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Persistent link: https://www.econbiz.de/10009564262
unexplored.From the Croatian perspective, analyses of the success of target firms following the takeover seem to be relevant and … needed. Statistic data shows that Croatian firms participate in cross-border M&As mainly as takeover targets. The …-year time spread (two years prior and five-year following the takeover). The gathered data compares relative values of assets …
Persistent link: https://www.econbiz.de/10013081692
unexplored.From the Croatian perspective, analyses of the success of target firms following the takeover seem to be relevant and … needed. Statistic data shows that Croatian firms participate in cross-border M&As mainly as takeover targets. The …-year time spread (two years prior and five-year following the takeover). The gathered data compares relative values of assets …
Persistent link: https://www.econbiz.de/10013085269
The distribution of firm sizes is known to be heavy tailed. In order to account for this stylized fact, previous studies have focused mainly on growth through investments in a company's own operations (internal growth). Thereby, the impact of mergers and acquisitions (M&A) on the firm size...
Persistent link: https://www.econbiz.de/10011518770
This study examines the contradictory predictions regarding the association between the premium paid in acquisitions and deal size. We document a robust negative relation between offer premia and target size, indicating that acquirers tend to pay less for large firms, not more. We also find that...
Persistent link: https://www.econbiz.de/10013115116
economies. Entrenchment mechanisms commonly used by US firms in the form of anti-takeover provisions (ATPs) may offer some … in terms of announcement returns and long-run operating performance improvements. Takeover premiums are also … evidence, larger acquirers are just as likely to be targeted for takeover as smaller acquirers, indicating that size is not an …
Persistent link: https://www.econbiz.de/10013116334
takeover literature suggests that size can enable managerial entrenchment and value-destruction. However, in weak governance …
Persistent link: https://www.econbiz.de/10013068491
We show that corporate taxation systems regarding foreign dividends and capital gains across 49 countries differ in many aspects, contradicting the requirements for capital ownership neutrality and indicating that ownership patterns are distorted. Consequently, a national tax policy maker may...
Persistent link: https://www.econbiz.de/10012953177
Acquisitions by larger firms seem to generate less wealth for acquirer stockholders than acquisitions by smaller firms. In this paper, we re-examine the ‘size effect', but separately for serial and non-serial acquisition. We find sample-selection bias results in a spurious size effect for...
Persistent link: https://www.econbiz.de/10012936371
We show that corporate taxation systems regarding foreign dividends and capital gains across 49 countries differ in many aspects, contradicting the requirements for capital ownership neutrality and indicating that ownership patterns are distorted. Consequently, a national tax policy maker may...
Persistent link: https://www.econbiz.de/10012932367