This study analyzed activism that leads to a merger or acquisition (M&A) of a firm to see its benefits for the …

We find strong evidence that analysts tend to have downward-biased earnings estimates immediately before merger … announcement dates when earning announcement date is within a 60 day window prior to merger announcement date. Compared to pure … hypothesis, suggesting analyst's earnings forecast right before merger announcements may be influenced by merger means of payment …

We find strong evidence that analysts tend to have downward-biased earnings estimates immediately before merger … announcement dates when earning announcement date is within a 60 day window prior to merger announcement date. Compared to pure … hypothesis, suggesting analyst's earnings forecast right before merger announcements may be influenced by merger means of payment …

. Therefore, this study aims to close this gap by exploring the effect of merger announcements on CDS spreads empirically. A …

restructuring. We argue that a merger announcement may signal the possibility of a merger wave to the industry, and in doing so …

acquisitions as indicative of merger efficiency gains. We find that target nation’s religiosity and governance features are also …

more likely to become a takeover target and offer premium and acquirers’ announcement returns are positively associated …’ takeover likelihood generates economically significant returns. Our results are robust to a battery of additional analysis, and … useful for participants in the corporate takeover markets …

identify the effect of business risk on capital structure. We find that post-merger changes in leverage and cash holdings are … strongly predicted by expected asset volatility changes estimated using pre-merger information. These capital structure …