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...

This paper analyzes the determinants of governance transparency. In our model, entrepreneurs optimally decide the precision of their earning reporting by trading off the possibility of expropriating profits against the capacity to attract external funding.We find that information is only...

The paper examines the corporate governance mechanism of the control model (or insider control system) by looking at both the motivation for management to deviate from following their principal's wishes and whether the supervising body, the board of directors would correct them. Some...

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 Indian...

Wird durch M&A-Transaktionen in der europäischen Bankenindustrie Shareholder Value generiert? Vor dem Hintergrund des beschriebenen scheinbaren Widerspruchs zwischen starker und jüngst erneut zunehmender M&A-Tätigkeit in der Bankenindustrie einerseits und der auf Basis der Forschung...

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 over the period 2007–2020, and for a matched sample of...

Gewinnstrukturbeziehungen und Fusionen im europäischen Bankensektor: Eine empirische Untersuchung Die empirische Forschung liefert den Beweis für eine Beziehung zwischen Marktstrukturen und Rentabilität im europäischen Bankensektor. In diesem Beitrag werden diverse Marktmacht- und...

Wird durch M&A-Transaktionen in der europäischen Bankenindustrie Shareholder Value generiert? Vor dem Hintergrund des scheinbaren Widerspruchs zwischen starker und jüngst erneut zunehmender M&A-Tätigkeit in der Bankenindustrie einerseits und der auf Basis der Forschung dokumentierten...