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Blockholder Heterogeneity and Conflicts in Cross-Border Acquisitions
Chen, Victor Zitian - 2018
We investigate the principal-principal (PP) conflicts between large blockholders in the context of cross-border acquisitions (CBAs). We focus on the conflicts between family blockholders and two groups of financial institutional investors – banks and mutual funds. We hypothesize that different...
Persistent link: https://www.econbiz.de/10012927433
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Quantifying foreign institutional block ownership at publicly traded U.S. corporations
Coates, John C.; Fein, Ronald A.; Crenny, Kevin; Dong, … - 2016
This short technical report provides an empirical analysis of the level of institutional block ownership overall, and … of foreign block ownership, at a broad set of publicly traded corporations. Disclosed institutional blockholders of every … in three companies in the S&P 500 has one or more block holders with 20 % ownership, and one in eleven (9%) has one or …
Persistent link: https://www.econbiz.de/10011581995
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Corporate Governance : Implications for Canadian Cross-Border Acquisitions
Tebourbi, Imen - 2014
In this study, we raise the question of why bidders from high investor protection countries tend to make acquisitions in less protective countries. To answer this question, we use a sample of 462 cross-border and domestic acquisitions by Canadian bidders. Our results reveal that Canadian bidders...
Persistent link: https://www.econbiz.de/10013058027
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Shareholders at the Gate? Institutional Investors and Cross-Border Mergers and Acquisitions
Ferreira, Miguel A. - 2009
institutional ownership is positively associated with the intensity of cross-border M&A activity worldwide. Foreign institutional … ownership increases the probability that a merger deal is cross-border, successful, and the bidder takes full control of the …
Persistent link: https://www.econbiz.de/10013158587
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Pyramidal Ownership and the Creation of New Firms
Bena, Jan - 2012
We study the role of pyramidal ownership structures in the creation of new firms. Our results suggest that pyramids …
Persistent link: https://www.econbiz.de/10013115668
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The impact of control structures on firm value
Besim, Seniha - In: Borsa Istanbul Review 23 (2023) 5, pp. 1001-1012
business group firms through pyramid structures and dual-class shares, which results in a control-ownership rights wedge. In … this study, I use precise quantitative measures for the control-voting rights wedge (pyramid wedge) and the voting-ownership …. However, the voting-ownership rights wedge does not affect firm valuation. This study also shows that foreign-family coalition …
Persistent link: https://www.econbiz.de/10014383516
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International Corporate Governance Spillovers : Evidence from Cross-Border Mergers and Acquisitions
Albuquerque, Rui A. - 2018
We test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data from 64 countries during the period 2005-2014, we find that cross-border M&A activity is associated with subsequent improvements in the governance of...
Persistent link: https://www.econbiz.de/10012938394
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International Corporate Governance Spillovers : Evidence from Cross-Border Mergers and Acquisitions
Albuquerque, Rui A. - 2018
We test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data from 64 countries during the period 2005-2014, we find that cross-border M&A activity is associated with subsequent improvements in the governance of...
Persistent link: https://www.econbiz.de/10012923482
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Cross-Border Mergers and Acquisitions: The Role of Private Equity Firms
Humphery-Jenner, Mark; Sautner, Zacharias; Suchard, Jo-Ann - 2012
We study the role of private equity firms in cross-border mergers and acquisitions. We find that private equity-owned firms are more likely to become targets in crossborderM&A transactions. This effect is particularly strong in transactions where the target or its shareholders actively reach out...
Persistent link: https://www.econbiz.de/10010326420
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Review of the literature on merger waves
Cho, Sangjun; Chung, Chune Young - In: Journal of risk and financial management : JRFM 15 (2022) 10, pp. 1-21
Over the past few decades, the rapid growth of mergers and acquisitions (M&As) has received interest from academics and practitioners. While M&As continue to be the subject of thorough investigation from a corporate governance standpoint, comparatively less effort has been made to organize and...
Persistent link: https://www.econbiz.de/10013471479