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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
becoming the target of an announced merger or acquisition bid. Second, conditional on being a target, we determine which target …
Persistent link: https://www.econbiz.de/10014189701
We examine the impact of acquisitions by UK acquirers on executive pay. The overall sample shows a significant transitory pay increase. Pay changes are not affected by target nationality or organizational form, although initial cross-border acquisitions result in higher pay. Pay increases are...
Persistent link: https://www.econbiz.de/10013103147
overconfident female directors less overestimate merger gains. As a result, firms with female directors are less likely to make …
Persistent link: https://www.econbiz.de/10013091054
This paper provides evidence of merger timing induced by investors' overoptimism. We distinguish between hot and cold … merger markets and examine the movements of bidding firms' stock prices, around, before and after mergers announcements. Our … when investors are highly overoptimistic and react irrationally to a merger announcement. We find evidence that bidders …
Persistent link: https://www.econbiz.de/10013058028
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
We analyze the incentives of CEO inside debt in the form of pensions and deferred compensation in the context of merger … merger or acquisition activity. When firms with increasing levels of CEO inside debt decide to engage in an acquisition …
Persistent link: https://www.econbiz.de/10013298499
The U.S. banking industry has seen waves of mergers since the 1980s. Despite a significant body of research on the determinants of these waves, there are few studies of how CEOs influence banks’ mergers and acquisitions (M&As). This paper studies the effect of CEO aggressiveness on bank M&As....
Persistent link: https://www.econbiz.de/10013405017
This study provides evidence suggesting that CEOs’ physical fitness has a positive impact on firm value, consistent with the beneficial effects of fitness on, e.g., cognitive functions, stress coping and job performance. For each of the years 2001 to 2011, we define S&P 1500 CEOs as fit if...
Persistent link: https://www.econbiz.de/10011392655
their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the … determining post-merger outcomes of new company, specifically when it comes to their suvival/failure. Namely, increases in pre-merger … commitment by SPAC stakeholders and initial positive market performance increase post-merger survival likelihood. On the contrary …
Persistent link: https://www.econbiz.de/10011567362