Using a global sample of 26,444 M&A transactions, we empirically investigate the main drivers of serial acquirer takeover performance, focusing on the benefits of organizational learning and the detriments of post-merger integration (PMI) problems. Taking single acquirers as a control group, we...

This paper investigates the development of earnings quality for a sample of 5,817 firm years during the period between 1997 and 2006 using seven different measures (accounting- and market-based). As a result, overall earnings quality of German firms improves over time. However, the measures of...

The German corporate governance system changed substantially over the last ten years. Meanwhile, ownership structures of German firms changed significantly. We examine the phenomenon of changing ownership structures by studying blockholdings of German large caps between 1997 and 2006. We examine...