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SPACs with focus on China
Shachmurove, Yochanan; Vulanovic, Milos - Deutsche Zentralbibliothek für … - 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/10010957810
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Institutional changes of Specified Purpose Acquisition Companies (SPACs)
Lakicevic, Milan; Shachmurove, Yochanan; Vulanovic, Milos - In: The North American Journal of Economics and Finance 28 (2014) C, pp. 149-169
the years 2003–2012. Do institutional characteristics of SPACs determine the success of their merger outcomes? The paper … merger for SPACs increases if they are able to announce the deal soon after the Initial Public Offering (IPO), if the deal …
Persistent link: https://www.econbiz.de/10010777008
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On Mergers, Acquisitions and Liquidation Using Specified Purpose Acquisition Companies (SPACs)
Lakicevic, Milan; Shachmurove, Yochanan; Vulanovic, Milos - Department of Economics, University of Pennsylvania - 2013
A Specified Purpose Acquisition Company (SPAC) is formed to purchase operating businesses within a priori determined time period. SPACs existed in U.S capital markets since the 1920s. Their corporate structure has recently become debated in the legal and financial literatures, especially their...
Persistent link: https://www.econbiz.de/10010822880
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How do Mergers and Acquisitions Affect Bondholders in Europe? Evidence on the Impact and Spillover of Governance and Legal Standards
Renneboog, Luc; Szilagyi, P.G. - Tilburg University, Center for Economic Research - 2006
governance and legal standards affect the bondholder wealth effects of European merger and acquisitions (M&As).Using investment …
Persistent link: https://www.econbiz.de/10011090642
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The Logic of Merger and Acquisition Pricing
Lenz, Rainer - Volkswirtschaftliche Fakultät, … - 2008
The valuation of synergy is vital to the success of any merger, however, given current valuation methodologies and the … complexity of the task; it is also the most challenging element of merger and acquisition pricing. Conventional valuation methods … elements and relations. If such a delicate system is segmented due to a merger, the outcome measured in turnover and profit …
Persistent link: https://www.econbiz.de/10008694022
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Are Forced Turnovers Good or Bad News?
Kind, Axel; Schläpfer, Yves - Wirtschaftswissenschaftliches Zentrum, Universität Basel - 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 ...
Persistent link: https://www.econbiz.de/10009397223
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A dynamic estimation of governance structures and financial performance for Singaporean companies
Nguyen, Tuan; Locke, Stuart; Reddy, Krishna - In: Economic Modelling 40 (2014) C, pp. 1-11
In this study, a sample of 257 Singaporean domiciled non-financial listed companies is investigated using a system generalised method of moments (system GMM) estimator. This approach allows for controlling the potential sources of endogeneity which are inherent in the performance–governance...
Persistent link: https://www.econbiz.de/10010782002
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Internal managerial promotions: Insider incentives and CEO succession
Mobbs, Shawn; Raheja, Charu G. - In: Journal of Corporate Finance 18 (2012) 5, pp. 1337-1353
We identify and compare firms that promote a single executive (successor-incentive) and companies that conduct tournaments (tournament-incentive) among inside managers to succeed the CEO. Successor-incentive firms give more pay-for-performance compensation to the designated successor, are more...
Persistent link: https://www.econbiz.de/10010588378
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On the Challenge to Competitive Authoritarianism and Political Patronage in Malaysia
Johansson, Anders C. - Stockholm China Economic Research Institute, … - 2014
In March 2008, Malaysia’s political landscape was shaken by election results showing that the Barisan Nasional had won less than two thirds of the parliamentary seats and lost five states to the opposition. A two-thirds supermajority had been seen as a sacred threshold for the coalition to...
Persistent link: https://www.econbiz.de/10010739446
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Announcement Of The Exchange Ratio Of The Merging Companies - Impact On The Acquiring Firms "
Czerwonka, Leszek - In: Analele Stiintifice ale Universitatii "Alexandru Ioan … 58 (2011) november, pp. 83-90
In merger transactions the value of the share exchange ratio is essential, because it affects the distribution of the … benefits of the merger. The aim of this study is to analyze the impact of announcements of the agreed by boards share exchange … ratios on the valuation of shares of companies involved in the merger as acquiring companies. The method used for measuring …
Persistent link: https://www.econbiz.de/10010558953