In this comprehensive study of all shipping mergers and acquisitions from 1984 to 2011 we document that the shareholders of both acquirers and targets realise average abnormal gains of 1.2% and 3.3% respectively and both parties gain more from diversifying than focus-increasing deals. Acquirers...

This article empirically analyses the initial and aftermarket returns for US-listed Shipping initial public offerings (IPOs). Our main objective is to fulfil the great need for the US Shipping evidence on long-run performance of IPOs. We aim to test the extent to which signalling models explain...

We uncover strong evidence that newly public firms run by financial expert CEOs have a lower probability of involuntary delisting and a longer survival time in the aftermarket. This result is robust to alternative definitions of long-term viability and endogeneity concerns. We attribute this...