Browsing by Subject "Consolidation and merger of corporations--Econometric models"

DSpace/Manakin Repository

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Merger arbitrage and the interaction between target and bidder stocks during takeover bids

Hutson, Elaine ; Kearney, Colm (Elsevier, 2005)

We use bivariate ARCH specifications to model the conditional mean and stock price volatility for 56 takeover bids from January 1985 and July 1994. Using daily data from one year prior to the takeover announcement until ...
Takeover targets and the probability of bid success : evidence from the Australian market

Hutson, Elaine (Elsevier, 2000)

The excess returns earned by takeover targets raises questions of efficiency in the market for corporate control. Brown and Raymond and Samuelson and Rosenthal explain the target share pricing process as a function of ...
Volatility in stocks subject to takeover bids : Australian evidence using daily data

Hutson, Elaine ; Kearney, Colm (Elsevier, 2001-07)

Using daily price and volume data on 112 of the largest takeover targets in Australia during the period from 1985 to 1993, we find that conditional price volatility declines after the takeover announcement. This decline ...