We estimate how an acquiring firm's risk changes depending on whether the market initially judges the acquisition to be neutral, strongly negative, or strongly positive for the shareholders of the acquiring firm. We found that for an average neutral acquisition, the annualized standard deviation...

Purpose: This study examines the influence of individual blockholders on corporate risk-taking using Korean-listed firm data. Studies on corporate governance argue that non-controlling large shareholders, that is individual blockholders, increase corporate risk-taking by monitor and discipline...