Lin, Chen; Officer, Micah S.; Zou, Hong - In: Journal of Financial Economics 102 (2011) 3, pp. 507-525
We examine the effect of directors' and officers' liability insurance (D&O insurance) on the outcomes of merger and acquisition (M&A) decisions. We find that acquirers whose executives have a higher level of D&O insurance coverage experience significantly lower announcement-period abnormal stock...