Ho, Tuan Quoc; Brownen‐Trinh, Ruby; Xu, Fangming - 2021
This paper investigates the informativeness and value relevance of analyst target prices in the context of mergers and … more likely to become a takeover target and offer premium and acquirers’ announcement returns are positively associated …’ takeover likelihood generates economically significant returns. Our results are robust to a battery of additional analysis, and …