-level uncertainty is characterized by a pecking order: the announcement of a domestic takeover leads to a reduction in the uncertainty … - engender a positive response in acquirers' volatility. Our results suggest that acquisitions affect uncertainty because they …This paper studies the impact of corporate acquisitions - both domestic and cross-border - on the uncertainty faced by …

wealth of shareholders either positively or negatively. According to Hubris hypothesis, the merger and acquisition … coefficient of dummy for merger was -0.52 with statistical significance at 1% level which is demonstrating negative effect on … share price which ultimately reduces the returns. The study concluded that merger and acquisition announcement bring …

, controlling for this EF, merger size is unrelated to announcement period returns …