merger and acquisition deals. In this event study, we adopt an industry adjusted leverage proxy. No evidence of premerger …

from merger, and to flatter performance measures following merger.Third, legal and taxation arrangements often enable … explores ways in which these three characteristics can lead to a sequence in which one inefficient merger facilitates a further … inefficient merger, which then aids a further inefficient merger, and so on. ‘Inefficient’ in this sense means that the merger …

leading to a takeover announcement. Using a sample of 3,455 Chinese listed firms that are targets of successful acquisitions … also suggests that pre-merger earnings management in target firms is not fully anticipated by the market before the … takeover announcement. We find no evidence of earnings management immediately after the announcement quarter. …

all bidders forecast, we document a higher likelihood of post-merger litigation and CEO turnover for bidders with a weak … forecasting reputation and for those that underperform post-merger …

. Therefore, this study aims to close this gap by exploring the effect of merger announcements on CDS spreads empirically. A …