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Does the Stock Market Expect Upcoming Merger Activity?

Saidiev, Ulugbek - 2014

upcoming aggregate merger activity and the present values of the factors HML and SMB in the Fama-French three-factor model of …

Persistent link: https://www.econbiz.de/10013065679

Timing of Mergers and Acquisitions : Evidence from the Canadian Stock Market

Tebourbi, Imen - 2014

This paper provides evidence of merger timing induced by investors' overoptimism. We distinguish between hot and cold … merger markets and examine the movements of bidding firms' stock prices, around, before and after mergers announcements. Our … when investors are highly overoptimistic and react irrationally to a merger announcement. We find evidence that bidders …

Persistent link: https://www.econbiz.de/10013058028

Mergers and Acquisitions : Evidence on Post-Announcement Performance from CEE Stock Markets

Zaremba, Adam - 2016

The aim of this paper is to provide fresh-out of sample evidence on short-term and long-term performance following announcement of mergers and acquisitions. The research is based on 109 M&A deals in Central and Eastern European countries for years 2001-2014. For the short-horizon event studies,...

Persistent link: https://www.econbiz.de/10013005691

Stock Price Movements and Trading Behaviors Around Merger and Acquisition Announcements : Evidence from the Korean Stock Market

Feng, Jingwei - 2020

This study examines the relationship between price movements of target firms' stocks and behaviors of local individual, local institutional, and foreign investors in trading target firms' stocks around mergers and acquisitions announcements in Korea. Results reveal that the average abnormal...

Persistent link: https://www.econbiz.de/10012852709

The Stock Market Reaction to Mergers and Acquisitions : Evidence from the Banking Industry

Lozada, Juan M. - 2020

Mergers and acquisitions (M&As) are mainly a mechanism used in the Latin American banking industry to carry out business consolidation. This paper focuses on the effect of M&A announcements on stocks of Latin American banks and their rivals between 2000 and 2019. We evaluate two impacts of M&A...

Persistent link: https://www.econbiz.de/10012840559

Post-merger returns in frontier markets, or how we learned to stop worrying and love the acquirers

Zaremba, Adam; Szyszka, Adam; Płotnicki, Michał; … - In: Journal of business economics and management 19 (2018) 1, pp. 96-109

This study presents the results from a comprehensive out-of-sample test of long-run returns following mergers and acquisitions (M&As). Using a unique sample from 23 frontier markets of almost 800 transactions conducted during the years 1992 to 2016, we implement both cross-sectional tests and...

Persistent link: https://www.econbiz.de/10012174722

On the Effect of Merger Waves on Long-Term Aggregate Stock Market Valuation

Saidiev, Ulugbek - 2012

In this study, we investigate the effect of merger waves on the long-term valuation of aggregate stock market. Our … empirical test shows significant positive relationship between the intensity of past, with four years lag, aggregate merger …

Persistent link: https://www.econbiz.de/10013101602

Reverse mergers, shell value, and regulation risk in Chinese equity markets

Lee, Charles M. C.; Qu, Yuanyu; Shen, Tao - 2017

Using a comprehensive sample of reverse merger (RM) transactions, we examine the effects of China's IPO regulations on …

Persistent link: https://www.econbiz.de/10011873081

The Effects of the Aggregate Stock Market on Mergers and Acquisitions

Fos, Vyacheslav - 2020

We exploit changes in the aggregate stock market conditions as an exogenous shock to an individual M&A deal to explore the economic motivations behind these deals. Equity deals exposed to negative stock market returns after deal announcements are less likely to be completed and deliver lower...

Persistent link: https://www.econbiz.de/10012843751

Unal, Serkan - 2023

Individual investors’ overall return in stock markets decreases with the increase in trading frequency due to factors such as commission expenses, insider trading, spreads, and institutional investors’ high-frequency algorithms. In this study, the relationship between believing the technical...

Persistent link: https://www.econbiz.de/10014353439