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Cross-border acquisitions and shareholders’ wealth : the case of the Indian pharmaceutical sector

Wajid, Abdul; Sabiha, Anjim; Akhtar, Shakeb; Tabash, … - In: Journal of risk and financial management : JRFM 15 (2022) 10, pp. 1-17

Cross-border acquisitions by Indian companies have increased tremendously, especially during the last two decades, and the pharmaceutical industry is one of the top acquiring industries. This study verifies the relationship between cross-border acquisitions and shareholders’ wealth in the...

Persistent link: https://www.econbiz.de/10013471449

Post-merger returns in frontier markets, or how we learned to stop worrying and love the acquirers

Zaremba, Adam; Szyszka, Adam; Płotnicki, Michał; … - In: Journal of business economics and management 19 (2018) 1, pp. 96-109

This study presents the results from a comprehensive out-of-sample test of long-run returns following mergers and acquisitions (M&As). Using a unique sample from 23 frontier markets of almost 800 transactions conducted during the years 1992 to 2016, we implement both cross-sectional tests and...

Persistent link: https://www.econbiz.de/10012174722

It's the market power, stupid! : stock return patterns in international bank M&A

Hankir, Yassin; Rauch, Christian; Umber, Marc - 2009

of targets, bidders, and their peers upon takeover announcement, and closing or withdrawal. We distinguish five common M …

Persistent link: https://www.econbiz.de/10003893085

Examination of Information Release on Return Volatility : A Market and Sectoral Analysis

Prasad, Mason - 2020

This paper examines the role of information release in explaining return volatility in Australian equities. The study utilised proxies of greater accuracy than have previously been used to examine the effect of private and public information on return volatility. Analyst price targets (PTR) and...

Persistent link: https://www.econbiz.de/10012837894

Information, Analysts, and Stock Return Comovement

Hameed, Allaudeen - 2017

Analysts follow disproportionally firms whose fundamentals correlate more with those of their industry peers. This coverage pattern supports models of profit-maximizing information intermediaries producing preferentially information valuable in pricing more stocks. We designate highly followed...

Persistent link: https://www.econbiz.de/10012976655

Liquidity Impact on Sector Returns of Stock Market : Evidence of China

xu, bing - 2010

Based on the model of weighted nonparametric estimation, the study aims to investigate liquidity impact on sector returns in Stock Exchanges in China. The two results are empirically shown using the data of financial services, traffic facilities, and nonferrous metals sectors from Shanghai and...

Persistent link: https://www.econbiz.de/10013149045

Liquidity Impact on Sector Returns of Stock Market : Evidence of China

Watada, Junzo - 2010

Persistent link: https://www.econbiz.de/10013149057

Neglected Peers in Merger Valuations

Guo, Feng; Liu, Tingting; Tu, Danni - 2021

’ informational advantage as well as their ability to facilitate future takeover transactions, appear to contribute to peers …

Persistent link: https://www.econbiz.de/10013212797

Managerial Talk of Trust and Takeover Performance

Ghufran, Bushra - 2021

of SEC filings (10-K Form) and the prognostic power of such language for takeover performance. The sample under study … long-term takeover performance, suggesting that managerial virtuous talk is, in practicality, an indication of lower post …-acquisition gains for the acquirers in the long run. Furthermore, takeover returns are found to reflect textual information on trust …

Persistent link: https://www.econbiz.de/10013243561

The Impact of the Institutional Environment on Analysts’ Herding Behavior : Evidence from Broker Acquisitions

Fiechter, Peter; Mangeney, Louis - 2020

We examine the influence of institutional factors on herding behavior by exploring changes in security analysts’ institutional environments. Specifically, we identify analysts employed at privately held brokers subsequently acquired by a publicly listed institution (hereafter, “treated...

Persistent link: https://www.econbiz.de/10014361829