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Mergers and Acquisitions in Latin America : Industrial Productivity and Corporate Governance

Cortes, Lina - 2016

This paper examines the impact of industrial productivity on transnationals M&As from OECD countries towards Latin American countries in the period 1996 to 2010. It also analyzes the relationship between external mechanism of corporate governance and transnational M&As. For this purpose we use a...

Persistent link: https://www.econbiz.de/10012996580

Shareholder Rights in Mergers and Acquisitions : Are Appraisal Rights Being Abused?

Kalodimos, Jonathan - 2017

Appraisal rights grant dissenting shareholders in an acquisition the right to petition the court to determine the value of their shares. These rights can protect shareholders from acquisitions below fundamental value or can be abused by opportunistic investors. We examine the use of appraisal...

Persistent link: https://www.econbiz.de/10012966206

The Further Erosion of Investor Protection : Expanded Exemptions, SPAC Mergers and Direct Listings

Tuch, Andrew F.; Seligman, Joel - 2022

This article examines the decades-long decline of investor protections enshrined in the Securities Act of 1933, most notably Section 11, which imposes near strict liability on corporate insiders and certain secondary actors, primarily underwriters. The provision, the most potent in the federal...

Persistent link: https://www.econbiz.de/10013403507

Aggressive CEOs and Bank Mergers and Acquisitions

Ji, Mingming; Jiang, Liangliang - 2022

The U.S. banking industry has seen waves of mergers since the 1980s. Despite a significant body of research on the determinants of these waves, there are few studies of how CEOs influence banks’ mergers and acquisitions (M&As). This paper studies the effect of CEO aggressiveness on bank M&As....

Persistent link: https://www.econbiz.de/10013405017

Is Corporate Governance Important for Regulated Firms’ Shareholders? Evidence from Japanese Mergers and Acquisitions

Nogata, Daisuke - 2010

This paper compares the reaction of bidders' stock prices to acquisition announcements by regulated non-financial firms, banks, and unregulated companies in Japan. Results suggest that regulated non-financial firms do not experience a significant stock price response at M&A announcements,...

Persistent link: https://www.econbiz.de/10013149286

The Impact of Government Borrowing on Corporate Acquisitions : International Evidence

Alimov, Azizjon - 2022

This paper examines how variation in the supply of government debt affects corporate acquisition activity. Using data from 50 countries from 1991 to 2017, the paper finds that government debt issuance is strongly negatively associated with acquisition activity at the firm and aggregate levels....

Persistent link: https://www.econbiz.de/10013308162

Investor Sentiment and Antitrust Law as Determinants of Corporate Ownership Structure : The Great Merger Wave of 1897 to 1903

Cheffins, Brian R. - 2010

A great merger wave occurring in the United States between 1897 and 1903 was the single most important event in a … dispersed share ownership. The merger wave of 1897 to 1903 illustrates that surges in demand for shares founded upon optimistic …

Persistent link: https://www.econbiz.de/10014103270

The Wealth of Private Firm Owners Following Reverse Mergers

Greene, Daniel - 2015

I compare the wealth of private firm owners that exit their firms through reverse mergers (RMs) to the wealth that could have been obtained in initial public offerings (IPOs), sellouts, or by remaining private. Private firm owners that use the RM exit mechanism have significantly less post-exit...

Persistent link: https://www.econbiz.de/10013029211

Dynamics in ownership and firm survival: evidence from corporate Germany

Heiss, Florian; Köke, Jens - 2001

This study investigates the determinants of changes in corporate ownership and firm failure, taking into account different types of sellers and buyers of control blocks. For a large panel of German corporations we find that firms are more likely to fail or to be sold when performance is poor,...

Persistent link: https://www.econbiz.de/10010297800

Passive shareholders as a takeover defense

Bodnaruk, Andrij; Gao, Pengjie; Östberg, Per; Yun, Hayong - 2011

more passive shareholders (lower ownership per non-institutional shareholder) are less likely to be takeover targets, less … likely to be acquired and command higher premiums. Using the adoption of anti-takeover law in Delaware as an exogenous shock … to anti-takeover protection, we show that the passiveness of shareholder base decreases as the takeover threat subsides …

Persistent link: https://www.econbiz.de/10009009605