All Outputs (2)

Investors Activism and the Gains from Takeover Deals (2019)
Journal Article
Guo, M., Paudyal, K., Utham, V., & Xing, X. (2020). Investors Activism and the Gains from Takeover Deals. European Journal of Finance, 26(1), 64-83. https://doi.org/10.1080/1351847x.2019.1680407

We examine whether activists add value to the shareholders of targets and their acquirers. Several findings emerge. First, acquirers of targets that have activists outperform acquirers of other targets in both the short and long term. Second, the pre... Read More about Investors Activism and the Gains from Takeover Deals.

Relative Reference Prices and M&A Misvaluations (2019)
Journal Article
Li, Z., Guo, M., & Andrikopoulos, P. (2019). Relative Reference Prices and M&A Misvaluations. Review of Behavioural Finance, 11(1), https://doi.org/10.1108/rbf-04-2018-0036

Purpose: The purpose of this paper is to examine the misvaluation hypothesis using a relative reference point (RRP) in mergers and acquisitions (M&A) market. Design/methodology/approach: The paper studies 1,878 M&A deals in the US market announced be... Read More about Relative Reference Prices and M&A Misvaluations.