We examine how the market reacts to announcements of mergers and acquisitions (M&As) by well-performing acquirers and evaluate the results in light of three hypotheses: 1) managerial ability, 2) empire building, and 3) chief executive officer (CEO) overconfidence. Our results indicate that an...

We examine the dynamic relationship between board diversity and firm performance in an Indian context using a systems generalized method of moments and control function approach. Our baseline analysis shows that board diversity positively influences accounting performance but negatively affects...

This paper reviews financial performance measures and revisits the theory of finance because it provides a foundation that helps to understand the relationships among these measures. We examine these measures in both a single-period and multi-period world. In a single-period world, we conclude...