Outputs (2)

Do Stock-Financed Acquisitions Destroy Value? New Methods and Evidence (2015)
Journal Article
Golubov, A., Petmezas, D., & Travlos, N. G. (2016). Do Stock-Financed Acquisitions Destroy Value? New Methods and Evidence. Review of Finance, 20(1), 161-200. https://doi.org/10.1093/rof/rfv009

We contribute to the debate on whether stock-financed acquisitions destroy value for shareholders. A stock-financed acquisition is a joint takeover/equity-issue event. Using seasoned equity offering announcement returns, we estimate through linear pr... Read More about Do Stock-Financed Acquisitions Destroy Value? New Methods and Evidence.

Do risk-taking incentives induce CEOs to invest? Evidence from acquisitions (2015)
Journal Article
Croci, E., & Petmezas, D. (2015). Do risk-taking incentives induce CEOs to invest? Evidence from acquisitions. Journal of Corporate Finance, 32, 1-23. https://doi.org/10.1016/j.jcorpfin.2015.03.001

This paper examines the effect of risk-taking incentives on acquisition investments. We find that CEOs with risk-taking incentives are more likely to invest in acquisitions. Economically, an inter-quartile range increase in vega translates into an ap... Read More about Do risk-taking incentives induce CEOs to invest? Evidence from acquisitions.