Working Paper

22 December 2018

Asking the Right Question: The Statutory Right of Appraisal and Efficient Markets

In this Article, we make several contributions to the literature on appraisal rights and similar cases in which courts assign values to a company’s shares in the litigation context. First, we applaud the recent trend in Delaware cases...

Jonathan Macey | Joshua Mitts
01 January 2014

Disentangling the Link Between Stock and Accounting Performance in Acquisitions

We study the accounting and stock performance of 4,547 US acquisitions during 1989 and 2008. We categorise acquisitions into four types based on the four possible combinations of positive or negative abnormal stock performance and...

André Betzer | Markus Doumet | Marc Goergen
01 February 2008

Spillover of Corporate Governance Standards in Cross-Border Mergers and Acquisitions

In cross-border acquisitions, the differences between the bidder and target corporate governance have an important impact on the takeover returns. We measure the difference in the bidder and target corporate governance (in terms of...

Marina Martynova | Luc Renneboog