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understanding the timing and intensity of public firms' merger activity …
Persistent link: https://www.econbiz.de/10013005635
This paper studies the impact of corporate acquisitions - both domestic and cross-border - on the uncertainty faced by acquiring firms. We use data for UK publicly-listed firms from 2004 to 2017 and employ a matching estimator combined with difference-in-differences to control for the endogenous...
Persistent link: https://www.econbiz.de/10012158166
identify the effect of business risk on capital structure. We find that post-merger changes in leverage and cash holdings are … strongly predicted by expected asset volatility changes estimated using pre-merger information. These capital structure …
Persistent link: https://www.econbiz.de/10012856772
of the last 30 years: the extent to which a target board of directors will be allowed to prevent shareholders from …
Persistent link: https://www.econbiz.de/10010259665
In this paper we note that unrelated research in the management and finance fields, if combined, makes predictions concerning board reforms in emerging countries. Specifically, outside directors' demographic characteristics that are salient to foreign investors should reduce stock price...
Persistent link: https://www.econbiz.de/10013097547
's debtholders to bail out the firm as bankruptcy looms. Because of this implicit guarantee, firm shareholders have an incentive to …
Persistent link: https://www.econbiz.de/10013152555
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