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We find that corporate governance characteristics of acquiring firms (board ownership, board size, and block-holder control) have an economically and statistically significant impact on operating performance changes following mergers. We also show that dispersion of intra-board ownership stakes...
Persistent link: https://www.econbiz.de/10013147465
We find that corporate governance characteristics of acquiring firms (board ownership, board size, and block-holder control) have an economically and statistically significant impact on operating performance changes following mergers. We also show that dispersion of intra-board ownership stakes...
Persistent link: https://www.econbiz.de/10009524824
Persistent link: https://www.econbiz.de/10003886778
Our study is among the first to examine the net asset value (NAV) inflation practices of fund managers in China, finding that equity funds bolster their portfolios at quarter-end and especially year-end. In support of the NAV inflation hypothesis in China, we further document the following: (1)...
Persistent link: https://www.econbiz.de/10012902188
This study empirically explores the dynamic relation between the environmental and social (ES) performance of a firm and its stock market returns. We find robust evidence that worse stock market performance increases firms' efforts on ES activities. We show these patterns are present in firms...
Persistent link: https://www.econbiz.de/10012854097
Persistent link: https://www.econbiz.de/10013449386