Operating Performance Changes Associated with Corporate Mergers and the Role of Corporate Governance

[1]  D. Hirshleifer.  Mergers and acquisitions : strategic and informational issues , 2008 .

[2]  John A. Doukas,et al.  Investment decisions and internal capital markets: Evidence from acquisitions , 2008 .

[3]  A. Whyte,et al.  Partial acquisitions, the acquisition probability hypothesis, and the abnormal returns to partial targets , 2007 .

[4]  Ronald W. Masulis,et al.  Corporate Governance and Acquirer Returns , 2007 .

[5]  N. Hautsch,et al.  Bayesian Learning in Financial Markets: Testing for the Relevance of Information Precision in Price Discovery , 2007, Journal of Financial and Quantitative Analysis.

[6]  S. Klein,et al.  Does Weak Governance Cause Weak Stock Returns? An Examination of Firm Operating Performance and Investors’ Expectations , 2006 .

[7]  L. Qiu,et al.  Which Institutional Investors Monitor? Evidence from Acquisition Activity , 2006 .

[8]  L. Renneboog,et al.  A Century of Corporate Takeovers: What Have We Learned and Where Do We Stand? (previous title: The History of M&A Activity Around the World: A Survey of Literature) , 2005 .

[9]  R. Powell,et al.  Does Operating Performance Increase Post-takeover for UK Takeovers? A Comparison of Performance Measures and Benchmarks , 2005 .

[10]  John E. Core,et al.  Does Weak Governance Cause Weak Stock Returns? An Examination of Firm Operating Performance and Investors' Expectations , 2004 .

[11]  René M. Stulz,et al.  Firm size and the gains from acquisitions , 2004 .

[12]  Alma Cohen,et al.  The Costs of Entrenched Boards , 2004 .

[13]  René M. Stulz,et al.  Wealth Destruction on a Massive Scale? A Study of Acquiring-Firm Returns in the Recent Merger Wave , 2004 .

[14]  Hassan Tehranian,et al.  The Impact of Institutional Ownership on Corporate Operating Performance , 2003 .

[15]  E. Hotchkiss,et al.  Does Shareholder Composition Matter? Evidence from the Market Reaction to Corporate Earnings Announcements , 2003 .

[16]  Martijn Cremers,et al.  Governance Mechanisms and Equity Prices , 2003 .

[17]  Darius P. Miller,et al.  Does Corporate International Diversification Destroy Value? Evidence from Cross-Border Mergers and Acquisitions , 2003 .

[18]  L. Starks,et al.  Voting with their feet: institutional ownership changes around forced CEO turnover , 2003 .

[19]  Richard S. Ruback,et al.  The Market for Corporate Control: The Scientific Evidence , 2002 .

[20]  William L. Megginson,et al.  The Determinants of Positive Long-Term Performance in Strategic Mergers: Corporate Focus and Cash , 2002 .

[21]  Padma Kadiyala,et al.  Investor Reaction to Corporate Event Announcements: Under-Reaction or Over-Reaction? , 2002 .

[22]  Randall A. Heron,et al.  Operating Performance and the Method of Payment in Takeovers , 2002, Journal of Financial and Quantitative Analysis.

[23]  Sudip Datta,et al.  Executive Compensation and Corporate Acquisition Decisions , 2001 .

[24]  J. Franks,et al.  Who Disciplines Management in Poorly Performing Companies? , 2001 .

[25]  Paul A. Gompers,et al.  CORPORATE GOVERNANCE AND EQUITY PRICES , 2002 .

[26]  Aloke Ghosh,et al.  Does operating performance really improve following corporate acquisitions , 2001 .

[27]  Darius Palia,et al.  The Endogeneity of Managerial Compensation in Firm Valuation: A Solution , 2001 .

[28]  V. Goyal,et al.  Board Leadership Structure and CEO Turnover , 2001 .

[29]  Scott C. Linn,et al.  Are cash acquisitions associated with better postcombination operating performance than stock acquisitions , 2001 .

[30]  H. Demsetz,et al.  Ownership Structure and Corporate Performance , 2001 .

[31]  Erik Stafford,et al.  New Evidence and Perspectives on Mergers , 2001 .

[32]  Prem C. Jain,et al.  Financial leverage changes associated with corporate mergers , 2000 .

[33]  Stuart L. Gillan,et al.  Corporate Governance Proposals and Shareholder Activism: The Role of Institutional Investors , 2000 .

[34]  Benjamin E. Hermalin,et al.  Boards of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature , 2000 .

[35]  R. Duggal,et al.  Institutional ownership and firm performance: The case of bidder returns , 1999 .

[36]  Kevin J. Murphy,et al.  Glamour, value and the post-acquisition performance of acquiring firms 1 We would like to thank Euge , 1998 .

[37]  J. Fred Weston,et al.  Takeovers, restructuring, and corporate governance = 接管、重组与公司治理 , 1998 .

[38]  Alexandra Reed Lajoux,et al.  The Art of M&A Integration: A Guide to Merging Resources, Processes and Responsibilities , 1997 .

[39]  Sanjai Bhagat,et al.  The Uncertain Relationship between Board Composition and Firm Performance , 1997 .

[40]  Lemma W. Senbet,et al.  Corporate Governance and Board Effectiveness , 1997 .

[41]  Kenneth J. Martin,et al.  Executive stock ownership and performance tracking faint traces , 1997 .

[42]  Anand M. Vijh,et al.  Do Long‐Term Shareholders Benefit From Corporate Acquisitions? , 1997 .

[43]  James A. Brickley,et al.  Leadership Structure: Separating the CEO and Chairman of the Board , 1997 .

[44]  R. Hubbard,et al.  Capital-Market Imperfections and Investment , 1997 .

[45]  Jarrad Harford,et al.  Corporate Cash Reserves and Acquisitions , 1997 .

[46]  Brad M. Barber,et al.  Detecting abnormal operating performance: The empirical power and specification of test statistics , 1996 .

[47]  A. Shleifer,et al.  A Survey of Corporate Governance , 1996 .

[48]  Sunil Wahal,et al.  Pension Fund Activism and Firm Performance , 1996, Journal of Financial and Quantitative Analysis.

[49]  D. Yermack.  Higher market valuation of companies with a small board of directors , 1996 .

[50]  Luigi Zingales,et al.  Do Financing Constraints Explain Why Investment is Correlated with Cash Flow? , 1995 .

[51]  R. Hubbard,et al.  Benefits of Control, Managerial Ownership, and the Stock Returns of Acquiring Firms , 1995 .

[52]  J. MacKinnon,et al.  Estimation and inference in econometrics , 1994 .

[53]  M. C. Jensen,et al.  The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems , 1993, A Theory of the Firm.

[54]  Toni M. Whited,et al.  Internal Finance and Firm Investment , 1993 .

[55]  Stephen G. Timme,et al.  Corporate control and bank efficiency , 1993 .

[56]  Ross L. Watts,et al.  The Investment Opportunity Set and Corporate Financing, Dividend, and Compensation Policies , 1992 .

[57]  Jay W. Lorsch,et al.  A Modest Proposal for Improved Corporate Governance , 1992 .

[58]  John W. Byrd,et al.  Do outside directors monitor managers , 1992 .

[59]  René M. Stulz,et al.  A Test of the Free Cash Flow Hypothesis: The Case of Bidder Returns , 1991 .

[60]  H. Servaes.  Tobin's Q and the Gains from Takeovers , 1991 .

[61]  John Mcconnell,et al.  Additional evidence on equity ownership and corporate value , 1990 .

[62]  B. Eckbo,et al.  Asymmetric Information and the Medium of Exchange in Takeovers: Theory and Tests , 1990 .

[63]  Katherine Schipper,et al.  Mergers, Restructuring and Corporate Control , 1990 .

[64]  M. P. Narayanan,et al.  Competition and the Medium of Exchange in Takeovers , 1990 .

[65]  Andrei Shleifer,et al.  Management entrenchment: The case of manager-specific investments , 1989 .

[66]  René M. Stulz,et al.  Managerial Performance, Tobin's Q, and the Gains from Successful Tender Offers , 1989 .

[67]  Andrei Shleifer,et al.  Do Managerial Objectives Drive Bad Acquisitions? , 1989 .

[68]  Michael J. Fishman.  Preemptive Bidding and the Role of the Medium of Exchange in Acquisitions , 1989 .

[69]  Michael Bradley,et al.  Synergistic gains from corporate acquisitions and their division between the stockholders of target and acquiring firms , 1988 .

[70]  Andrei Shleifer,et al.  Value Maximization and the Acquisition Process , 1988 .

[71]  James A. Brickley,et al.  The Market for Corporate Control: The Empirical Evidence Since 1980 , 1988 .

[72]  N. Travlos,et al.  Corporate Takeover Bids, Methods of Payment, and Bidding Firms' Stock Returns , 1987 .

[73]  Steven M. Fazzari,et al.  Financing Constraints and Corporate Investment , 1987 .

[74]  A. Shleifer,et al.  Large Shareholders and Corporate Control , 1986, Journal of Political Economy.

[75]  John J. Mcconnell,et al.  Corporate mergers and security returns , 1986 .

[76]  M. C. Jensen,et al.  Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers , 1999 .

[77]  H. Demsetz,et al.  The Structure of Corporate Ownership: Causes and Consequences , 1985, Journal of Political Economy.

[78]  Wilbur G. Lewellen,et al.  Merger decisions and executive stock ownership in acquiring firms , 1985 .

[79]  E. Fama,et al.  Separation of Ownership and Control , 1983, The Journal of Law and Economics.

[80]  Robert F. Bruner,et al.  The gains to bidding firms from merger , 1983 .

[81]  H. White.  A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity , 1980 .

[82]  John J. Mcconnell,et al.  Corporate Mergers and the Co-insurance of Corporate Debt , 1977 .

[83]  M. C. Jensen,et al.  Harvard Business School; SSRN; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI); Harvard University - Accounting & Control Unit , 1976 .

[84]  W. J. Conover,et al.  Practical Nonparametric Statistics , 1972 .

[85]  H. Manne,et al.  Mergers and the Market for Corporate Control , 1965, Journal of Political Economy.

[86]  Alexandra Niessen,et al.  Sex matters: Gender differences in a professional setting , 2007 .

[87]  Myeong-Hyeon Cho,et al.  Ownership structure, investment, and the corporate value: an empirical analysis , 1998 .

[88]  Yermack Higher,et al.  of Companies with a Small Board of Directors, Journal of Financial Economics 2, . , 1996 .

[89]  E. Ofek,et al.  Diversification's effect on firm value , 1995 .

[90]  G. Jarrell,et al.  Corporate focus and stock returns , 1995 .

[91]  Joo-Hyun Kim,et al.  The Combined Effects of Free Cash Flow and Financial Slack on Bidder and Target Stock Returns , 1994 .

[92]  A. Shleifer,et al.  Hostile Takeovers in the 1980s: The Return to Corporate Specialization , 1990 .

[93]  George L. Nemhauser,et al.  Handbooks in operations research and management science , 1989 .

[94]  Clifford G. Holderness,et al.  The role of majority shareholders in publicly held corporations: An exploratory analysis , 1988 .

[95]  René M. Stulz,et al.  Managerial control of voting rights: Financing policies and the market for corporate control , 1988 .

[96]  A. Shleifer,et al.  Management Ownership and Market Valuation: An Empirical Analysis , 1988 .

[97]  R. Roll,et al.  The Hubris Hypothesis of Corporate Takeovers , 1986 .

[98]  O. Williamson.  The Economic Institutions of Capitalism: Firms, Markets, Relational Contracting , 1985 .

[99]  R. Zeckhauser,et al.  Insurance, Information, and Individual Action , 1971 .

[100]  H. Theil.  Economics and information theory , 1967 .