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Does Asymmetric Information Affect the Premium in Mergers and Acquisitions?
Dionne, Georges - 2014
TWe test the influence of information asymmetry on the premium paid for an acquisition. We analyze mergers and acquisitions as English auctions. The theory of dynamic auctions with private and common value predicts that more informed bidders may pay a lower price. We test that prediction with a...
Persistent link: https://www.econbiz.de/10013070221
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Does asymmetric information affect the premium in mergers and acquisitions?
Dionne, Georges; La Haye, Mélissa; Bergerès, Anne-Sophie - In: The Canadian journal of economics 48 (2015) 3, pp. 819-852
Persistent link: https://www.econbiz.de/10011568563
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Price discovery and gains from trade in asset markets with insider trading
Brünner, Tobias; Levínský, René - 2020
The present study contributes to the ongoing debate on possible costs and benefits of insider trading. We present a novel call auction model with insider information. Our model predicts that more insider information improves informational efficiency of prices, but this comes at the expense of...
Persistent link: https://www.econbiz.de/10012437539
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Price discovery and gains from trade in asset markets with insider trading
Brünner, Tobias; Levínský, René - In: The European journal of finance 29 (2023) 3, pp. 255-277
Persistent link: https://www.econbiz.de/10014322519
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Asymmetric information and target firm returns
Croci, Ettore; Petmezas, Dimitris; Travlos, Nickolaos G. - In: The European journal of finance 18 (2012) 7/8, pp. 639-661
Persistent link: https://www.econbiz.de/10009666511
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Hedge fund activism and short-term value creation prior to the initial filing : evidence from US firms
Karpouzis, Efstathios; Margaritis, Dimitris; Psillaki, Maria - In: International journal of banking, accounting and … 13 (2023) 3, pp. 277-320
Persistent link: https://www.econbiz.de/10014232281
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Takeover bids, share prices and the expected value hypothesis
Hutson, Elaine; Partington, Graham H. - 1994
Persistent link: https://www.econbiz.de/10000957542
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Bidders' board structure and acquisition returns
Donnelly, Ray - In: International journal of corporate governance : IJCG 1 (2008/09) 3, pp. 315-335
Persistent link: https://www.econbiz.de/10003948498
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Essays in financial economics
Savor, Pavel - 2006
Persistent link: https://www.econbiz.de/10003965701
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Preemptive bidding, target resistance, and takeover premiums
Dimopoulos, Theodosios; Sacchetto, Stefano - 2011
This paper empirically evaluates two possible sources of large takeover premiums: preemptive bidding and target … resistance. We develop an auction model that features costly sequential entry of bidders in takeover contests and that … in the period 1988-2006. We find that target resistance is the main determinant of takeover premiums in 74% of successful …
Persistent link: https://www.econbiz.de/10009375142