We examine the long run performance of Mamp;A transactions in the property-liability insurance industry. We specifically investigate whether such transactions create value for the bidders' shareholders and assess how corporate governance mechanisms affect such performance. Our results show that...

I analyze the acquirers in both withdrawn and completed merger deals to disentangle the effects of signaling from those of target valuation and expected synergies. Completed stock (cash) acquirers earn 14 percent (10 percent) more than their withdrawn counterparts over the six months following...

Strategic decisions like mergers and acquisitions have a spatial dimension, since firms seek information and choose among geographically scattered alternatives. In this study, we evaluate the impact of distance on the likelihood of family firms undertaking M&A, in an emerging market context. We...