Merger (RM) firms. We provide evidence that, contrary to the popular focus by the business press, earnings management happens … reverse merger. Results of tests on these firm-level factors indicate that the differences in earnings quality are both …

shocks drive industry-level clustering of merger activity and “who buys whom?” In the telecom industry, deregulation opened … in IPO and merger activity. My findings support the view that the increase in merger activity following the 1996 …, and not to increased misvaluation. The economic shocks from deregulation and technological change drive merger activity by …

This study examines the impact of merger and acquisition (M&A) announcements made by U.S. companies listed on New York … firm may be encroached by shareholders and managers after the announcement in the U.S. but not in China. However, for … on average, while those in China can profit from it before the information is officially released; however, the incentive …

. Yet, surprisingly little attention has been paid to the very significant differences in takeover regulation between the … two most prominent practitioners of hostile takeover, the United Kingdom and the United States. In the UK, defensive …