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We find that bidders are more likely to hold conference calls at merger announcements when the mergers are financed … associated with more favorable market reactions to merger announcements. A content analysis of merger-related information … conference calls are positively associated with pre-merger announcement abnormal accruals. Overall, the results suggest that …
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This paper examines changes in acquirer and target companies' Credit Default Swap (CDS) spreads as a proxy for default risk around official mergers and acquisitions (M&A) announce-ments. Related literature extensively documents wealth effects triggered by M&A from the shareholders' perspective,...
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. Therefore, this study aims to close this gap by exploring the effect of merger announcements on CDS spreads empirically. A …
Persistent link: https://www.econbiz.de/10012852376
private merger negotiation process affects bidding strategies. Weprovide strong evidence that market reactions to information …
Persistent link: https://www.econbiz.de/10013224166
We examine the determinants of voluntary synergy disclosure by target companies during takeover bids. The sample contains 124 French takeover bids between 1999 and 2011. The variables assumed to influence the targets' synergy disclosure are the characteristics of the bid and the characteristics...
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The purpose of this study is to empirically examine the relation between a target firm’s media coverage (measured by degree of media coverage, positive and negative media coverage) and various takeover characteristics. We find that media coverage is negatively associated with the takeover...
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