This paper extends the time frame of the traditional event-study methodology to provide a more precise measure of the wealth effects from corporate takeovers. The extended methodology is applied empirically to examine the observed abnormal returns surrounding corporate takeovers in Australia...

Stock market prices are investigated around the dates of takeover offers. The 242 companies in the sample of takeover offers are classified firstly as offerors and offerees, and secondly as to whether or not the takeover was achieved. The study employs the two parameter asset pricing model and...

Considerable publicity has been given to the call for further regulating partial takeover bids in Australia. This call is largely based on a premise that they coerce shareholders into accepting a takeover offer which will decrease their wealth. An alternate argument is that in a competitive...

The inverse relation between total equity value and return is confirmed for Australian ordinary shares over the 1974–1984 period. We find this so-called size effect to be robust with respect to several technical methodological adjustments. In particular, the pattern persists when we...