Research indicates that at the time of a takeover announcement, target firm shareholders receiving cash earn larger abnormal returns than those receiving stock. Our work confirms that cash targets receive larger direct payments from bidders and that the size of target firm abnormal returns is...

This paper examines whether high insurance rates are possibly the result of an insurer’s discriminatory expense loading in heavily regulated insurance lines. The conclusion is, from a total expenses basis, that insurance companies are not unfairly loading expenses on heavily rate-regulated...

On March 28, 1979, a combination of mechanical and operator errors caused the core at the Three Mile Island nuclear power plant to overheat. Using event methodology, this paper examines the effect of this incident on shareholder wealth of a sample of property and liability insurers who were...

Purpose – This study seeks to analyze the differences between merger cancellations and three types of takeover failures: failures that are associated with targeted share repurchases (greenmail), failures in which the sole bidder simply withdraws the offer, and failures that are accompanied by...

Purpose – This paper aims to investigate an interesting yet mostly ignored distinction within external CEO successions: outside successors who have previous CEO experience and those who do not. It examines stock market reaction, compensation and firm performance prior and post-succession....