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Manager Sentiment, Deal Characteristics, and Takeover Performance

An, Suwei - 2020

Literature has extensive discussions on the driving forces of takeover activities, including investor sentiment …, liquidity, and fundamental shocks. We examine how manager sentiment affects takeover characteristics and long-term performance … strong positive predictive power for takeover waves. Firms with high manager sentiment tend to acquire large and private …

Persistent link: https://www.econbiz.de/10012842770

The Impact of Mergers and Acquisitions on Executive Pay in the United Kingdom

Guest, Paul M. - 2012

We examine the impact of acquisitions by UK acquirers on executive pay. The overall sample shows a significant transitory pay increase. Pay changes are not affected by target nationality or organizational form, although initial cross-border acquisitions result in higher pay. Pay increases are...

Persistent link: https://www.econbiz.de/10013103147

Board Share Ownership and Takeover Performance

Cosh, Andy - 2012

We investigate the relation between takeover performance and board share ownership in the acquiring company for a … on takeover outcomes including: the means of payment; acquirer size and market to book value; the relative size of the … acquirer and the target; the nature of the bid in terms of hostility and industrial direction; and the pre-takeover performance …

Persistent link: https://www.econbiz.de/10013103238

Are there waves in merger activity after all?

Gärtner, Dennis (contributor); Halbheer, Daniel (contributor) - 2004 - September 2004, revised February 2006

This paper investigates the merger wave hypothesis for the US and the UK employing a Markov regime switching model. Using quarterly data covering the last thirty years, for the US, we identify the beginning of a merger wave in the mid 1990s but not the much-discussed 1980s merger wave. We argue...

Persistent link: https://www.econbiz.de/10002521615

The Role of the Media in Takeovers : Theory and Evidence

Buehlmaier, Matthias M. M. - 2016

predicts takeover outcomes. It shows that positive media content about the acquirer predicts takeover success. Relative to …

Persistent link: https://www.econbiz.de/10013008806

SPACs : post-merger survival

Vulanovic, Milos - 2016

This paper studies how institutional characteristics of Specified Purpose Acquisition Companies (SPACs) are related to their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the proceeds to acquire another private company. Paper finds...

Persistent link: https://www.econbiz.de/10011567362

Do Acquisitions of Private Targets Create Higher Value? The Role of Intangible Assets Acquired

Lys, Thomas Z. - 2017

Using a novel dataset that includes estimates of the fair value of the targets' purchased tangible and intangible assets, we demonstrate that private targets have significantly more intangible assets than do public targets. We then develop a valuation model that is based on the fair values of...

Persistent link: https://www.econbiz.de/10012974859

Can Serial Acquirers Be Profiled?

Macias, Antonio J. - 2016

We show that the characteristics of serial acquirers are very different from those studied in prior research. Specifically, we find four major types of acquirers common in the data – loners, occasional acquirers, sprinters, and marathoners. Importantly, these acquirers can be distinguished on...

Persistent link: https://www.econbiz.de/10013003388

Do Cross-Border and Domestic Bidding Firms Perform Differently? New Evidence from Continental Europe and the UK

Mateev, Miroslav - 2015

European countries in the period 2003-2010. The analysis is based on characteristics of takeover transactions such as the type …

Persistent link: https://www.econbiz.de/10013018655

Do Insiders Time Management Buyouts and Freezeouts to Buy Undervalued Targets?

Harford, Jarrad - 2018

We provide evidence that managers and controlling shareholders time management buyouts (MBOs) and freezeout …

Persistent link: https://www.econbiz.de/10012936053

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