Results 271 to 280 of about 717,166 (300)

Private and Public Merger Waves

The Journal of Finance, 2010
ABSTRACTWe document that public firms participate more than private firms as buyers and sellers of assets in merger waves and their participation is affected more by credit spreads and aggregate market valuation. Public firm acquisitions realize higher gains in productivity, particularly for on‐the‐wave acquisitions and when the acquirer's stock is ...
Vojislav Maksimovic, Gordon M. Phillips, Liu A. Yang   +2 more
openaire   +1 more source

Market Timing and Merger Waves

SSRN Electronic Journal, 2014
Merger activity tends to peak at times of high stock prices. I examine the allocation of equity issue proceeds conditional on the level of merger activity to shed light on the source of this empirical regularity. I find that firms do not allocate more of the equity proceeds raised in high merger times to increase debt repayment or to increase equity ...
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Cross-border merger waves

Journal of Corporate Finance, 2017
Abstract We examine the valuation effects of cross-border merger and acquisition (M&A) waves. Like domestic M&As, cross-border M&As cluster by industry and time. Cross-border M&A waves create value overall: acquirer announcement returns, combined acquirer and target announcement returns, and post-merger operating performance within waves are ...
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MERGERS, MERGER WAVES AND THE DISTRIBUTION OF MARKET VALUATIONS: EVIDENCE FROM THE FIFTH AND SIXTH MERGER WAVES

2023
Zafeira Kastrinaki, Stoneman, Paul
openaire   +1 more source

Information Revelation in Merger Waves

The Review of Corporate Finance Studies, 2017
This paper examines the hypothesis that, during merger waves, a bidder’s actions provide information for other bidders and the market. I develop a real options model to explore the interplay between acquisition timing and the market reaction to these events.
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Merger waves: a survey of the literature

SSRN Electronic Journal, 2022
openaire   +1 more source

Is this the First International Merger Wave?

2000
This article presents international evidence on takeover activity, and uses that evidence to argue that the current takeover wave can fairly be called the first-ever international merger wave, as much or more than it can be called the fifth U.S. merger wave. I also discuss the factors that contribute to the strength of the current takeover wave and why
openaire   +1 more source

Regulators and the Wave of Mergers in Banking

2000
There is no evidence that regulators have interfered in banking mergers, other than to push a weak, nearly insolvent bank into the arms of a strong bank to save it from bankruptcy. But in early 1998 regulators did take action to stop the merger of two giant certified public accountancy firms because this would have reduced competition in the ...
openaire   +1 more source

CEO age and entry timing within industry merger waves: Evidence from China

Asia Pacific Journal of Management, 2021
Meiling Tang
exaly  

Value creation around merger waves: The role of managerial compensation

Journal of Business Finance and Accounting, 2020
Athanasios Tsekeris
exaly