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Corporate Governance and Takeover Outcomes

Aktas, Nihat - 2015

of corporate governance. We highlight how the different corporate governance mechanisms affect the takeover process and … outcomes. The internal and external governance mechanisms that we consider are: the board of directors, the takeover market …

Persistent link: https://www.econbiz.de/10013023570

Deconstructing Mergers and Acquisitions and Corporate Scandals in Pharmaceutical Industry

Khan, Dr Hassaan - 2014

This study examines the role of mergers and acquisitions in offsetting adverse market reaction to corporate scandals and litigation on share price and therefore, shareholder wealth creation for pharmaceutical companies. Using a sample of 10 major pharmaceutical companies with financial data from...

Persistent link: https://www.econbiz.de/10013044259

Shared Auditors in Mergers and Acquisitions

Dhaliwal, Dan S. - 2015

We examine the impact of shared auditors, defined as audit firms that provide audit services to a target and its acquirer firm prior to an acquisition, on transaction outcomes. We find shared auditors are observed in nearly a quarter of all public acquisitions and targets are more likely to...

Persistent link: https://www.econbiz.de/10013035695

Mergers and Acquisitions : A Trend Analysis in Bio-Tech Equipments Industry

Deshpande, Nikhil - 2021

The author has analyzed 585 “announced” M&A transactions globally in the field of “Bio-Technology Equipments” (manufacturers and traders) from January 2006 to December 2020. Further, the author has also analyzed these transactions based on the target’s geographical locations. The...

Persistent link: https://www.econbiz.de/10013212079

Comparing CEO Compensation Effects of Public and Private Acquisitions

Brander, James A.; Egan, Edward J.; Endl, Sophie - 2021

We estimate the effect of acquisition performance and acquisition activity on CEO compensation for the full set of CEOs of large public U.S. corporations in the Execucomp database over the period 1992-2016. Most previous work has focused on publicly traded acquisition targets. We focus on the...

Persistent link: https://www.econbiz.de/10013243540

The Predictive Power of Managerial Tone : A Text-Based Analysis of Takeover Performance

Breuer, Wolfgang; Ghufran, Bushra - 2021

predict long-term gains to the acquirers. In order to predict long-term takeover performance, we apply textual analysis to the … reveal that a negative managerial tone has a strong negative association with takeover performance, whereas a positive … managerial tone indicates managerial confidence in merger success, and hence reflects an enhanced takeover performance over an …

Persistent link: https://www.econbiz.de/10013243562

Renegotiations of Target CEOs' Personal Benefits During Mergers and Acquisitions

Patrick, Paige Harrington - 2017

Many view large payments following mergers or acquisitions as excessive and evidence of rent extraction. Using additional disclosures required by the SEC since 2006, I hand-collect details of pre-existing change in control (CIC) provisions in employment agreements and CIC benefits granted to...

Persistent link: https://www.econbiz.de/10012948009

Takeover Defenses in the Era of Shareholder Activism

Shin, Sa-Pyung Sean - 2016

This paper examines the interplay between takeover defenses and shareholder activism. Using a comprehensive sample of … shareholder activism events between 2006 and 2014, I find a differential impact of takeover defense measures on the likelihood of … in place are more likely to become targets. Activists are more likely to demand removal of takeover defense measures and …

Persistent link: https://www.econbiz.de/10012982580

Shareholder Rights in Mergers and Acquisitions : Are Appraisal Rights Being Abused?

Kalodimos, Jonathan - 2017

Appraisal rights grant dissenting shareholders in an acquisition the right to petition the court to determine the value of their shares. These rights can protect shareholders from acquisitions below fundamental value or can be abused by opportunistic investors. We examine the use of appraisal...

Persistent link: https://www.econbiz.de/10012966206

Methodologies Used to Determine Mergers and Acquisitions’ Performance

Sethi, Madhvi; Krishnakumar, Dipali - 2016

Over the years, several studies have been done by researchers and practitioners to understand the significance of adopting Mergers & Acquisitions (M&A) strategy by organizations. The motivation has been to understand whether the perceived benefits from this strategy have accrued or not. They...

Persistent link: https://www.econbiz.de/10014183845