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Dissecting Bidder Security Returns on Payment Methods

Li, Lily - 2018

The choice of payment methods in M&A deals can affect bidder stock and bond value through two channels simultaneously: signaling and wealth transfer. We propose a method to disentangle these two effects by combining observed bidder stock and bond abnormal returns around deal announcements. Our...

Persistent link: https://www.econbiz.de/10012908436

Probability Weighting and Asset Prices : Evidence from Mergers and Acquisitions

Wang, Baolian - 2017

For mergers and acquisitions with a small failure probability, the average decline in target stock price if the deal fails is much larger than the average increase that accompanies deal success. Probability weighting implies that the deal failure probability of such target stocks will be...

Persistent link: https://www.econbiz.de/10012973524

Taking Over the Size Effect : Asset Pricing Implications of Merger Activity

Easterwood, Sara; Netter, Jeffry M.; Paye, Bradley S.; … - 2022

ex ante takeover exposure positively and robustly relates to cross-sectional expected returns. The relation between size … and expected returns becomes positive or insignificant, rather than negative, conditional on this takeover characteristic …. Asset pricing models that include a factor based on the takeover characteristic outperform otherwise similar models that …

Persistent link: https://www.econbiz.de/10013293043

Acquirer's performance in hot and cold merger markets : evidence of mispricing

Hajbaba, Amirhossein; Donnelly, Ray - In: Review of accounting & finance 12 (2013) 3, pp. 204-225

Persistent link: https://www.econbiz.de/10009788095

Are takeover premiums really premiums? : market price, fair value, and corporate law

Stout, Lynn A. - In: The Yale law journal 99 (1990) 6, pp. 1235-1296

Persistent link: https://www.econbiz.de/10001088706

Takeover premiums and discounts for lack of marketability in banking valuation : vata from emerging markets

Bogatyrev, Semen Yurievich; Dobrynin, Sergey Sergeevich - In: International journal of economic perspectives : IJEP 9 (2015) 2, pp. 85-90

Persistent link: https://www.econbiz.de/10011579285

Corporate Finance : Fundamentals of Value and Price

De Luca, Pasquale - 2023

This book on corporate finance systemically integrates firms' approach toward the market, the value fundamentals of investors, and the pricing dynamics of financial markets. The reader is first introduced to an illustration and analysis of some of the main models used in corporate finance and in...