Narrow search
Showing 1 - 10 of 275,477
Cover Image
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
Cover Image
Transfers of Corporate Control in Firms with Non-Controlling Blockholders
Stepanov, Sergey - 2017
I model the choice between a negotiated block trade and a public tender offer as means of acquiring control in a firm with a large minority blockholder. Potential acquirers differ in their (privately known) value-creation ability. In equilibrium, block trades are made by lower ability acquirers...
Persistent link: https://www.econbiz.de/10012974811
Cover Image
Shareholder Rights and Bidder Returns : The Impact of Market Learning and M&A Activity
Ahn, Seoungpil - 2016
I examine whether market learning and M&A activity affect the association between shareholder rights and acquisition performance. Using a sample of acquisitions completed in the period of 1990-2006, I find that the negative association between governance indices and bidder returns disappears in...
Persistent link: https://www.econbiz.de/10012980117
Cover Image
Value Relevance of Mergers Blocked by Shareholder Lawsuits According to the German Stock Corporation Act : An Event Study
Labrenz, Helfried - 2014
This paper analyses lawsuits against shareholders' resolutions according to the German Stock Corporation Act (AktG) and the German Reorganisation Act (UmwG). A merger passed at the General Annual Meeting will not move forward as long as any lawsuit is pending with a court. In particular, mergers...
Persistent link: https://www.econbiz.de/10013058808
Cover Image
Controlling Shareholder Stock Pledge, Aggravated Expropriation and Corporate Acquisitions
Yan, Siyuan - 2020
We examine the effects of controlling shareholder stock pledge on corporate acquisition decisions and associated performance. Consistent with our aggravated expropriation hypothesis, we find that pledging firms in China initiate more takeovers, but these acquisitions conducted by pledging firms...
Persistent link: https://www.econbiz.de/10012832661
Cover Image
Investor Activism and Mergers and Acquisitions (M&A)
Singh, Akshay - 2016
This study analyzed activism that leads to a merger or acquisition (M&A) of a firm to see its benefits for the shareholders at the target firm as well as its acquirer. It used over thirty years of data to understand the impact of the activists’ demands of strategic significance for the firms....
Persistent link: https://www.econbiz.de/10014034757
Cover Image
Estimating private benefits of control form stock price changes around the announcement of tender offer bid (TOB)
Suzuki, Kazunori - In: Public policy review 11 (2015) 3, pp. 411-426
Persistent link: https://www.econbiz.de/10011312183
Cover Image
Reassessing the Rationales for the Takeover Bids Directive's Board Neutrality Rule
White, Alexander - 2013
This article evaluates the Takeover Bids Directive's board neutrality rule, in light of the European Commission …
Persistent link: https://www.econbiz.de/10013088199
Cover Image
Governance Characteristics and the Market Reaction to the SEC's Proxy Access Rule
Akyol, Ali C. - 2015
We examine the wealth effects of the SEC's recent proxy access rule to facilitate director nominations by shareholders. We focus on how a firm's governance characteristics affect the market reaction to the rule. We find more negative announcement effects for firms with high probabilities of...
Persistent link: https://www.econbiz.de/10013021647
Cover Image
Preemptive bidding, target resistance, and takeover premiums
Dimopoulos, Theodosios; Sacchetto, Stefano - 2011
This paper empirically evaluates two possible sources of large takeover premiums: preemptive bidding and target … resistance. We develop an auction model that features costly sequential entry of bidders in takeover contests and that … in the period 1988-2006. We find that target resistance is the main determinant of takeover premiums in 74% of successful …
Persistent link: https://www.econbiz.de/10009375142