Showing 1 - 10 of 25,749
We examine how using stock as the method of payment affects a bidder's investor base and investor recognition, and the bidder announcement return. We hypothesize that relative to a cash acquisition, a stock acquisition would increase the bidder's investor base and lower Merton's (1987) shadow...
Persistent link: https://www.econbiz.de/10012903756
This study presents the results from a comprehensive out-of-sample test of long-run returns following mergers and acquisitions (M&As). Using a unique sample from 23 frontier markets of almost 800 transactions conducted during the years 1992 to 2016, we implement both cross-sectional tests and...
Persistent link: https://www.econbiz.de/10012174722
Persistent link: https://www.econbiz.de/10010503626
Persistent link: https://www.econbiz.de/10009272643
Persistent link: https://www.econbiz.de/10011408420
This study employs comprehensive data from the Australian market to investigate takeover firm returns from an investor … takeover wealth gains for four investor classes which are the domestic domiciled nominees, superannuation (pension) funds … that investors realise a takeover return which is commensurate with their information level. The evidence further indicates …
Persistent link: https://www.econbiz.de/10013121674
We document a strong positive initial market reaction to merger announcements from bidders with either large earnings growth or significant earnings decline, relative to those with neutral earnings change, reflecting a U-shaped pattern between bidders’ earnings growth and announcement returns....
Persistent link: https://www.econbiz.de/10013323516
Persistent link: https://www.econbiz.de/10012417770
Persistent link: https://www.econbiz.de/10012501821
Persistent link: https://www.econbiz.de/10012254392