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The brewing industry has recently experienced increased merger activity. This paper analyzes the shortterm wealth … effects of horizontal mergers and acquisitions on acquirers in the brewing industry. Based on a sample of 69 takeover …
Persistent link: https://www.econbiz.de/10013090726
Prior research has addressed the question of whether certain events cause a transfer of wealth between stockholders and bondholders but does not control for the events' impacts on firms' credit risk. This may explain why many studies fail to identify wealth transfers. By employing announcements...
Persistent link: https://www.econbiz.de/10013093714
This study examines the role of mergers and acquisitions in offsetting adverse market reaction to corporate scandals and litigation on share price and therefore, shareholder wealth creation for pharmaceutical companies. Using a sample of 10 major pharmaceutical companies with financial data from...
Persistent link: https://www.econbiz.de/10013044259
We investigate the impacts of cultural environment on mergers and acquisitions (M&A) in the U.S. To measure the cultural environment of a firm, we use several variables of cultural dimension widely adopted in the literature, such as the percentage of religious adherents and the percentage of...
Persistent link: https://www.econbiz.de/10013045364
declared that an informed and un-coerced shareholder vote in favor of a merger should lead courts to look skeptically at claims … voting on a proposed merger …
Persistent link: https://www.econbiz.de/10012910892
This research examines the relation between political corruption and mergers and acquisitions (M&As). We find that local corruption increases firm acquisitiveness but decreases firm targetiveness. The levels of corruption in acquirer areas relate positively to the bid premiums and negatively to...
Persistent link: https://www.econbiz.de/10012899211
-level measure of cultural trust based on the World Values Survey data and find that a larger social trust distance between two …
Persistent link: https://www.econbiz.de/10012901142
of mergers and acquisitions around the world …
Persistent link: https://www.econbiz.de/10012904123
We explore the valuation, tax and post-merger performance consequences of M&As with tax haven firms. Using an …
Persistent link: https://www.econbiz.de/10012905023
world. We find evidence of a strong positive association between VC investments and lagged M&A activity, consistent with the … engage in more deals. We also explore the effects of country-level pro-takeover legislation passed internationally (positive … post-law changes in VC activity. VC activity intensifies after enactment of country-level takeover friendly legislation and …
Persistent link: https://www.econbiz.de/10012453631