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The economic consequences deriving from the activity of mergers and acquisitions to US bidders are not supportive of … bidders and the business climate. Nevertheless, mergers and acquisitions are fundamentally dependant of personal …
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The welfare implications of vertical mergers have been a subject of disagreement for decades. Similar to horizontal … mergers, economists need to weigh the efficiency gains relative to the market power concerns when considering the competitive … effects of vertical mergers. However, in vertical mergers, regulators are also concerned with other potential harmful effects …
Persistent link: https://www.econbiz.de/10013370976
The COVID-19 outbreak slowed down global economic activities substantially, resulting in unrest in the financial markets, especially in the beginning of the pandemic outbreak. This study aims to investigate if COVID-19 caused abnormal returns in the US and the Chinese stock markets in the...
Persistent link: https://www.econbiz.de/10014284758
In this paper we challenge the view that corporate bonds are always arm's length debt. We analyze the effect of bond ratings on the stock price return to acquirers in M&A transactions, which tend to have significant effects on creditor wealth. We find acquirers abnormal returns to be higher if...
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horizontal merger activity. We propose a theoretically-backed methodological approach to classify mergers that yields more … information on merger types and merger effects, and that can, moreover, distinguish between mergers characterized largely by … collusion-based synergies and mergers characterized largely by efficiency-based synergies. Crucial to the proposed measurement …
Persistent link: https://www.econbiz.de/10010305861
Do shareholders of acquiring companies profit from acquisitions, or do acquiring CEOs overbidand destroy shareholder …
Persistent link: https://www.econbiz.de/10010326182
) as advisors in mergers. However, this choice weakens any certification effect and creates a potential conflict of …
Persistent link: https://www.econbiz.de/10010283491