Similar Search Results

International Mergers and Acquisitions Laws, the Market for Corporate Control and Accounting Conservatism

Khurana, Inder K. - 2018

corporate takeover threat, this paper examines how a disciplinary market for corporate control affects accounting conservatism … shareholder protection and in those experiencing larger growth in takeover activity. Further analysis reveals that elevated … takeover threats increase conservatism through changes in capital structure and investment decisions as well as improvements in …

Persistent link: https://www.econbiz.de/10012909840

Board Composition After Mergers : Does It Matter to Target Shareholders?

Wang, Hongxia - 2018

This paper examines whether post-merger board composition affects the premiums paid to target shareholders. Using a sample of 207 stock-for-stock mergers from 1996 to 2004, we show that target merger premiums vary inversely with target director representation on the post-merger board. We also...

Persistent link: https://www.econbiz.de/10012911226

Corporate Blockholders and Financial Leverage

Bui, Thuy - 2018

This research investigates the relationship between corporate block ownership and firm financial leverage. Corporate blockholders, which are nonfinancial firms who hold more than five percent equity in a target industrial firm, can affect the target firm's policies through their business...

Persistent link: https://www.econbiz.de/10012911552

Shareholder Wealth Effects of Cultural Diversity Among Blockholders : Evidence From Cross-Border Acquisitions by US Listed Companies

Chen, Victor Zitian - 2019

Manuscript Type: EmpiricalResearch Question/Issue: This paper studies whether and how diversity among blockholders in their cultural preferences may affect short-term shareholder wealth. Blockholders often hold diverse objectives, leading to principal-principal (PP) conflicts in cross-border...

Persistent link: https://www.econbiz.de/10012893455

Upsetting Deals and Reform Loop : Can Companies and M&A Law in Europe Adapt to the Market for Corporate Control?

Gatti, Matteo - 2019

overreactive in nature, stymie the market, and create new opportunities for regulatory arbitrage. This is not surprising: takeover …

Persistent link: https://www.econbiz.de/10012898923

Does Shareholder Voting Matter? Evidence from the Takeover Market

Mason, Paul - 2018

suggest self-serving behavior — managers may be avoiding shareholder votes to effectuate suboptimal transactions at the …

Persistent link: https://www.econbiz.de/10012935492

Corporate Control Activism

Corum, Adrian Aycan - 2018

This paper studies the role of activist investors in the M&A market. Our theory proposes that activist investors have an inherent advantage relative to bidders in pressuring entrenched incumbents to sell. As counterparties to the acquisition, bidders have a fundamental conflict of interests with...

Persistent link: https://www.econbiz.de/10012937295

International Corporate Governance Spillovers : Evidence from Cross-Border Mergers and Acquisitions

Albuquerque, Rui A. - 2018

We test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data from 64 countries during the period 2005-2014, we find that cross-border M&A activity is associated with subsequent improvements in the governance of...

Persistent link: https://www.econbiz.de/10012938394

The Corporate Governance Roles of Information Quality and Corporate Takeovers

Li, Jing - 2018

We examine the corporate governance roles of information quality and the takeover market with asymmetric information … regarding the value of the target firm. Increasing information quality improves the takeover efficiency, however, a highly … efficient takeover market also discourages the manager from exerting effort. We find that perfect information quality is not …

Persistent link: https://www.econbiz.de/10012940178

Reputational Concerns in the Market for Corporate Control

Boone, Audra L. - 2018

outside of their area.Collectively, these findings suggest that managers account for potential negative spillover effectsin …

Persistent link: https://www.econbiz.de/10012940277