Do Managers Keep Their Word? The Disclosure of Merger Intention at Pre-merger Issuance and M&A Performance
(2018)
Journal Article
Guo, M., Hu, N., Li, L., & Wang, X. (2019). Do Managers Keep Their Word? The Disclosure of Merger Intention at Pre-merger Issuance and M&A Performance. Finance Research Letters, 28, 20-31. https://doi.org/10.1016/j.frl.2018.03.007
This paper investigates whether disclosing merger intention at the announcement of equity/debt issuance has an impact on subsequent M&A transactions. We find that companies tend to issue higher proceeds when they reveal their merger intentions, and,... Read More about Do Managers Keep Their Word? The Disclosure of Merger Intention at Pre-merger Issuance and M&A Performance.