The reaction of stock prices to bankruptcy filing has been frequently analysed in the financial literature. In this paper we adopt a different approach to that of traditional study, and endeavour to determine whether the reaction of markets is conditioned by the orientation of bankruptcy law....

The reaction of stock prices to bankruptcy filing announcements has been very frequently analysed in the financial literature. In the current work we adopt a different approach to that of the traditional event study, trying to determine if the reaction of the markets is conditioned by the...

This study empirically analyzes the effect that the bankruptcy law has based on the firm's financial situation. In order to do this, we have considered the different types of efficiency and their influence on the firm's value. The study was carried out for Germany, Spain, the United States,...

The aim of this paper is to further the study of mergers and acquisitions involving European financial entities which took place in the period 1993-2001. An ex-ante analysis describes the characteristics of the entities involved, both those taking over others or those being taken over, within a...

During the 1990s, the banking sector experienced an important consolidation process in most developed countries, where mergers and acquisitions (M&As) between credit institutions reached unprecedented levels. Financial deregulation and technological progress have played an important role in this...

This research explores the effects that media coverage of corporate social responsibility (CSR) news related to investor, customer, employee and community issues has on the market value of Spanish banks, measured as the impact generated in abnormal returns for these companies. We use an event...

The aim of our study is to analyse if the purchase of share blocks in the Spanish capital market is motivated by the value creation derived from monitoring, or by the informative advantage of the acquirers and insider trading. This would highlight the need of an strict application of Governance...

The aim of our research is to study the effect of financial acquisitions over European Union credit entities performance overcoming three limitations found in previous studies: most studies have been done for the United States market (characterised by higher regulatory restrictions for banking...

The aim of our research is to study the effect of financial acquisitions over European Union credit entities performance overcoming three limitations found in previous studies: most studies have been done for the United States market (characterised by higher regulatory restrictions for banking...

The objective of our study is to look for an equilibrium among three factors: the private benefits that main shareholders can obtain from the firm, the public or social benefits derived from a certain ownership structure (such as supervision and alignment of interests) and the costs derived from...