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We use hand-collected board data around the issuance of two distinct government-led board structure mandates in the U.K. to establish the effect of outside directors on acquirer performance. Increases in outside director representation are associated with better acquirer returns in deals...
Persistent link: https://www.econbiz.de/10011646285
-border deals was market players’ response. Measuring of post-merger performance alterations is a central question of M&A literature …
Persistent link: https://www.econbiz.de/10011446313
under- or overreacts to merger news when initially revaluing merger partners but corrects any miscalculation following the … consummation of the merger. -- Mergers ; Corporate governance ; Operating performance …
Persistent link: https://www.econbiz.de/10009524824
banks have a substantial and persistent negative impact on merging banks' revenues. We refer to merger related negative … customers and the temporary distraction of management from day-to-day operations by effecting the merger. For our analyses we … involved in 212 mergers between 1994 and 2006. We find that the negative impact of a merger on net operating revenues amounts …
Persistent link: https://www.econbiz.de/10003784009
information about suitable merger targets and to manage the merged corporation in case of an acquisition. Our results show that … obtain high-powered incentives and, hence, a high personal income at the merger-management stage. …
Persistent link: https://www.econbiz.de/10011430291
This study provides evidence suggesting that CEOs’ physical fitness has a positive impact on firm value, consistent with the beneficial effects of fitness on, e.g., cognitive functions, stress coping and job performance. For each of the years 2001 to 2011, we define S&P 1500 CEOs as fit if...
Persistent link: https://www.econbiz.de/10011392655
their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the … determining post-merger outcomes of new company, specifically when it comes to their suvival/failure. Namely, increases in pre-merger … commitment by SPAC stakeholders and initial positive market performance increase post-merger survival likelihood. On the contrary …
Persistent link: https://www.econbiz.de/10011567362
refer to hollowing-out as the situation where the target firm is shut down following a merger with a domestic or foreign … when a cross-border merger with hollowing out is not profitable but it is socially desirable. -- Economic models …
Persistent link: https://www.econbiz.de/10003933343
evaluating economic effects of merger and acquisitions (M&A). This framework allows to consider the variation in treatment …
Persistent link: https://www.econbiz.de/10010254298
The paper shows that the standing of theory in the field of mergers and acquisitions is weak for at least three reasons. Research is best described as a battlefield of ad hoc theory testing leaving behind a fragmented field. Research has focused traditionally on high intensity markets under the...
Persistent link: https://www.econbiz.de/10003973902