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movements as the news of the merger is made public. The price movement of the acquiring firm's equity around the announcement of … better compensated for managing larger organizations, particularly when involved in merger activity. This study investigated … comprehensive Thomson Reuters SDC merger database and equity values from CRSP. Results indicated that weaker corporate governance is …
Persistent link: https://www.econbiz.de/10013114289
How does bank integration affect the market for corporate control for nonfinancial firms? We provide causal evidence that interstate bank deregulation affects acquisitions mainly through reducing the information asymmetry between acquirers and targets, instead of increased credit supply. After...
Persistent link: https://www.econbiz.de/10012900778
Using a sample of US bank mergers from 1995 to 2012, we observe that the pre-post merger changes in CEO bonus are … corporate governance but are positively correlated with pre-post merger changes in the M/B ratio of the bidding banks, in line …
Persistent link: https://www.econbiz.de/10013043231
Using the Japanese bank merger dataset for the 2000s, this paper investigates whether the reduction of the ownership … subsequent operating performance has a non-linear relationship with the cumulative shareholding ratio in the pre-merger period …% rule after the banks merger …
Persistent link: https://www.econbiz.de/10013063183
The U.S. banking industry has seen waves of mergers since the 1980s. Despite a significant body of research on the determinants of these waves, there are few studies of how CEOs influence banks’ mergers and acquisitions (M&As). This paper studies the effect of CEO aggressiveness on bank M&As....
Persistent link: https://www.econbiz.de/10013405017
facilitate merger and acquisition (M&A) deals. We find that firms are significantly more likely to become targets if they borrow …
Persistent link: https://www.econbiz.de/10012975584
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Debtholder stewardship refers to the involvement of corporate creditors in a firm’s governance framework with the aim of improving corporate decision-making. This article develops the theory of debtholder stewardship by identifying the mechanisms of debtholder influence, assessing their...
Persistent link: https://www.econbiz.de/10013403912