This paper investigates the association between industry concentration and stock returnon equity, persistence of returns and market to book value ratios of stocks in Australiabetween 1991 and 2003. During this period the market to book value ratios of firmsincreased steadily. Consistent with...

This paper addresses the question of whether independent directors of the bidding firm are effective monitors during acquisitions and whether this effectiveness is impaired when the independent directors serve on multiple boards. The choice of the acquisition setting, where the board of...