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Merger momentum and market valuations: the UK evidence (2008)
Journal Article
Antoniou, A., Guo, M. (., & Petmezas, D. (2008). Merger momentum and market valuations: the UK evidence. Applied financial economics, 18(17), 1411-1423. https://doi.org/10.1080/09603100701720468

This study examines the effect of merger momentum on acquirer's returns both in the short and long-run. The focus is on high valuation markets and the source of momentum is investigated employing three different hypotheses: the neoclassical hypothesi... Read More about Merger momentum and market valuations: the UK evidence.

How much is too much: Are merger premiums too high? (2007)
Journal Article
Antoniou, A., Arbour, P., & Zhao, H. (2008). How much is too much: Are merger premiums too high?. European Financial Management, 14(2), 268-287. https://doi.org/10.1111/j.1468-036x.2007.00404.x

Is it too much to pay target firm shareholders a 50% premium on top of market price? Or is it too much to pay a 100% premium when pursuing mergers and acquisitions? How much is too much? In this paper, we examine how the extent of merger premiums pai... Read More about How much is too much: Are merger premiums too high?.

Bidder Gains and Losses of Firms Involved in Many Acquisitions (2007)
Journal Article
Antoniou, A., Petmezas, D., & Zhao, H. (2007). Bidder Gains and Losses of Firms Involved in Many Acquisitions. Journal of Business Finance and Accounting, 34(7-8), 1221-1244. https://doi.org/10.1111/j.1468-5957.2007.02012.x

We examine shareholders' wealth effects (both in the short- and the long-run) of UK frequent bidders acquiring public, private, and/or subsidiary targets with alternative methods of payment between 1987 and 2004. We find that, in the short-run, bidde... Read More about Bidder Gains and Losses of Firms Involved in Many Acquisitions.

Profitability of momentum strategies in international markets: The role of business cycle variables and behavioural biases (2007)
Journal Article
Paudyal, K., Antoniou, A., & Lam, H. (2007). Profitability of momentum strategies in international markets: The role of business cycle variables and behavioural biases. Journal of Banking and Finance, 31(3), 955-972. https://doi.org/10.1016/j.jbankfin.2006.08.001

The paper investigates whether business cycle variables and behavioural biases can explain the profitability of momentum trading in three major European markets. Unlike previous studies, the paper nests both risk-based and behavioural-based variables... Read More about Profitability of momentum strategies in international markets: The role of business cycle variables and behavioural biases.

Short-term contrarian strategies in the London Stock Exchange: Are they profitable? Which factors affect them? (2006)
Journal Article
Antoniou, A., Galariotis, E., & Spyrou, S. (2006). Short-term contrarian strategies in the London Stock Exchange: Are they profitable? Which factors affect them?. Journal of Business Finance and Accounting, 33(5-6), 839-867. https://doi.org/10.1111/j.1468-5957.2006.00003.x

This paper provides evidence on short-term contrarian profits and their sources for the London Stock Exchange. Profits are decomposed to sources due to factors derived from the Fama and French (1996) three-factor model. For the empirical testing, siz... Read More about Short-term contrarian strategies in the London Stock Exchange: Are they profitable? Which factors affect them?.

Index futures and positive feedback trading: Evidence from major stock exchanges (2005)
Journal Article
Antoniou, A., Koutmos, G., & Pericli, A. (2005). Index futures and positive feedback trading: Evidence from major stock exchanges. Journal of Empirical Finance, 12(2), 219-238. https://doi.org/10.1016/j.jempfin.2003.11.003

This paper tests the hypothesis that the introduction of index futures has increased positive feedback trading in the spot markets of six industrialized nations. The analysis is based on a model that assumes two different groups of investors, i.e., r... Read More about Index futures and positive feedback trading: Evidence from major stock exchanges.

Contrarian profits and the overreaction hypothesis: The case of the Athens Stock Exchange (2005)
Journal Article
Antoniou, A., Galariotis, E., & Spyrou, S. (2005). Contrarian profits and the overreaction hypothesis: The case of the Athens Stock Exchange. European Financial Management, 11(1), 71-98. https://doi.org/10.1111/j.1354-7798.2005.00276.x

This paper investigates the existence of contrarian profits and their sources for the Athens Stock Exchange (ASE). The empirical analysis decomposes contrarian profits to sources due to common factor reactions, overreaction to firmspecific informatio... Read More about Contrarian profits and the overreaction hypothesis: The case of the Athens Stock Exchange.

The determinants of debt maturity structure: Evidence from France, Germany and UK (2005)
Journal Article
Antoniou, A., Guney, Y., & Paudyal, K. (2005). The determinants of debt maturity structure: Evidence from France, Germany and UK. European Financial Management, 12(2), 161-194. https://doi.org/10.1111/j.1354-7798.2006.00315.x

We examine the determinants of the debt maturity structure of French, German and British firms. These countries represent different financial and legal traditions that may have implications on corporate debt maturity structure. Our model incorporates... Read More about The determinants of debt maturity structure: Evidence from France, Germany and UK.