Gregory, Alan and O'Donohoe, Sheila (2014) Do cross border and domestic acquisitions differ? Evidence from the acquisition of UK targets. International Review of Financial Analysis, 31. pp. 61-69. ISSN 1057-5219
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We investigate the determinants of short term wealth effects for both public acquiring and target shareholders following the announcement of UK acquisitions over the period 1990-2005. Regardless of their nationality, overall acquirers incur losses, with domestic acquirers' under-performing cross-border acquirers in general. For the latter no differences in returns between regions are found once the differences in corporate governance regimes are controlled for. Instead it is firm characteristics and in particular firm leverage that largely explain acquirers' returns. All targets gain significantly but the higher returns associated with international deals disappear once bid characteristics are controlled for.
Item Type: | Article |
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Uncontrolled Keywords: | /dk/atira/pure/subjectarea/asjc/2000/2003 |
Departments or Groups: | |
Depositing User: | Admin SSL |
Date Deposited: | 19 Oct 2022 23:09 |
Last Modified: | 15 Jul 2023 02:50 |
URI: | http://repository-testing.wit.ie/id/eprint/4414 |
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