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Analysts' forecast revisions and informativeness of the acquirer's stock after M&A transactions

de La Bruslerie, Hubert - Université Paris-Dauphine (Paris IX) - 2015

Are mergers and acquisitions significant events that develop informativeness? Is the informativeness process the same … contradictory. To answer to these questions we use the concept of informativeness to assess whether acquisitions improve the private … information content of stock prices. We consider a sample of mergers and acquisitions in the US and Europe over the 2000 …

Persistent link: https://www.econbiz.de/10011269167

The Effects of Private Equity-Backing in the European Acquisitions of Unlisted Companies

Joly, Vanessa - Université Paris-Dauphine (Paris IX) - 2010

Using a sample of acquisitions of unlisted firms completed by public companies from 17 Western European countries over … announcement period abnormal returns to acquirers. 12.5% of the unlisted targets are PE-backed. Acquisitions of PE-backed firms are …

Persistent link: https://www.econbiz.de/10010708923

Do interventions in foreign exchange markets modify investors' expectations? The experience of Japan between 1992 and 2004

Morel, Christophe; Teiletche, Jérôme - Université Paris-Dauphine (Paris IX) - 2008

The purpose of this paper is to analyze the impact of the Bank of Japan's official interventions on the JPY/USD parity during the period 1992–2004. The novelty of our approach is to combine two recent advances of the empirical literature on foreign exchange interventions: (i) drawing on...

Persistent link: https://www.econbiz.de/10010754232

Do corporate bond and credit default swap markets value environmental, social or corporate governance events?

Berg, Florian; Le Pen, Yannick - Université Paris-Dauphine (Paris IX) - 2013

We measure the impact of negative environmental, social and governance news on corporate bond prices and credit default swap premiums for the Eurozone market. Each firm is affected at least by one piece of news related to its environmental, social and governance practices. Each news is then...

Persistent link: https://www.econbiz.de/10010706465

How does the stock market respond to chemical disasters?

Capelle-Blancard, Gunther; Laguna, Marie-Aude - Université Paris-Dauphine (Paris IX) - 2010

In this paper,we examine the stock market reaction to industrial disasters. We consider an original sample of 64 explosions in chemical plants and refineries worldwide over the period 1990-2005. A quarter of the accidents resulted in a toxic release,and half of them caused at least one death or...

Persistent link: https://www.econbiz.de/10010708253

Takeover contests, toeholds and deterrence

Ettinger, David - Université Paris-Dauphine (Paris IX) - 2009

modeled as an ascending auction with participating costs. The toeholder is more aggressive during the takeover process because …

Persistent link: https://www.econbiz.de/10011166392

Auctions and shareholdings

Ettinger, David - Université Paris-Dauphine (Paris IX) - 2008

) function of vertical (resp: horizontal) toeholds. With both types of toeholds, auction formats are not revenue equivalent …. Expected revenue is affected to a greater extent by the presence of toeholds in the second-price auction than in the first …-price auction. …

Persistent link: https://www.econbiz.de/10010706883

When Does a Firm Disclose Product Information?

Koessler, Frédéric; Renault, Régis - Université Paris-Dauphine (Paris IX) - 2012

A firm chooses a price and the product information it discloses to a consumer whose tastes are privately known. We provide a necessary and sufficient condition on the match function for full disclosure to be the unique equilibrium outcome whatever the costs and prior beliefs about product and...

Persistent link: https://www.econbiz.de/10010733985

Game theory and industrial economics : an introduction

Thisse, Jean-François; Forges, Françoise - Université Paris-Dauphine (Paris IX) - 1992

Persistent link: https://www.econbiz.de/10010905336

A Duopoly Model of Corporate Social Responsibility and Location Choice

Balboni, Alberto; Balboni, Fabio - Université Paris-Dauphine (Paris IX) - 2009

We adopt a framework of vertical differentiation (i.e. differentiation by quality) to study the issue of Corporate Social Responsibility (CSR). We develop a model of duopoly in a two‐country setting, in which firms choose the country of location, the level of CSR and finally compete in the...

Persistent link: https://www.econbiz.de/10011073481