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SPACs with focus on China
Shachmurove, Yochanan; Vulanovic, Milos - 2014
In this study, we examine characteristics of Specified Purpose Acquisition Companies (SPACs) used as a financing tool for companies from China in period 2004-2011. We offer the evidence that, similarly to evidence from studies on reverse mergers focusing on China, SPACs that focus on China are...
Persistent link: https://www.econbiz.de/10010332133
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SPACs: Post-merger survival
Vulanovic, Milos - 2016
their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the … determining post-merger outcomes of new company, specifically when it comes to their suvival/failure. Namely, increases in pre-merger … commitment by SPAC stakeholders and initial positive market performance increase post-merger survival likelihood. On the contrary …
Persistent link: https://www.econbiz.de/10011567076
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Buying to Sell: A Theory of Buyouts
Norbäck, Pehr-Johan; Persson, Lars; Tåg, Joacim - 2010
Private equity owned firms have more leverage, more intense compensation contracts, and higher productivity than comparable firms. We develop a theory of buyouts in oligopolistic markets that explains these facts. Private equity firms are more aggressive in inducing restructuring compared to...
Persistent link: https://www.econbiz.de/10010320382
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SPACs in Shipping
Shachmurove, Yochanan; Vulanovic, Milos - 2013
syndicate, and have a higher rate of merger success. Also, the founders of shipping SPACs tend to be, on average, younger than … listing and receiving SPAC’s cash. The fact that some SPACs in our sample went private soon after the merger makes us believe …
Persistent link: https://www.econbiz.de/10010327773
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Cross-Border Mergers and Acquisitions: The Role of Private Equity Firms
Humphery-Jenner, Mark; Sautner, Zacharias; Suchard, Jo-Ann - 2012
We study the role of private equity firms in cross-border mergers and acquisitions. We find that private equity-owned firms are more likely to become targets in crossborderM&A transactions. This effect is particularly strong in transactions where the target or its shareholders actively reach out...
Persistent link: https://www.econbiz.de/10010326420
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Is rated debt arm's length? Evidence from mergers and acquisitions
Gropp, Reint E.; Hirsch, Christian; Krahnen, Jan Pieter - 2011
constant, rated firms increase their leverage in takeover transactions by less than their unrated counterparts. Consistent with …
Persistent link: https://www.econbiz.de/10010308570
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Private Equity and Employees
Olsson, Martin; Tåg, Joacim - 2012
Using linked employer-employee data from Sweden, a difference-in-difference approach, and 201 private equity buyouts undertaken between 1998 and 2004, we show that unemployment risk declines and labor income increases for employees in the wake of a private equity buyout. Unemployment risk...
Persistent link: https://www.econbiz.de/10010320400
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Are Forced Turnovers Good or Bad News?
Kind, Axel; Schläpfer, Yves - 2011
To gain insights about the quality of board's firing decisions, we investigate abnormal stock returns and operating performance around CEO-turnover announcements in a new hand- collected sample of 208 “clean” turnover events between January 1998 and June 2009. Unlike the majority of previous...
Persistent link: https://www.econbiz.de/10011390666
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Review of the literature on merger waves
Cho, Sangjun; Chung, Chune Young - In: Journal of Risk and Financial Management 15 (2022) 10, pp. 1-21
Over the past few decades, the rapid growth of mergers and acquisitions (M&As) has received interest from academics and practitioners. While M&As continue to be the subject of thorough investigation from a corporate governance standpoint, comparatively less effort has been made to organize and...
Persistent link: https://www.econbiz.de/10014332631
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Empirical research on corporate credit-ratings: A literature review
Matthies, Alexander B. - 2013
We report on the current state and important older findings of empirical studies on corporate credit ratings and their relationship to ratings of other entities. Specifically, we consider the results of three lines of research: The correlation of credit ratings and corporate default, the...
Persistent link: https://www.econbiz.de/10010318748