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Creditor Rights, Claims Enforcement, and Bond Performance in Merger and Aqcuisitions
Renneboog, Luc - 2017
This paper shows that country-level differences in creditor protection affect bond performance around cross-border M&A announcements. Using Eurobonds and a global sample of 1,100 cross-border M&As, we find that the bondholders of bidding firms respond more positively to deals that expose their...
Persistent link: https://www.econbiz.de/10012961171
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The Information Content of 10-K’s Disaggregation Quality on Future Firm Performance
Huang, Yulin - 2018
We propose that the disaggregation quality (DQ) of 10-K reports, which measures the detail of accounting information based on a count of non-missing Compustat line items, is valuable in predicting firms' future performance. Empirical results show that firms with higher DQ have higher subsequent...
Persistent link: https://www.econbiz.de/10012911025
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SPACs : Post-Merger Survival
Vulanovic, Milos - 2017
This paper studies how institutional characteristics of Specified Purpose Acquisition Companies (SPACs) are related to their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the proceeds to acquire another private company. Paper finds...
Persistent link: https://www.econbiz.de/10012969005
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SPACs : post-merger survival
Vulanovic, Milos - 2016
This paper studies how institutional characteristics of Specified Purpose Acquisition Companies (SPACs) are related to their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the proceeds to acquire another private company. Paper finds...
Persistent link: https://www.econbiz.de/10011567362
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The Impact of the War in Ukraine on Energy Prices : Consequences for Firms’ Financial Performance
Ferriani, Fabrizio; Gazzani, Andrea Giovanni - 2022
major European firms listed in the Eurostoxx 600 index. We find that equity returns (CDS spread) decreased (increased) more …
Persistent link: https://www.econbiz.de/10014239652
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The Impact of the War in Ukraine on Energy Prices : Consequences for Firms' Financial Performance
Ferriani, Fabrizio; Gazzani, Andrea Giovanni - 2023
major European firms listed in the Eurostoxx 600 index. We find that equity returns (CDS spreads) decreased (increased) more …
Persistent link: https://www.econbiz.de/10014350361
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Strategic News Disclosure Before Index Recompositions
Kläs, Elisabeth - 2016
We investigate firms' disclosure behavior around index recompositions. Our evidence shows that firms moving up to the … Russell 1000 disclose significantly more positive firm-initiated, discretionary news prior to index recompositions, as …
Persistent link: https://www.econbiz.de/10012990007
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Does joining the S&P 500 index hurt firms?
Bennett, Benjamin; Stulz, René M.; Wang, Zexi - 2020
We investigate the impact on firms of joining the S&P 500 index from 1997 to 2017. We find that the positive … announcement effect on the stock price of index inclusion has disappeared and the long-run impact of index inclusion has become … policies change with index inclusion. For instance, payout policies of firms joining the index become more similar to the …
Persistent link: https://www.econbiz.de/10012263191
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Reviewing and revisiting the use of corporate governance indices
Vig, Shinu; Datta, Manipadma - In: International journal of corporate governance : IJCG 9 (2018) 3, pp. 227-241
Persistent link: https://www.econbiz.de/10011957280
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Estimation of trading costs : trade indicator models revisited
Theissen, Erik; Zehnder, Lars Simon - 2014
stocks of the DAX30 index) we find that the the average correlation between these variables is -0.193. We develop modified …
Persistent link: https://www.econbiz.de/10010399356