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This study investigates how policy uncertainty affects the acquisition process during the post-announcement period. Utilizing a sample of Australian mining sector acquisitions over 1998-2017, we find that rising policy uncertainty after initial acquisition announcements is associated with delays...
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This study investigates the economic consequences of fair value disclosure of earnouts required by IFRS 3 (2008). Due to the counterintuitive income statement effects of fair value accounting for changes in financial liabilities, acquirers are likely to overstate earnout liabilities at the...
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This study investigates how policy uncertainty affects firms' asset acquisitions and explores whether deal structure matters in mitigating uncertainty-related costs. Using a unique hand-collected sample of asset acquisitions with a mixture of staged and non-staged transactions, we document that,...
Persistent link: https://www.econbiz.de/10012845844
Despite growing importance of project loans in funding large-scale projects, there is a void in the literature examining market reactions to project financing. Using a unique hand-collected sample of project finance approval announcements by Australian-listed mining firms, we document a...
Persistent link: https://www.econbiz.de/10012856781