Merger Momentum:The Evidence from Taiwan
碩士 === 國立中央大學 === 財務金融研究所 === 97 === This thesis examines the effects of mergers on bidding firms’ stock price. Merger momentum could lead to market has a merger wave. There are different explanations for merger momentum. We find evidence of merger momentum that bidding firms do a merger to prevent...
| Main Authors: | , |
|---|---|
| Other Authors: | |
| Format: | Others |
| Language: | en_US |
| Online Access: | http://ndltd.ncl.edu.tw/handle/59jyzp |
| Summary: | 碩士 === 國立中央大學 === 財務金融研究所 === 97 === This thesis examines the effects of mergers on bidding firms’ stock price. Merger momentum could lead to market has a merger wave. There are different explanations for merger momentum. We find evidence of merger momentum that bidding firms do a merger to prevent managerial private benefit. If there is a merger wave, then the managers are willing to do a bad decision. As a result, merger announcement abnormal returns could be negative correlation to the bidding firms’ past stock performance. In the long run, there is a similar result for bidding firms.
|
|---|