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Institutional cross-ownership and corporate strategy : the case of mergers and acquisitions

Brooks, Chris; Chen, Zhong; Zeng, Yeqin - In: The journal of corporate finance : contracting, … 48 (2018), pp. 187-216

Persistent link: https://www.econbiz.de/10011805985

The political economy of dominant investors

Perotti, Enrico C.; Thadden, Ernst-Ludwig von - 2005

We allow the preference of a political majority to determine boththe corporate governance structure and the division of profits betweenhuman and financial capital. In a democratic society where financialwealth is concentrated, a political majority may prefer to restraingovernance by dispersed...

Persistent link: https://www.econbiz.de/10011337975

Chapter 1. Corporate Governance and Control

Becht, Marco; Bolton, Patrick; Röell, Ailsa - 2003

Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of interest between various corporate claimholders. In this survey we review the theoretical and empirical research on the main mechanisms of...

Persistent link: https://www.econbiz.de/10014023875

Control transfers in corporate Germany : their frequency, causes and consequences

Köke, F. Jens - 2001

This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency of block trading is similar to other countries, and the vast majority of block trades leads to changes in ultimate ownership (control transfers). Such changes are more likely...

Persistent link: https://www.econbiz.de/10011445220

Determinants of acquisition and failure : stylized facts and lessons for empirical studies

Köke, F. Jens - 2001

This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also offers important lessons for the design of empirical studies. We show that firms experiencing failure or acquisition are significantly different from surviving firms on a number of...

Persistent link: https://www.econbiz.de/10011446202

Operating performance changes associated with corporate mergers and the role of corporate governance

Carline, Nicholas F.; Linn, Scott C.; Yadav, Pradeep - 2004

under- or overreacts to merger news when initially revaluing merger partners but corrects any miscalculation following the … consummation of the merger. -- Mergers ; Corporate governance ; Operating performance …

Persistent link: https://www.econbiz.de/10009524824

Does CEO fitness matter?

Limbach, Peter; Sonnenburg, Florian - 2015 - This draft: November 2015

This study provides evidence suggesting that CEOs’ physical fitness has a positive impact on firm value, consistent with the beneficial effects of fitness on, e.g., cognitive functions, stress coping and job performance. For each of the years 2001 to 2011, we define S&P 1500 CEOs as fit if...

Persistent link: https://www.econbiz.de/10011392655

Governance and Merger Activity in Banking

Piskula, Thomas J. - 2012

movements as the news of the merger is made public. The price movement of the acquiring firm's equity around the announcement of … better compensated for managing larger organizations, particularly when involved in merger activity. This study investigated … comprehensive Thomson Reuters SDC merger database and equity values from CRSP. Results indicated that weaker corporate governance is …

Persistent link: https://www.econbiz.de/10013114289

Do Wealth Creating Mergers and Acquisitions Really Hurt Acquirer Shareholders?

Masulis, Ronald W. - 2012

We examine the expected economic benefits of mergers and acquisitions. We conclude that both signaling and revelation biases are responsible for the commonly reported finding that on average takeovers are harmful to bidder shareholder wealth. After accounting for these two biases that lead to a...

Persistent link: https://www.econbiz.de/10013115049

Impact of Mergers and Acquisitions on Returns to Shareholders of Acquiring Firms : Indian Economy in Perspective

Rani, Neelam - 2012

The paper examines the returns to shareholders of acquiring companies in India during the period 2003-08. The abnormal returns due to the announcement of mergers and acquisitions (M&A) and return on equity funds five years before and after M&A have been examined. The study also performs a...

Persistent link: https://www.econbiz.de/10013099698