business combinations, on change in market expectations. Using the concept of abnormal goodwill - as a proxy for PPAs' quality … returns can be systematically generated based on abnormal goodwill recognized in PPAs. …

the following results: (1) Abnormal Goodwill is negatively associated with cumulative abnormal returns surrounding the … first disclosure of the PPA, (2) there is a stronger negative reaction to Abnormal Goodwill for acquisitions that were … increases as Abnormal Goodwill increases, and (4) future performance decreases as Abnormal Goodwill increases. Overall, our …

business combinations, on change in market expectations. Using the concept of abnormal goodwill - as a proxy for PPAs' quality … returns can be systematically generated based on abnormal goodwill recognized in PPAs. …