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Corporate Governance and Equity Returns
Uchida, Shigeru - 2013
This paper analyses the relationship between corporate governance and equity returns from the small investors view point. A primary survey has been conducted to gather the data required to examine the link. Preliminary result of the study shows that the four elements of governance: board...
Persistent link: https://www.econbiz.de/10013074204
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Credit Ratings and Acquisitions
Aktas, Nihat - 2019
There is a curvilinear relation between credit ratings and acquisitions. Non-investment grade firms make more acquisitions as their ratings improve, consistent with the relaxation of financial constraints. However, this pattern reverses for investment grade firms, supporting the view that such...
Persistent link: https://www.econbiz.de/10012904189
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Target Management Involved Buyouts : Impact on Takeover Competition, Litigation Risk and Shareholder Returns
Gogineni, Sridhar - 2016
identify disciplining mechanisms in the takeover process that can explain this result. We find that target shareholder lawsuits …
Persistent link: https://www.econbiz.de/10013008934
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A New Perspective on Director Busyness
Liu, Chang - 2020
We provide a new perspective to the multiple directorships literature, which focuses on outside directors. Inside directors, however, are important both in the boardroom and day-to-day operations of the firm. We find that any negative effect of director busyness is more pervasive for inside...
Persistent link: https://www.econbiz.de/10012856098
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The Bright Side of Fire Sales
Meier, Jean-Marie - 2020
Firms that buy assets in fire sales earn excess returns that are two percentage points higher than in regular acquisitions. The mechanism behind this result is the reduced bargaining power of the seller. We find no difference in real effects or in the combined returns for buyers and sellers...
Persistent link: https://www.econbiz.de/10012856597
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Target Financial Independence and Takeover Pricing
Jindra, Jan - 2015
associated with higher takeover premiums and lower acquirer announcement returns. This empirical result is most consistent with … depend on external funds do not need new external capital and have no reason to acquiesce potential takeover premium to … vis à vis potential acquirers, leading to the effect on takeover pricing that we observe …
Persistent link: https://www.econbiz.de/10013036867
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Impact of Merger and Acquisitions on Stock Returns : A Case of Financial Sector Firms of Pakistan
Rafique, Dr. Amir - 2013
Mergers and acquisition are not only related to accounting measures of performance of firms but it also affects the wealth of shareholders either positively or negatively. According to Hubris hypothesis, the merger and acquisition announcement brings negative effect to shareholders wealth and...
Persistent link: https://www.econbiz.de/10013078197
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Sitting on the board or sitting on the throne? : evidence of boards' overconfidence from the Italian market
Fattobene, Lucrezia; Caiffa, Marco - In: Economic notes : economic review of Banca Monte dei … 45 (2016) 2, pp. 235-269
Persistent link: https://www.econbiz.de/10011667865
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European cross-border acquisitions : long-run stock returns and firm characteristics
Jensen-Vinstrup, Mathias; Rigamonti, Damiana; Wulff, … - In: Journal of multinational financial management 47/48 (2018), pp. 31-45
Persistent link: https://www.econbiz.de/10012055805