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Value Relevance of Mergers Blocked by Shareholder Lawsuits According to the German Stock Corporation Act : An Event Study
Labrenz, Helfried - 2014
This paper analyses lawsuits against shareholders' resolutions according to the German Stock Corporation Act (AktG) and the German Reorganisation Act (UmwG). A merger passed at the General Annual Meeting will not move forward as long as any lawsuit is pending with a court. In particular, mergers...
Persistent link: https://www.econbiz.de/10013058808
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The impact of macroeconomic factors on the German stock market : evidence for the crisis, pre- and post-crisis periods
Celebi, Kaan; Hönig, Michaela - In: International Journal of Financial Studies : open … 7 (2019) 2/18, pp. 1-13
Today we live in a post-truth and highly digitalized era characterized by a flow of (mis-) information around the world. Identifying the impact of this information on stock markets and forecasting stock returns and volatilities has become a much more difficult task, perhaps almost impossible....
Persistent link: https://www.econbiz.de/10012039605
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Tailwind and headwind bidding in German Takeover offers – the impact of target stock price movements and takeover regulation on takeover success
Schwetzler, Bernhard; Uhlenkamp, Lisa M. - 2022
movements, takeover regulation and offer premium and their combined impact on takeover success for a sample of 311 takeo-ver … runup for the takeover offers in our sample with an abnormal return of around 8%. Further, analysis of German takeover … offers is of particular interest as its takeover code contains a minimum bid requirement for control-taking offers …
Persistent link: https://www.econbiz.de/10013405796
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Determinants of acquisition and failure : stylized facts and lessons for empirical studies
Köke, F. Jens - 2001
This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also offers important lessons for the design of empirical studies. We show that firms experiencing failure or acquisition are significantly different from surviving firms on a number of...
Persistent link: https://www.econbiz.de/10011446202
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A New Wolf in Town? Pump-and-Dump Manipulation in Cryptocurrency Markets
Dhawan, Anirudh - 2020
We show that cryptocurrency markets are plagued by pump-and-dump manipulation, with at least 355 cases in seven months. Unlike stock market manipulators, cryptocurrency manipulators openly declare their intentions to pump specific coins, rather than trying to deceive investors. Puzzlingly,...
Persistent link: https://www.econbiz.de/10012826107
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Sectoral differences in feedback trading on the German stock market
Yusupova, Elena - 2005
Persistent link: https://www.econbiz.de/10002821734
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Open market share repurchases in Germany : a conditional event study approach
Andres, Christian; Betzer, André; Doumet, Markus; … - 2013
We analyze the decision to announce an open market share repurchase and the share price reaction to the announcement. We use a conditional estimation approach which takes into account that the repurchase decision is made rationally and that, consequently, there is a potential selection bias....
Persistent link: https://www.econbiz.de/10009750071
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Open market share repurchases in Germany : a conditional event study approach
Andres, Christian; Betzer, André; Doumet, Markus; … - 2014
We analyze the decision to announce an open market share repurchase and the share price reaction to the announcement. We use a conditional estimation approach which takes into account that the repurchase decision is made rationally and that, consequently, there is a potential selection bias....
Persistent link: https://www.econbiz.de/10010428106
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Index Fund and ETF Ownership and the German Market for Corporate Control
Dobmeier, Ludwig - 2019
If a bidder launches a takeover offer for a listed company being part of a stock market index, then index funds and …. This paper analyzes the impact of index fund and ETF ownership on the success of takeover offers in Germany. Based on a … sample of 323 takeover offers of publicly listed German companies between 2006 and 2018, we document a significant negative …
Persistent link: https://www.econbiz.de/10012864050
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Accounting for Distress in Bank Mergers
Koetter, Michael - 2016
Persistent link: https://www.econbiz.de/10012989321