of this model. Unfortunately several of the full conditional...
Persistent link: https://www.econbiz.de/10010550569