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  1. Review of Quantitative Finance and Accounting
  2. Review of Quantitative Finance and Accounting : Volume 34
  3. Review of Quantitative Finance and Accounting : Volume 34, Issue 3, April 2010
  4. Hot and cold merger markets
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Review of Quantitative Finance and Accounting : Volume 48
Review of Quantitative Finance and Accounting : Volume 47
Review of Quantitative Finance and Accounting : Volume 46
Review of Quantitative Finance and Accounting : Volume 45
Review of Quantitative Finance and Accounting : Volume 44
Review of Quantitative Finance and Accounting : Volume 43
Review of Quantitative Finance and Accounting : Volume 42
Review of Quantitative Finance and Accounting : Volume 41
Review of Quantitative Finance and Accounting : Volume 40
Review of Quantitative Finance and Accounting : Volume 39
Review of Quantitative Finance and Accounting : Volume 38
Review of Quantitative Finance and Accounting : Volume 37
Review of Quantitative Finance and Accounting : Volume 36
Review of Quantitative Finance and Accounting : Volume 35
Review of Quantitative Finance and Accounting : Volume 34
Review of Quantitative Finance and Accounting : Volume 34, Issue 4, May 2010
Review of Quantitative Finance and Accounting : Volume 34, Issue 3, April 2010
Is information risk priced for NASDAQ-listed stocks?
Activity in futures: does underlying market size relate to futures trading volume?
Hot and cold merger markets
An empirical investigation of Yankee stock offerings
Do option traders on value and growth stocks react differently to new information?
Event study with imperfect competition and private information: earnings announcements revisited
Review of Quantitative Finance and Accounting : Volume 34, Issue 2, February 2010
Review of Quantitative Finance and Accounting : Volume 34, Issue 1, January 2010
Review of Quantitative Finance and Accounting : Volume 33
Review of Quantitative Finance and Accounting : Volume 32
Review of Quantitative Finance and Accounting : Volume 31
Review of Quantitative Finance and Accounting : Volume 30
Review of Quantitative Finance and Accounting : Volume 29
Review of Quantitative Finance and Accounting : Volume 28
Review of Quantitative Finance and Accounting : Volume 27
Review of Quantitative Finance and Accounting : Volume 26
Review of Quantitative Finance and Accounting : Volume 25
Review of Quantitative Finance and Accounting : Volume 24
Review of Quantitative Finance and Accounting : Volume 23
Review of Quantitative Finance and Accounting : Volume 22
Review of Quantitative Finance and Accounting : Volume 21
Review of Quantitative Finance and Accounting : Volume 20
Review of Quantitative Finance and Accounting : Volume 19
Review of Quantitative Finance and Accounting : Volume 18
Review of Quantitative Finance and Accounting : Volume 17
Review of Quantitative Finance and Accounting : Volume 16
Review of Quantitative Finance and Accounting : Volume 15
Review of Quantitative Finance and Accounting : Volume 14
Review of Quantitative Finance and Accounting : Volume 13
Review of Quantitative Finance and Accounting : Volume 12
Review of Quantitative Finance and Accounting : Volume 11
Review of Quantitative Finance and Accounting : Volume 10
Review of Quantitative Finance and Accounting : Volume 9
Review of Quantitative Finance and Accounting : Volume 8

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Hot and cold merger markets

Content Provider Springer Nature Link
Author Chidambaran, N. K. John, Kose Shangguan, Zhaoyun Vasudevan, Gopala
Copyright Year 2009
Abstract We study mergers and acquisition during the period from 1988 to 2005 and examine the impact of merger market intensity, i.e., merger waves, on the means of payment and the returns to target and acquirer shareholders. We use two proxies to measure the intensity of the merger market—the number of mergers in the trailing 12-month period prior to a merger and the total dollar volume of mergers in the trailing 12-month period prior to a merger—and use these measures to define hot and cold merger markets. We find that stock financing is more common after a stock price run-up for the acquiring firm and in hot merger markets. We also find that the acquisition premium is larger in hot merger markets. Returns to acquiring company shareholders are lower for stock financed mergers and are lower when merger markets are intense. Our results are consistent with the predictions of the behavioral theory for merger waves.
Starting Page 327
Ending Page 349
Page Count 23
File Format PDF
ISSN 0924865X
Journal Review of Quantitative Finance and Accounting
Volume Number 34
Issue Number 3
e-ISSN 15737179
Language English
Publisher Springer US
Publisher Date 2009-07-12
Publisher Place Boston
Access Restriction One Nation One Subscription (ONOS)
Subject Keyword Merger quality Acquisition premiums Announcement-period returns Behavioral theory of mergers Operations Research/Decision Theory Econometrics Accounting/Auditing Finance /Banking
Content Type Text
Resource Type Article
Subject Finance Accounting
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