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Riding the merger wave: Uncertainty, reduced monitoring, and bad acquisitions

Duchin, Ran; Schmidt, Breno - In: Journal of Financial Economics 107 (2013) 1, pp. 69-88

corporate governance of in-wave acquirers is weaker, suggesting that agency problems may be present in merger wave acquisitions. …

Persistent link: https://www.econbiz.de/10011039224

Does cross-listing in the US foster mergers and acquisitions and increase target shareholder wealth?

Cosset, Jean-Claude; Meknassi, Siham - In: Journal of Multinational Financial Management 23 (2013) 1, pp. 54-73

We examine the role of cross-listing in alleviating domestic market constraints and facilitating mergers and acquisitions. Our results show that cross-listing allows shareholders of target firms to extract higher takeover premiums relative to their non-cross-listed peers. Moreover, shareholders...

Persistent link: https://www.econbiz.de/10010636094

Mergers and acquisitions in the Ausrian banking sector : a performance analysis

Hahn, Franz R. - 2004

In this paper we investigate the performance of the Austrian banks which have, either actively or passively, participated in a domestic intra-banking merger or acquisition operation since 1995. For this purpose we apply the DEA methodology in combination with a Tobit regression approach to...

Persistent link: https://www.econbiz.de/10011494585

Impact of social responsibility on the quality of company governance

Jurić, Ana; Zupanc, Aleksandra; Štrukelj, Tjaša - In: Naše gospodarstvo : NG 65 (2019) 2, pp. 21-29

The central aim of the article is company governance, i.e., researching governance of a company that does not want to … be only financially successful but also direct its governance toward socially responsible governance. The article begins … with the definition of "theoretical backgrounds," in which social responsibility in regard to company governance …

Persistent link: https://www.econbiz.de/10012040099

Acquisitions, markups, efficiency, and product quality : evidence from India

Stiebale, Joel; Vencappa, Dev - 2016

This paper uses a rich panel data set of Indian manufacturing firms to analyze the effects of domestic and international acquisitions on various outcomes at target firm and product level. We apply recent methodological advances in the estimation of production functions together with information...

Persistent link: https://www.econbiz.de/10011548253

Merger options and risk arbitrage

Van Tassel, Peter - 2016

Option prices embed predictive content for the outcomes of pending mergers and acquisitions. This is particularly important in merger arbitrage, where deal failure is a key risk. In this paper, I propose a dynamic asset pricing model that exploits the joint information in target stock and option...

Persistent link: https://www.econbiz.de/10011413251

Do intellectual property rights influence cross-border mergers and acquisitions?

Campi, Mercedes; Dueñas, Marco; Barigozzi, Matteo; … - 2016

This paper analyses whether the strengthening of intellectual property rights (IPRs) systems affects decisions of cross-border mergers and acquisitions (M&As), and whether their influence is different for developed and developing countries and across industrial sectors. We estimate an extended...

Persistent link: https://www.econbiz.de/10011509119

The intangibles song in takeover announcements : good tempo, hollow tune

Filipovic, Zoran M.; Wagner, Alexander F. - 2019

Mergers and acquisitions are often motivated by the intention of creating value from intangible assets. We develop a novel word list of intangibles and apply it to takeover announcements. Deals presented with more “intangibles talk” complete more quickly. However, the value of these deals to...

Persistent link: https://www.econbiz.de/10011976989

Does CEO fitness matter?

Limbach, Peter; Sonnenburg, Florian - 2015 - This draft: November 2015

This study provides evidence suggesting that CEOs’ physical fitness has a positive impact on firm value, consistent with the beneficial effects of fitness on, e.g., cognitive functions, stress coping and job performance. For each of the years 2001 to 2011, we define S&P 1500 CEOs as fit if...

Persistent link: https://www.econbiz.de/10011392655

The impact of cross-border mergers and acquisitions on the acquirers' R&D - firm level evidence

Stiebale, Joel - 2013

This paper provides empirical evidence on the relationship between cross-border acquisitions and innovation activities of the acquirer. For the empirical analysis a unique firm-level data set is constructed that combines survey data for German firms with a merger and acquisition database. After...

Persistent link: https://www.econbiz.de/10011609709

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