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Persistent link: https://www.econbiz.de/10013272036
In a sample of 1,507 US all-public acquisitions from 1985—2014, 5% of acquirers use the same advisor that underwrote the target’s initial public offering. Acquirers who use these informed advisors have acquisition announcement three-day cumulative abnormal returns (CARs) that are 2.048...
Persistent link: https://www.econbiz.de/10013236842
In a sample of 1,507 US all-public acquisitions from 1985—2014, 5% of acquirers use the same advisor that underwrote the target's initial public offering. Acquirers who use these informed advisors have acquisition announcement three-day cumulative abnormal returns (CARs) that are 2.048...
Persistent link: https://www.econbiz.de/10012854836
Persistent link: https://www.econbiz.de/10009550154
The likelihood and speed of forced CEO turnover - but not voluntary turnover - are positively related to a firm's earnings management. These patterns persist in tests that consider the effects of earnings restatements, regulatory enforcement actions, and the possible endogeneity of CEO turnover...
Persistent link: https://www.econbiz.de/10013094971