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Persistent link: https://www.econbiz.de/10001716972
This paper investigates whether and how CEO acquisition-selectivity skill differences have significant cross-sectional effects on firm value. We document that CEO acquisition-selectivity skill and firm performance are diverse in the cross-section of acquiring firms. CEOs with low...
Persistent link: https://www.econbiz.de/10012908916
This study investigates the implications of the cumulative prospect theory in the context of U.S. bank acquisitions, with particular emphasis on its probability weighting component. Specifically, we examine whether gambling attitudes matter in U.S. bank takeover decisions. The evidence...
Persistent link: https://www.econbiz.de/10013100568
We examine whether involuntary CEO replacements pay off by improving firm prospects. We find CEO successors' acquisition investments to be associated with significantly higher shareholder gains relative to their predecessors and the average CEO. This improvement in post-turnover acquisition...
Persistent link: https://www.econbiz.de/10012899356
This study tests whether bank mergers are associated with valuation gains and examines how equity overvaluation and management compensation incentives influence any valuation effects. Our evidence shows that bidders are overvalued relative to their targets, especially in equity offer deals. We...
Persistent link: https://www.econbiz.de/10013060077
This study investigates the implications of the cumulative prospect theory in the context of U.S. bank acquisitions, with particular emphasis on its probability weighting component. Specifically, we examine whether gambling attitudes matter in U.S. bank takeover decisions. The evidence...
Persistent link: https://www.econbiz.de/10013060078
This study investigates the implications of the cumulative prospect theory in the context of U.S. bank acquisitions, with particular emphasis on its probability weighting component. Specifically, we examine whether gambling attitudes matter in U.S. bank takeover decisions. The evidence...
Persistent link: https://www.econbiz.de/10013064168
Persistent link: https://www.econbiz.de/10003550563
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