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Do mergers create or destroy value? Evidence from unsuccessful mergers
Cole, Rebel; Fatemi, Ali; Vu, Joseph - Volkswirtschaftliche Fakultät, … - 2006
In this study, we examine unsuccessful takeover attempts for new evidence on whether mergers create or destroy value … literature on signaling by investigating whether a takeover attempt signals investors about the quality of firm management as …
Persistent link: https://www.econbiz.de/10005837001
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The Wealth Effects of Takeover Announcement for Firms in the Financial Services Sector in India
Chakraborty, Madhumita - In: Journal of Emerging Market Finance 9 (2010) 2, pp. 199-227
findings suggest that the shareholders of target firms earn significantly positive abnormal returns on takeover announcements … firms, there was no market reaction on takeover announcements. Apparently, there was some evidence that bidders experienced … post-event positive wealth effects on takeover announcements. But this was not true for the majority as the significant …
Persistent link: https://www.econbiz.de/10010772763
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DO M&A ENHANCE VALUES? MIXED METHODS AND EVIDENCE
SOONGSWANG, Amporn - In: Journal of Applied Economic Sciences 7 (2012) 3(21)/ Fall 2012, pp. 312-325
This study features the impact of takeovers on the event firms traded on the Stock Exchange of Thailand (SET). The study investigates a long-window abnormal return, or during a period of twelve months before and after the announcements using several metrics. The traditional models and the latest...
Persistent link: https://www.econbiz.de/10011139810
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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
This paper contributes to the comparative corporate governance literature by showing how cross-country differences in governance and legal standards affect the bondholder wealth effects of European merger and acquisitions (M&As).Using investment-grade Eurobonds, we find some remarkable...
Persistent link: https://www.econbiz.de/10011090642
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Germany as an emerging archipelago economy: On some less obvious implications of corporate takeovers and mergers
Zademach, Hans-Martin - In: CESifo Forum 7 (2006) 1, pp. 40-45
Persistent link: https://www.econbiz.de/10004998594
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IMPACT OF MERGERS ON CORPORATE PERFORMANCE: A SAMPLE STUDY OF INDIAN TEXTILE INDUSTRY
SAINI, AMARJIT; SINGLA, RAVI - In: Journal of Academic Research in Economics 4 (2012) 3 (December), pp. 284-292
For several years large number of studies has been conducted to gauge the impact of mergers and acquisitions activity on the corporate performance. The results of these studies have been found contradictory. When tested on the 13 sample firms from Indian Textile industry that have experienced...
Persistent link: https://www.econbiz.de/10010854552
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Activism of Institutional Investors, Corporate Governance Alerts and Financial Performance
Lantz, Jean-Sebastien; Montandrau, Sophie; Sahut, … - Institut de Préparation à l'Administration et à la … - 2014
Institutional investors are predominant on the financial markets and are becoming more active in their portfolio management. This article attempts to enhance our understanding of the incidence of shareholder activism on market reaction in the wake of seve
Persistent link: https://www.econbiz.de/10010860518
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INFLUENCE OF THE ECONOMIC AND FINANCIAL CONDITION OF STRATEGIC SHAREHOLDERS UPON THE MARKET VALUE OF COMMERCIAL BANKS IN THE POLISH BANKING SECTOR
Korzeb, Zbigniew - In: "e-Finanse" 10 (2014) 2, pp. 38-43
The objective of the paper is to analyse the influence of information about economic and financial problems of strategic shareholders upon the market value of commercial banks operating in the Polish banking sector. The analysis included fourteen such cases from the years 2007-2014. The results...
Persistent link: https://www.econbiz.de/10010888488
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The death of the deal: Are withdrawn acquisition deals informative of CEO quality?
Jacobsen, Stacey - In: Journal of Financial Economics 114 (2014) 1, pp. 54-83
To examine the market response to positive revelations of chief executive officer (CEO) quality, this study focuses on CEOs who withdraw acquisition bids when the price becomes increasingly expensive. Firms that withdrawal for price-related reasons earn higher withdrawal returns than firms that...
Persistent link: https://www.econbiz.de/10010906185
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Merger arbitrage short selling and price pressure
Liu, Tingting; Wu, Juan - In: Journal of Corporate Finance 27 (2014) C, pp. 36-54
We evaluate the over-valuation hypothesis and merger arbitrage price pressure hypothesis as potential explanations for the observed negative returns to stock acquirers around merger announcement. Using daily shorting flow data, we show that the majority of the negative announcement returns can...
Persistent link: https://www.econbiz.de/10010906832