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What drives the declining wealth effect of subsequent share repurchase announcements?
Ding, David K.; Koerniadi, Hardjo; Krishnamurti, … - In: Journal of risk and financial management : JRFM 13 (2020) 8/176, pp. 1-14
Recent academic studies document that open market share repurchase announcements in the United States generate significantly lower returns than those reported in earlier studies. We find that the lower announcement return is associated with an increasing number of subsequent announcements in the...
Persistent link: https://www.econbiz.de/10012322017
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An examination of the wealth effects of share repurchases on bondholders
Alderson, Michael J.; Halford, Joseph T.; Sibilkov, Valeriy - In: The journal of corporate finance : contracting, … 65 (2020), pp. 1-18
Persistent link: https://www.econbiz.de/10012424242
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Determinants of payout choice between open market repurchase, tender offer repurchase and special dividends
Varma, Urvashi; Raveesh K; Munjal, Alka - In: Cogent economics & finance 9 (2021) 1, pp. 1-19
heterogeneity, clientele effect, distribution size, misvaluation, and takeover threat. The MNL results suggest that open market … repurchase is chosen when the takeover threat is high, firms are significant, or in case of undervaluation of firms. Tender offer … repurchase is preferred in high agency cost, high takeover threat, low shareholder heterogeneity, and undervaluation. The study …
Persistent link: https://www.econbiz.de/10013184002
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The wealth effects of accelerated stock repurchases
Yook, Ken C.; Gangopadhyay, Partha - In: Managerial finance 40 (2014) 5, pp. 434-453
Persistent link: https://www.econbiz.de/10010366986
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The impact of diversifying acquisitions on shareholder wealth : evidence from Turkish acquirers
Akben Selcuk, Elif; Kiymaz, Halil - In: The international journal of business and finance … 9 (2015) 3, pp. 19-32
Persistent link: https://www.econbiz.de/10011285435
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The impact of possible-offer announcements on the wealth effect of target firms
Li, Hang; Zhou, Dan - In: The European journal of finance 25 (2019) 15, pp. 1440-1461
Persistent link: https://www.econbiz.de/10012207112
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Mergers and acquisitions in shipping
Alexandrou, George; Gounopoulos, Dimitrios; Thomas, Hardy M. - In: Transportation research / E : an international journal 61 (2014), pp. 212-234
Persistent link: https://www.econbiz.de/10010336383
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Securitization in Spain and the wealth effect for shareholders
López Penabad, María Celia; López Andión, Carmen; … - In: International review of economics & finance : IREF 37 (2015), pp. 308-323
Persistent link: https://www.econbiz.de/10011542124
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An Analysis of the Short Term Shareholder Benefits in Mergers and Acquisitions and the Wealth Effects of Various Bid Characteristics : Evidence from Australia
Halabi, Abdel Karim - 2010
This study explores the short term effects of Mergers and Acquisitions (M&A) in Australia by examining the cumulative abnormal returns earned over a five day event window by the combined, target and acquiring firms. The study examines the wealth effects on the firm of the four bid...
Persistent link: https://www.econbiz.de/10013135523
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Debtholder Wealth Effects in Mergers and Acquisitions : Evidence from the CDS Market
Huettermann, Kai - 2020
This paper examines changes in acquirer and target companies' Credit Default Swap (CDS) spreads as a proxy for default risk around official mergers and acquisitions (M&A) announce-ments. Related literature extensively documents wealth effects triggered by M&A from the shareholders' perspective,...
Persistent link: https://www.econbiz.de/10012843225