Prior studies have reported mixed Þndings regarding bidder shareholder returns. There are many theories regard-ing the motivation towards the initiation of a takeover. This study intends to analyze four major merger motivations separately and examine the impact each has on bidder re-turns. We...

This paper examines the performance of bidders with a hubris management during a takeover bid. Data for the study comprises of successful bids in the UK during the 1990s, which have been identified as having a hubris management. Valuation ratios and bid premium sizes are the measures used to...

The aim of this article is to test the profitability of technical trading rules in the intra‐day currency futures market. A wide range of technical strategies are applied to tick data over a two‐year period for two currency futures—Japanese Yen (JY) and Deutschemark (DM)—traded in the...