To examine the Eurozone stock market reactions to European Central Bank (ECB) monetary policy announcement surprises, we study the effect of unexpected changes in the ECB's main refinancing rate on aggregate and sectorial Eurozone equity returns. We also analyse the results according to varying...

Corporate divestments on the stock markets have been studied since long, but the main focus of previous studies has been the firm level impact of divestments. We take this discussion to the industry level and argue that divestments, on average, are carried out in industries, where opportunities...

The widely cited empirical relation between equity misvaluation and the choice of merger currency has been recently called into question in a substantive manner. How can it be that the academic community was misled by this spurious correlation for more than a decade? We investigate this question...

The analysis of US M&A transactions through the last decades reveals a striking and sharp declining in the percentage of transactions fully paid in stock since 2001, the year of pooling and goodwill amortization abolishment (SFAS 141 and 142). Can accounting rule changes have had such far...