Bai, Ye; Girma, Sourafel; Riaño, Alejandro - 2020
-level uncertainty is characterized by a pecking order: the announcement of a domestic takeover leads to a reduction in the uncertainty … - engender a positive response in acquirers' volatility. Our results suggest that acquisitions affect uncertainty because they …This paper studies the impact of corporate acquisitions - both domestic and cross-border - on the uncertainty faced by …