We analyze cross-border acquisitions (CBAs) in the context of growth options by investigating the shareholder wealth effects of acquirers and targets and changes in financial analysts’ earnings forecasts for acquiring firms announcing CBAs. Our sample of 16,435 global CBAs over the 1984–2008...

This study examines the short-term wealth impact of cross-border mergers and acquisitions (M&As) by acquiring companies in 70 countries between the years of 1978 and 2008. We find persistent stock performance in sequential cross-border M&As; that is, the acquiring firms that gained positive...

In this study we examine the relationship between CEO power, corresponding acquisition activities and market reactions to mergers and acquisitions (M&A) announcements with a Canadian M&A dataset (1997–2005). We use CEO excess pay as a proxy for CEO power. Our empirical results show that the...