کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5107260 1481792 2017 17 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Full length articleAssessing abnormal returns: the case of Chinese M&A acquiring firms
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
پیش نمایش صفحه اول مقاله
Full length articleAssessing abnormal returns: the case of Chinese M&A acquiring firms
چکیده انگلیسی

This paper analyzes the economic benefits that accrue to Chinese acquiring firms. Our sample is based on 279 Chinese acquiring firms from 1990 until 2008 and leads to three main findings: i) Chinese acquirers have positive abnormal returns in contrast to western acquirers which tend to earn negative abnormal returns; ii) Chinese takeovers involving alternative modes of consideration have higher abnormal returns than cash deals, again in contrast to western acquirers where cash deals earn higher returns, and iii) The difference in the abnormal returns between alternative and cash deals for Chinese acquirers is driven by highly valued firms.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Research in International Business and Finance - Volume 42, December 2017, Pages 191-207
نویسندگان
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