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Corporate Governance, ESG, and Stock Returns Around the World

Khan, Mozaffar - 2019

Non-financial performance measures, such as Environmental, Social, and Governance (“ESG”) measures, are potentially leading indicators of firms' financial performance. I draw on the prior academic literature and the concept of ESG materiality to develop new corporate governance and ESG...

Persistent link: https://www.econbiz.de/10012897542

Who Is Afraid of BlackRock?

Massa, Massimo - 2020

We exploit the merger between BlackRock and Barclays Global Investors to study how changes in expected ownership concentration affect the investment behavior of funds and the cross-section of stocks worldwide. We find that funds with open-end structures and a large exposure to commonly-held...

Persistent link: https://www.econbiz.de/10012856106

Impact on target firm risk-return characteristics of domestic and cross-border mergers and acquisitions in emerging markets

Zhu, PengCheng; Jog, Vijay M. - In: Emerging markets finance & trade : a journal of the … 48 (2012) 4, pp. 79-101

Persistent link: https://www.econbiz.de/10009682715

The Governance Transfer of Blockholders : Evidence from Block Acquisitions and Earnings Management around the World

Dai, Lili - 2017

We examine the governance transfer effect of corporate blockholders in a sample of 892 block acquisitions across 42 countries from 1990 to 2008. Using earnings management as a proxy for corporate governance outcome, we find that target firms' earnings management is aligned with that of block...

Persistent link: https://www.econbiz.de/10012974044

How does the Market for Corporate Control Impact Tax Avoidance? Evidence from International M&A Laws

Hu, Jinshuai; Li, Siqi; Shevlin, Terry J. - 2021

corporate tax planning. Exploiting the staggered enactment of M&A laws across countries that increased the threat of takeover as … avoidance following the takeover law passage. Our analysis suggests that reduced management private benefits consumption (i … strategies, is the likely mechanism through which takeover laws impact tax avoidance. Collectively, our findings extend the …

Persistent link: https://www.econbiz.de/10013220207

Shareholders at the Gate? Institutional Investors and Cross-Border Mergers and Acquisitions

Ferreira, Miguel A. - 2009

We study the role of institutional investors in cross-border mergers and acquisitions (M&As). We find that foreign institutional ownership is positively associated with the intensity of cross-border M&A activity worldwide. Foreign institutional ownership increases the probability that a merger...

Persistent link: https://www.econbiz.de/10013158587