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Cross-Border Asset Sales : Shareholder Returns and Liquidity
Borisova, Ginka - 2013
return is driven by liquidity-constrained sellers engaging in cross-border transactions. Larger seller returns in these …
Persistent link: https://www.econbiz.de/10013094994
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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
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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
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Conditional Returns to Shareholders of Bidding Firms : An Australian Study
Akhtar, Farida - 2013
announcement events. Takeover announcements are not random because managers decide rationally whether to bid or not, this indicates …
Persistent link: https://www.econbiz.de/10013077619
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Returns to Acquirers of Listed and Unlisted Targets : An Examination of Australian Bidders
Nguyen, Pascal - 2014
We analyze the market reaction to the announcement of takeover bids initiated by Australian public firms on private and …
Persistent link: https://www.econbiz.de/10013048623
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Returns to Acquirers of Listed and Unlisted Targets : An Examination of Australian Bidders
Nguyen, Pascal - 2014
We analyze the market reaction to the announcement of takeover bids initiated by Australian public firms on private and …
Persistent link: https://www.econbiz.de/10013048624
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Cash Holdings and Bond Returns Around Takeovers
Podolski, Edward - 2016
paper is the first to document the role of cash holdings on bondholder wealth around takeover announcements …
Persistent link: https://www.econbiz.de/10013006488
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Cash Holdings, Corporate Governance and Acquirer Returns
Ahn, Seoungpil - 2016
The wealth effect of limiting shareholder rights via anti-takeover provisions (ATPs) is a contentious issue. By taking …
Persistent link: https://www.econbiz.de/10013008214
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The Effect of Credit, Liquidity and Rollover Risk on Bondholder Wealth in Mergers and Acquisitions
Jankowitsch, Rainer; Pauer, Florian - 2021
market. In particular, we investigate the effect of changes in credit, liquidity and rollover risk. This is important, as … significantly change the debt maturity structure and liquidity risk of these bonds. We find the size of the average announcement …. Furthermore, we document a permanent increase of 15% in the liquidity of these bonds. We find only small negative returns for …
Persistent link: https://www.econbiz.de/10013222553
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Mergers and Acquisitions Valuation : Cash vs Stock Payment
Feito-Ruiz, Isabel - 2013
The aim of this paper is to study the influence of the Merger and Acquisition (M&A) payment method decision on the acquiring shareholders' M&A valuation, considering the relevance of the acquiring ownership structure and the legal and institutional environment, and the possibility that the...
Persistent link: https://www.econbiz.de/10013079367