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 ...
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 ...
This paper examines the relationship between the price bid for a takeover target, the probability of the bid succeeding and the target's price over the course of the bid. We test and reject Samuelson and Rosenthal's (1986) ...
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 ...
This paper examines voluntary disclosure of profit forecasts by bidding companies during takeovers. Disclosure is examined from two perspectives: (i) factors influencing disclosure and (ii) the influence of good news and ...
This paper examines factors influencing voluntary forecast disclosure by target companies, whether good/bad news forecasts are disclosed and the influence of forecasts on the outcome of hostile bids. Disclosure was ...
This exploratory study extends the analysis of narrative disclosures from routine reporting contexts such as annual reports and press releases to non-routine takeover documents where the financial consequences of narrative ...
Hutson, Elaine; Mahony, Darragh(University College Dublin. School of Business. Centre for Financial Markets, 2008-04)
This study compares the takeover premiums for 55 private equity buyouts with 59
takeovers involving a public acquirer, from the US takeover market between 2004 and 2007. This investigation takes place amidst accusations ...
Profit forecasts are rarely disclosed in the UK except in prospectuses, circulars and during takeover bids. There are few regulations governing the content of profit forecasts. Under stock exchange rules these forecasts ...