Rhodes-Kropf and Viswanathan (2004) suggest an adverse selection role of corporate cashreserve. Specifically, if investors know a bidder does not have to issue to invest, an attempt to doso sends a strong pessimistic signal of overvaluation. Despite its intuitiveness, this notion has notbeen...

We find that the decision by a potential acquirer to complete or cancel an announced acquisitionproposal is sensitive to new information generated after the announcement of the acquisition.Both the acquirer and target’s cumulative abnormal returns (CAR) over different windows afterthe...

Despite the rapid rise in cross-border mergers and acquisitions in the past twenty years, there has been little attention paid to what determines their patterns and, in particular, what influences their behaviour over time. Employing a panel database this paper models the behaviour of foreign...

Post-M&A organisational cultural change is a traumatic experience for organisational members. It generates resistance and contributes to M&A failure. Nevertheless, the literature on managing post-M&A cultural change is scarce and largely focused on overcoming the debilitating impact of...

The literature on mergers and acquisitions (M&A) has accumulated a wide body of knowledge on the role of culture in post-M&A integration. Available research uses varied perspectives on culture and cultural change processes. Some define culture as a force shaping human action, others examine...