Narrow search
Showing 1 - 10 of 3,371
Cover Image
The Merger Agreement Myth
Manns, Jeffrey - 2012
legal provisions of acquisition agreements to address the distinctive risks facing each merger. But the empirical question … details of the legal terms of acquisition agreements. Our approach leverages the fact that merger announcements (which lay out … a merger have strong incentives to complete the deal regardless of what legal contingencies are triggered. We argue that …
Persistent link: https://www.econbiz.de/10013103781
Cover Image
The Further Erosion of Investor Protection : Expanded Exemptions, SPAC Mergers and Direct Listings
Tuch, Andrew F.; Seligman, Joel - 2022
This article examines the decades-long decline of investor protections enshrined in the Securities Act of 1933, most notably Section 11, which imposes near strict liability on corporate insiders and certain secondary actors, primarily underwriters. The provision, the most potent in the federal...
Persistent link: https://www.econbiz.de/10013403507
Cover Image
Exit Through Exitus in Private Equity Buyouts
Hammer, Benjamin - 2015
We study the impact of PE firm and buyout characteristics on default probability employing a Cox proportional hazards model to a global sample of 5,093 buyouts between 1997 and 2012. Our results indicate that investments of generalists have lower default probability than those of specialists....
Persistent link: https://www.econbiz.de/10013025950
Cover Image
The real effects of private equity buyouts
Tåg, Joacim - 2010
Private equity buyouts have become a common element in the industrial development process. I survey the literature on the real economic effect of buyouts: employment, wages, productivity, and long-run investments. Employment tend to marginally fall after a buyout in most countries studied, with...
Persistent link: https://www.econbiz.de/10008654164
Cover Image
Political Corruption and Mergers and Acquisitions
Nguyen, Nam - 2019
This research examines the relation between political corruption and mergers and acquisitions (M&As). We find that local corruption increases firm acquisitiveness but decreases firm targetiveness. The levels of corruption in acquirer areas relate positively to the bid premiums and negatively to...
Persistent link: https://www.econbiz.de/10012899211
Cover Image
Wealth Transfer Effects between Stockholders and Bondholders
Imbierowicz, Björn - 2013
Prior research has addressed the question of whether certain events cause a transfer of wealth between stockholders and bondholders but does not control for the events' impacts on firms' credit risk. This may explain why many studies fail to identify wealth transfers. By employing announcements...
Persistent link: https://www.econbiz.de/10013093714
Cover Image
International Corporate Governance Spillovers : Evidence from Cross-Border Mergers and Acquisitions
Albuquerque, Rui A. - 2018
We test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data from 64 countries during the period 2005-2014, we find that cross-border M&A activity is associated with subsequent improvements in the governance of...
Persistent link: https://www.econbiz.de/10012938394
Cover Image
Do Announced Credit Rating Revisions Create Wealth Transfer Effects between Stockholders and Bondholders of European Firms?
Hundt, Steffen - 2016
Wealth transfer effects between stockholders and bondholders on the announcement date of changes in a firm's credit rating have primarily been examined a) for one type of security; b) on US capital markets; and c) by applying standard event study methods. In contrast to these investigations, we...
Persistent link: https://www.econbiz.de/10012984791
Cover Image
International Corporate Governance Spillovers : Evidence from Cross-Border Mergers and Acquisitions
Albuquerque, Rui A. - 2018
We test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data from 64 countries during the period 2005-2014, we find that cross-border M&A activity is associated with subsequent improvements in the governance of...
Persistent link: https://www.econbiz.de/10012923482
Cover Image
Emission Trading Schemes and Cross-Border Mergers and Acquisitions
Chen, Yajie; Guo, Kun; Ji, Qiang; Zhang, Dayong - 2022
difference-in-difference approach. Our results show that ETS implementation leads to significantly less cross-border merger and …
Persistent link: https://www.econbiz.de/10013291148