We study the role of private equity firms in cross-border mergers and acquisitions. We find that private equity-owned firms are more likely to become targets in crossborderM&A transactions. This effect is particularly strong in transactions where the target or its shareholders actively reach out...

This study highlights the link between stock return volatility, operating performance, and stock returns. Prior studies suggest that there is a ‘low volatility' anomaly, where firms with a low stock return volatility out-perform firms with a high stock return volatility. This paper confirms...

We show that it is a signal of deal quality in cross-border M&A if acquirers have private equity firms as owners (‘PE backing'). As such, announcements of cross-border M&A deals by PE-backed acquirers are associated with positive stock price reactions, but only if targets are in poor...