With a comprehensive U.S. domestic sample, we study shareholder announcement returns for firms that acquired 5 or more public, private, and/or subsidiary targets, and switched or shifted from in-state to out-of-state acquisition, and vice versa, from a deal conducted in different state to one completed in their own state. Generally, switching has a negative effect on bidder announcement returns (-3.424): switch-deals have significantly lower CARs than non-switch deals: 1.251% against 2.876. Shifting states has a more pronounced negative impact in later deals, and when the switch is from same to different state.
| Published in | International Journal of Finance and Banking Research (Volume 2, Issue 3) |
| DOI | 10.11648/j.ijfbr.20160203.11 |
| Page(s) | 49-62 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2016. Published by Science Publishing Group |
Multiple acquisitions, Merger announcement returns, In-state and out-of-state takeovers
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APA Style
Vanya Stefanova Petrova. (2016). To Switch or Not to Switch: Evidence from Multiple U. S. Acquirers. International Journal of Finance and Banking Research, 2(3), 49-62. https://doi.org/10.11648/j.ijfbr.20160203.11
ACS Style
Vanya Stefanova Petrova. To Switch or Not to Switch: Evidence from Multiple U. S. Acquirers. Int. J. Finance Bank. Res. 2016, 2(3), 49-62. doi: 10.11648/j.ijfbr.20160203.11
AMA Style
Vanya Stefanova Petrova. To Switch or Not to Switch: Evidence from Multiple U. S. Acquirers. Int J Finance Bank Res. 2016;2(3):49-62. doi: 10.11648/j.ijfbr.20160203.11
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Download@article{10.11648/j.ijfbr.20160203.11,
author = {Vanya Stefanova Petrova},
title = {To Switch or Not to Switch: Evidence from Multiple U. S. Acquirers},
journal = {International Journal of Finance and Banking Research},
volume = {2},
number = {3},
pages = {49-62},
doi = {10.11648/j.ijfbr.20160203.11},
url = {https://doi.org/10.11648/j.ijfbr.20160203.11},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20160203.11},
abstract = {With a comprehensive U.S. domestic sample, we study shareholder announcement returns for firms that acquired 5 or more public, private, and/or subsidiary targets, and switched or shifted from in-state to out-of-state acquisition, and vice versa, from a deal conducted in different state to one completed in their own state. Generally, switching has a negative effect on bidder announcement returns (-3.424): switch-deals have significantly lower CARs than non-switch deals: 1.251% against 2.876. Shifting states has a more pronounced negative impact in later deals, and when the switch is from same to different state.},
year = {2016}
}
TY - JOUR T1 - To Switch or Not to Switch: Evidence from Multiple U. S. Acquirers AU - Vanya Stefanova Petrova Y1 - 2016/05/10 PY - 2016 N1 - https://doi.org/10.11648/j.ijfbr.20160203.11 DO - 10.11648/j.ijfbr.20160203.11 T2 - International Journal of Finance and Banking Research JF - International Journal of Finance and Banking Research JO - International Journal of Finance and Banking Research SP - 49 EP - 62 PB - Science Publishing Group SN - 2472-2278 UR - https://doi.org/10.11648/j.ijfbr.20160203.11 AB - With a comprehensive U.S. domestic sample, we study shareholder announcement returns for firms that acquired 5 or more public, private, and/or subsidiary targets, and switched or shifted from in-state to out-of-state acquisition, and vice versa, from a deal conducted in different state to one completed in their own state. Generally, switching has a negative effect on bidder announcement returns (-3.424): switch-deals have significantly lower CARs than non-switch deals: 1.251% against 2.876. Shifting states has a more pronounced negative impact in later deals, and when the switch is from same to different state. VL - 2 IS - 3 ER -
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