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Financial market integration and the value of global diversification: evidence for US acquirers in cross-border mergers and acquisitions

Francis, Bill B.; Hasan, Iftekhar; Sun, Xian - 2006

value of global diversification.Based on a sample of 1,491 completed cross-border mergers and acquisitions (M&As) conducted …

Persistent link: https://www.econbiz.de/10012147980

A Dynamic Analysis of Growth via Acquisition

Margsiri, Worawat; Melloy, Antonio S.; Ruckesz, Martin E. - Center for Economic Institutions, Institute of Economic … - 2008

negotiations break down. Thus, internal growth opportunities speed up acquisitions when integration costs are significant or … requiring learning about these variables. The model also predicts that buyer-initiated acquisitions result in more pronounced … negative acquirer announcement returns than seller-initiated acquisitions. …

Persistent link: https://www.econbiz.de/10005045149

Financial market integration and the value of global diversification: evidence from US acquirers in cross-border mergers and acquisitions

Francis, Bill B; Hasan, Iftekhar; Sun, Xian - Suomen Pankki - 2006

value of global diversification. Based on a sample of 1,491 completed cross-border mergers and acquisitions (M&As) conducted …

Persistent link: https://www.econbiz.de/10005419680

The effect of reference point prices on mergers and acquisitions

Baker, Malcolm; Pan, Xin; Wurgler, Jeffrey - In: Journal of Financial Economics 106 (2012) 1, pp. 49-71

Prior stock price peaks of targets affect several aspects of merger and acquisition activity. Offer prices are biased toward recent peak prices although they are economically unremarkable. An offer's probability of acceptance jumps discontinuously when it exceeds a peak price. Conversely, bidder...

Persistent link: https://www.econbiz.de/10010593840

Acquirer-target social ties and merger outcomes

Ishii, Joy; Xuan, Yuhai - In: Journal of Financial Economics 112 (2014) 3, pp. 344-363

compensated for completing mergers with targets that are highly connected to the acquiring firms, that acquisitions are more … likely to take place between two firms that are well connected to each other through social ties, and that such acquisitions …

Persistent link: https://www.econbiz.de/10011039232

Sentiment and style : evidence from Republican managers

Karadas, Serkan; Papakroni, Jorida; Schlosky, Minh Tam - In: International Journal of Financial Studies : open … 10 (2022) 2, pp. 1-17

This study examines the relationship between corporate managers' political ideology and corporate leverage policies conditional on investor sentiment. Based on a minimum of 21,884 observations over the 1992-2008 period, the authors show that Republican managers significantly reduce leverage...

Persistent link: https://www.econbiz.de/10013252787

Is More Less? Propensity to diversify via M&A and market reactions

Hornstein, Abigail S.; Nguyen, Zachary - Economics Department, Wesleyan University - 2014

Mergers and acquisitions (M&As) could lead to a firm diversifying into new industries, and the impact of this may be …

Persistent link: https://www.econbiz.de/10010932936

Is more less? Propensity to diversify via M&A and market reactions

Hornstein, Abigail S.; Nguyen, Zachary - In: International Review of Financial Analysis 34 (2014) C, pp. 76-88

Mergers and acquisitions (M&As) could lead to a firm diversifying into new industries, and the impact of this may be …

Persistent link: https://www.econbiz.de/10010931493

CEO compensation and future shareholder returns: Evidence from the London Stock Exchange

Balafas, Nikolaos; Florackis, Chris - In: Journal of Empirical Finance 27 (2014) C, pp. 97-115

This study examines the ex-post consequences of CEO compensation for shareholder value. The main objective is to explore whether companies that pay their CEO excessive fees (in comparison to those of peer firms in the same industry and size group) generate superior future returns and better...

Persistent link: https://www.econbiz.de/10010785000

Merging Activity as a Rational Explanation for the Long-Run Underperformance of IPO

Sentis, Patrick - In: Multinational Finance Journal 13 (2009) 1-2, pp. 75-102

The phenomena of IPO underpricing and underperformance are examined in the same rational model. In this model, underpricing is caused by the presence of uninformed investors. Low-type firms carry out an IPO under the same conditions as high-type firms. Instead of investing by themselves, the...

Persistent link: https://www.econbiz.de/10010937183