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Merger Rhetoric and the Credibility of Managerial Synergy Forecasts
Pély, Désirée-Jessica - 2020
Managers frequently project high synergistic gains when announcing M&As. This paper analyzes when promised synergies …
Persistent link: https://www.econbiz.de/10012826457
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Incentive compatibility in prediction markets : costly actions and external incentives
Chen, Di; Dimitrov, Stanko; He, Qi-ming - In: International journal of forecasting 35 (2019) 1, pp. 351-370
Persistent link: https://www.econbiz.de/10012300654
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Managerial incentives and management forecast precision
Cheng, Qiang; Luo, Ting; Yue, Heng - In: The accounting review : a publication of the American … 88 (2013) 5, pp. 1575-1602
Persistent link: https://www.econbiz.de/10010200162
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Efficiency and Market Power Gains in Bank Megamergers : Evidence from Value Line Forecasts
Devos, Erik - 2016
This paper examines whether gains in bank megamergers occur due to efficiency improvements or the exercise of market … quantities. The average megamerger is associated with cost-efficiency improvements. In the cross-section, efficiency gains are …. Efficiency gains dissipate when the resulting megabank size exceeds $150 billion in assets or 1.5% of GDP indicating that banks …
Persistent link: https://www.econbiz.de/10012991899
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Analysts’ Forecasts During Forced CEO Changes
Wright, Sue - 2011
Purpose: The purpose of this paper is to examine analysts' earnings forecasts during a period of heightened uncertainty and forecasting complexity, that of a forced change of CEO. How well do analysts utilise their information advantage to reduce information uncertainty between management and...
Persistent link: https://www.econbiz.de/10013132268
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Do Independent Director Departures Predict Future Bad Events?
Fahlenbrach, Rüdiger - 2016
Following surprise independent director departures, affected firms have worse stock and operating performance, are more likely to restate earnings, face shareholder litigation, suffer from an extreme negative return event, and make worse mergers and acquisitions. The announcement returns to...
Persistent link: https://www.econbiz.de/10013001981
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The Predictive Power of Managerial Tone : A Text-Based Analysis of Takeover Performance
Breuer, Wolfgang; Ghufran, Bushra - 2021
We analyze the use of positive and negative language in financial disclosures and the ability of such language to predict long-term gains to the acquirers. In order to predict long-term takeover performance, we apply textual analysis to the MD&A Section of SEC filings for M&A deals taking place...
Persistent link: https://www.econbiz.de/10013243562
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Can Analysts’ Forecasts and Recommendations Affect Abnormal Compensation of CEOs?
Li, Xia; Gupta, Jairaj; De Moura, André Aroldo Freitas - 2022
, one strand reports a positive relation supporting the agency theory, while the other reports a negative relation … contradicting the agency theory. This disagreement may stem from the unobserved determinants of CEOs’ compensation structures. Thus … analysts’ forecast and recommendation metrics. Although it’s in line with the predictions of agency theory, it appears that …
Persistent link: https://www.econbiz.de/10014239502
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Corporate default prediction with payment disturbances in managers’ earlier entrepreneurial practices
Andresson, Art; Lukason, Oliver - In: Cogent business & management 11 (2024) 1, pp. 1-21
This study aims to determine how payment disturbances in managers' earlier entrepreneurial practices (PDMs) predict … common in the entrepreneurial history of managers of defaulted firms than in that of non-defaulted firms. Additionally, the …
Persistent link: https://www.econbiz.de/10014534507
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Prediction markets and contract design
Bergfjord, Ole Jakob - In: The journal of prediction markets 5 (2011) 2, pp. 1-13
Persistent link: https://www.econbiz.de/10009373131