We compare 20 years of data from Thompson Financial SDC Platinum (SDC)'s Mergers and Acquisitions database with a hand-collected database, providing evidence on the completeness and accuracy of SDC data across time. We find that our hand-collected data is generally more accurate than SDC, but...

This study compares four broadly available industry classification schemes in a variety of applications common to capital market research. Standard Industrial Classification (SIC) codes have been available since 1939 but are being replaced by North American Industry Classification System (NAICS)...

We track trading activity in the days preceding acquisition announcements for target firms and find that abnormally high trading volume precedes significant price movement. Using additional intraday data, we find increased active-selling in target stocks before acquisition announcements that...

From an agency perspective, leverage may have a positive effect on firm performance by limiting managers’ ability to allocate resources to unproductive uses, as well as increasing pressure on them to perform well. Consequently, we might expect leverage to have a positive impact on acquisition...

Economic theory suggests that multiple financial and non-financial measures (i.e., a strategic performance measurement system "SPMS") be used in compensation contracting to properly direct employees' attention and motivate behavior aligned with organizational goals. Conversely, linking...

Research in consumer psychology shows that customers seek reasons for service failures and that attributions of blame moderate the effects of failure on the level of customer satisfaction. This paper extends research on service operations failures by hypothesizing that attributions of blame also...