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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
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Market misreaction? : leverage and mergers and acquisitions
Krishnan, C. N. V.; Yakimenko, Vasiliy - In: Journal of risk and financial management : JRFM 15 (2022) 3, pp. 1-21
Using a large database of U.S. mergers and acquisitions (M&As) announced from 2010 through 2017, we examine the effects of capital ratio (leverage) on the announcement period stock price reaction as well as on longer-term stock returns and performance, for banks, making comparisons with...
Persistent link: https://www.econbiz.de/10013165300
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The Impact of vertical theories of harm on investor returns : an event study of US vertical mergers
Sonenshine, Ralph; Da, Seyni - In: Journal of risk and financial management : JRFM 15 (2022) 7, pp. 1-19
The welfare implications of vertical mergers have been a subject of disagreement for decades. Similar to horizontal …
Persistent link: https://www.econbiz.de/10013370976
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Does target firm's earnings management affect shareholder's gains? : evidence from China
Mughal, Azhar; Haque, Abdul; Zahid, Zohaib; Ali, Furman; … - In: Credit and capital markets : Kredit und Kapital 55 (2022) 2, pp. 203-226
leading to a takeover announcement. Using a sample of 3,455 Chinese listed firms that are targets of successful acquisitions … also suggests that pre-merger earnings management in target firms is not fully anticipated by the market before the … takeover announcement. We find no evidence of earnings management immediately after the announcement quarter. …
Persistent link: https://www.econbiz.de/10014518537
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The impact of divestitures on shareholder wealth : the DACH case
Teschner, Nils; Paul, Herbert - In: European journal of management and business economics : … 30 (2021) 1, pp. 55-71
Purpose - The purpose of this research is to study the impact of divestitures on shareholder wealth. This study covers selloffs of publicly traded companies in Germany, Austria and Switzerland (DACH region) during the period 2002-2018. It aims to understand the overall effect of selloffs on...
Persistent link: https://www.econbiz.de/10012822022
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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
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Abnormal returns and idiosyncratic volatility puzzle : an empirical investigation in Vietnam stock market
Vo Xuan Vinh; Van Phong Vo; Thanh Phuc Nguyen - In: Cogent economics & finance 8 (2020) 1, pp. 1-25
This paper aims to examine the relation between idiosyncratic volatility (IVOL) and stock returns with full-sample and …
Persistent link: https://www.econbiz.de/10012219258
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Quantile risk-return trade-off
Aslanidis, Nektarios; Christiansen, Charlotte; Savva, … - In: Journal of risk and financial management : JRFM 14 (2021) 6, pp. 1-14
We investigate the risk-return trade-off on the US and European stock markets. We investigate the non-linear risk-return trade-off with a special eye to the tails of the stock returns using quantile regressions. We first consider the US stock market portfolio. We find that the risk-return...
Persistent link: https://www.econbiz.de/10012587977
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High frequency return and risk patterns in US sector ETFs during COVID-19
Gurrib, Ikhlaas; Kamalov, Firuz; Elshareif, Elgilani Eltahir - In: International Journal of Energy Economics and Policy : IJEEP 12 (2022) 5, pp. 441-456
Persistent link: https://www.econbiz.de/10013450588
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Post-earning announcement drift and value-glamour anomalies in NSE listed firms
Gupta, Pankaj Kumar; Dhusia, Devendra Kumar - In: Trends economics and management 15 (2021) 37, pp. 27-42
Purpose of the article: Of the various market anomalies, the Value-Glamour anomaly and Post-Earnings Announcement Drifts (PEAD) have consistently attracted the attention of researchers. Prior studies have established that the reaction of value stocks and glamour stocks to the earnings...
Persistent link: https://www.econbiz.de/10012606896