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Debtholder Wealth Effects in Mergers and Acquisitions : Evidence from the CDS Market

Huettermann, Kai - 2020

This paper examines changes in acquirer and target companies' Credit Default Swap (CDS) spreads as a proxy for default risk around official mergers and acquisitions (M&A) announce-ments. Related literature extensively documents wealth effects triggered by M&A from the shareholders' perspective,...

Persistent link: https://www.econbiz.de/10012843225

The Impact of Diversifying Acquisitions on Shareholder Wealth : Evidence from Turkish Acquirers

Akben Selcuk, Elif - 2016

This study examines the impact of diversifying acquisitions on acquiring Turkish firms. Using a sample of 98 acquisitions during 2000-2011, the study finds that acquiring firms experience statistically significant wealth gains surrounding the announcement date. The cross-sectional regression...

Persistent link: https://www.econbiz.de/10013003763

Debtholder Wealth Effects in Mergers and Acquisitions : Evidence from the CDS Market

Huettermann, Kai - 2020

. Therefore, this study aims to close this gap by exploring the effect of merger announcements on CDS spreads empirically. A …

Persistent link: https://www.econbiz.de/10012852376

Stock Price Movements and Trading Behaviors Around Merger and Acquisition Announcements : Evidence from the Korean Stock Market

Feng, Jingwei - 2020

This study examines the relationship between price movements of target firms' stocks and behaviors of local individual, local institutional, and foreign investors in trading target firms' stocks around mergers and acquisitions announcements in Korea. Results reveal that the average abnormal...

Persistent link: https://www.econbiz.de/10012852709

Value Relevance of Mergers Blocked by Shareholder Lawsuits According to the German Stock Corporation Act : An Event Study

Labrenz, Helfried - 2014

the German Reorganisation Act (UmwG). A merger passed at the General Annual Meeting will not move forward as long as any …

Persistent link: https://www.econbiz.de/10013058808

Impact of Mergers and Acquisitions on Shareholders' Wealth in Short-Run : An Event Study Approach

Rani, Neelam - 2015

Globalization and liberalization have led firms from emerging markets like India to become more aggressive and opt for mergers and acquisitions (M&A) to fight the competitive battle. The present study attempts to evaluate the impact of mergers and acquisitions on the returns in the short run...

Persistent link: https://www.econbiz.de/10013016529

Merger Means of Payment and Analyst's Forecast Bias Before Merger Announcement Date

Zhang, Yiling - 2015

We find strong evidence that analysts tend to have downward-biased earnings estimates immediately before merger … announcement dates when earning announcement date is within a 60 day window prior to merger announcement date. Compared to pure … hypothesis, suggesting analyst's earnings forecast right before merger announcements may be influenced by merger means of payment …

Persistent link: https://www.econbiz.de/10013017575

Merger Means of Payment and Analyst's Forecast Bias Before Merger Announcement Date

Zhang, Yiling - 2015

Persistent link: https://www.econbiz.de/10013023788

Investor Reaction to Merger and Acquisition Rumors

Ma, Matthew - 2016

We investigate investor reactions to merger and acquisition rumors. Employing a large and comprehensive sample of …

Persistent link: https://www.econbiz.de/10012986351

The Relationship between Announcements of Complete Mergers and Acquisitions and Acquirers' Abnormal CDS Spread Changes

Hippert, Benjamin; Uhde, André - 2021

Employing a sample of 492 merger and acquisition (M&A) announcements from 284 acquirers across North America and Europe …

Persistent link: https://www.econbiz.de/10013233811