Market reactions for targets of M&A rumours—evidence from China
This paper investigates investors’ reactions to takeover rumours in China’s stock markets from 2004 to 2014. While we find pre-rumour price run-ups (abnormal returns) for merger and acquisition (M&A) targets, the pre-rumour market overreaction is significantly positive only for target firms that...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2021-01-01
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| Series: | Ekonomska Istraživanja |
| Subjects: | |
| Online Access: | http://dx.doi.org/10.1080/1331677X.2020.1865826 |