search query: @author Akhigbe, A. / total: 13
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| Author: | Akhigbe, A. Martin, A.D. |
| Title: | Information-signaling and competitive effects of foreign acquisitions in the US |
| Journal: | Journal of Banking and Finance
2000 : AUG, VOL. 24:8, p. 1307-1321 |
| Index terms: | USA Companies Mergers Competition Stock markets Prices |
| Language: | eng |
| Abstract: | The stock price effects for the domestic competitors of foreign acquisition targets in the US are found to be significantly positive. These results imply that signals of favourable industry conditions conveyed through cross-border acquisitions dominate any perceived changes in competitive balance. Consistent with the information-signaling hypothesis, the stock price effects are more favourable for relatively small competitors, for rivals with stock returns that are highly correlated with the target's stock returns, when the targets experience favourable stock price effects, in technologically-intense industries, for rivals with poor prior performance, and with related acquisitions. |
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