This paper examines shareholder wealth effects of cross-border acquisitions. In a sample 155 large acquisitions by German corporations from 19852006 international transactions total do not lead to significant announcement returns. Geography, however, makes a difference: Shareholders of acquiring...

Recent studies suggest that the correlation of stock returns increases with decreasing geographical distance. However, there is some debate on the appropriate methodology for measuring the effects of distance on correlation. We modify a regression approach suggested in the literature and...

Recent studies suggest that the correlation of stock returns increases with decreasing geographical distance. However, there is some debate on the appropriate methodology for measuring the effects of distance on correlation. We modify a regression approach suggested in the literature and...