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Delēs, Manthos D.; Iosifidi, Maria; Kazakis, Pantelis; … - In: Journal of banking & finance 134 (2022), pp. 1-17

Persistent link: https://www.econbiz.de/10013400188

Mergers and acquisitions (M&AS) by R&D intensive firms

Dutta, Shantanu; Kumar, Vinod - In: Journal of risk and financial management : JRFM 2 (2009) 1, pp. 1-37

In this study, we evaluate the impact of R&D intensity on acquiring firms’ abnormal returns by examining 925 Canadian completed deals between 1993 and 2002 that have information on R&D expenditures. While examining the returns to acquiring firm shareholders in the R&D intensive firms we...

Persistent link: https://www.econbiz.de/10011556072

Post-merger returns in frontier markets, or how we learned to stop worrying and love the acquirers

Zaremba, Adam; Szyszka, Adam; Płotnicki, Michał; … - In: Journal of business economics and management 19 (2018) 1, pp. 96-109

This study presents the results from a comprehensive out-of-sample test of long-run returns following mergers and acquisitions (M&As). Using a unique sample from 23 frontier markets of almost 800 transactions conducted during the years 1992 to 2016, we implement both cross-sectional tests and...

Persistent link: https://www.econbiz.de/10012174722

Market valuation and acquiring firm performance in the short and long term : out-of-sample evidence from Spain

Farinós Viñas, José Emilio; Herrero, Begoña; … - In: Business research quarterly : BRQ 23 (2020) 1, pp. 1-14

Persistent link: https://www.econbiz.de/10012169807

A test of bear market mergerstat control premiums

Jordan, Dan J.; Wort, Donald H. - In: Review of quantitative finance and accounting 33 (2009) 1, pp. 27-36

Persistent link: https://www.econbiz.de/10003850670

Influence of the economic and financial condition of strategic shareholders upon the market value of commercial banks in the Polish banking sector

Korzeb, Zbigniew - In: E-Finanse : finansowy kwartalnik internetowy 10 (2014) 2, pp. 38-43

The objective of the paper is to analyse the influence of information about economic and financial problems of strategic shareholders upon the market value of commercial banks operating in the Polish banking sector. The analysis included fourteen such cases from the years 2007 - 2014. The...

Persistent link: https://www.econbiz.de/10010468354

The effect of industry restructuring on peer firms

Holcomb, Alex; Mason, Paul - In: Journal of risk and financial management : JRFM 14 (2021) 5, pp. 1-25

We study the bond price reaction of a merged firms peers, in order to better understand how the market responds to a restructuring. We argue that a merger announcement may signal the possibility of a merger wave to the industry, and in doing so, increase the conditional probability that peer...

Persistent link: https://www.econbiz.de/10012534527

Information asymmetry, time until deal completion and post-M&A performance

Thompson, Ephraim Kwashie; Kim, Changki - In: Journal of derivatives and quantitative studies 28 (2020) 3, pp. 123-140

This paper aims to show that information asymmetry plays a vital role in the post-M&A performance-time until deal completion nexus. The findings are that the due diligence hypothesis and the overdue hypothesis proposed and tested in Thompson and Kim (2020) are influenced by the information...

Persistent link: https://www.econbiz.de/10012592657

Cross-border acquisitions and shareholders’ wealth : the case of the Indian pharmaceutical sector

Wajid, Abdul; Sabiha, Anjim; Akhtar, Shakeb; Tabash, … - In: Journal of risk and financial management : JRFM 15 (2022) 10, pp. 1-17

Cross-border acquisitions by Indian companies have increased tremendously, especially during the last two decades, and the pharmaceutical industry is one of the top acquiring industries. This study verifies the relationship between cross-border acquisitions and shareholders’ wealth in the...

Persistent link: https://www.econbiz.de/10013471449

Does target firm's earnings management affect shareholder's gains? : evidence from China

Mughal, Azhar; Haque, Abdul; Zahid, Zohaib; Ali, Furman; … - In: Credit and capital markets : Kredit und Kapital 55 (2022) 2, pp. 203-226

takeover announcement. We find no evidence of earnings management immediately after the announcement quarter. …This study tests the hypothesis that the target firms are involved in earnings management activities in quarters … leading to a takeover announcement. Using a sample of 3,455 Chinese listed firms that are targets of successful acquisitions …

Persistent link: https://www.econbiz.de/10014518537

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