The Acquisition of Non Public Firms in Europe: Bidders’ Returns, Payment Methods and Stock Market Evolution

2010 ◽  
Author(s):  
Alain Chevalier ◽  
Etienne Redor
Keyword(s):  
Stock Market ◽  
Market Evolution ◽  
Public Firms ◽  
Payment Methods

The Payment Methods and Announcement Effects of M&A: Evidence from the Chinese Stock Market

2017 ◽  
Vol 13 (1) ◽  
pp. 697-710
Author(s):  
Seok-Chin Kim ◽  
◽  
Jeong-Dae Yim ◽  
Chou Zhou ◽  
◽  
...  
Keyword(s):  
Stock Market ◽  
Chinese Stock Market ◽  
Announcement Effects ◽  
Payment Methods

Computational study of the US stock market evolution: a rank correlation-based network model

2013 ◽  
Vol 10 (2-3) ◽  
pp. 81-103 ◽  
Author(s):  
Oleg Shirokikh ◽  
Grigory Pastukhov ◽  
Vladimir Boginski ◽  
Sergiy Butenko
Keyword(s):  
Stock Market ◽  
Network Model ◽  
Computational Study ◽  
Rank Correlation ◽  
Market Evolution ◽  
The Us

scholarly journals Stock Market Reactions to Financing and Payment Decisions for European Mergers and Acquisitions

2020 ◽  
Vol 4 (2) ◽  
pp. 41-89
Author(s):  
Wolfgang Bessler ◽  
David Kruizenga ◽  
Wim Westerman
Keyword(s):  
Stock Market ◽  
Mergers And Acquisitions ◽  
Abnormal Returns ◽  
Market Reactions ◽  
Valuation Effects ◽  
Payment Methods ◽  
Cumulative Abnormal Returns ◽  
Study Methodology ◽  
Acquisition Announcements ◽  
Stock Market Reactions

Aim: We analyze stock market reactions to merger and acquisition announcements for firms in Europe and contribute to the literature by providing empirical evidence how the decisions with respect to alternative financing sources (equity or debt) and the methods of payment (cash or stock) affect the magnitude of the valuation effects.   Research design: An event study methodology is applied to 717 M&A transactions. We analyze the size of the cumulative abnormal returns using the financing sources and payment methods and other variables as the relevant determinants.   Findings: The cumulative abnormal results suggest that target shareholders and bidder shareholders in private deals benefit from mergers and acquisitions. The effect found is centered around the announcement date, making our findings consistent with market efficiency. Debt financed deals outperform equity financed deals and cash paid M&A outperform stock paid M&As, due to information asymmetry, signaling and agency effects.   Originality: This study adds to our understanding of the relevance of the financing sources and the payment methods for mergers and acquisitions in Europe.   Implications: This study may help practitioners to better assess the valuation effects of alternative financing sources and payment methods when acquiring other firms.     JEL: G32, G34

scholarly journals Firm Size, Firm Age, and Firm Profitability: Evidence from China

2021 ◽  
Vol 28 (1) ◽  
pp. 101
Author(s):  
Md. Jahidur Rahman ◽  
Liu Yilun
Keyword(s):  
Stock Market ◽  
Firm Size ◽  
Fixed Effects ◽  
Negative Relationship ◽  
Future Research ◽  
Fixed Effects Model ◽  
Firm Age ◽  
Public Firms ◽  
Firm Profitability ◽  
Size Firm

This study aims to investigate the relationship among firm size, firm age, and firm profitability in China’s stock market. We use data from all the public firms in China’s stock market from 2008 to 2018 and adopt a fixed effects model to examine these relationships. We find a positive relationship between firm size and profitability and a negative relationship between firm age and profitability, which is consistent with existing studies conducted in other countries. The findings of our study can contribute to future research in China by offering a sound basis and appropriate reference point, given that no previous research has been conducted in China on this exact topic. This study also offers a comprehensive model for use in future studies.

scholarly journals FORECASTING, VALUATION AND PORTFOLIO RETURNS OF STOCK MARKET EVOLUTION: PROBLEMS, PARADOXES AND EFFICIENT INFORMATION. WORLDWIDE IMPLICATIONS AND ROMANIAN EVIDENCE

2019 ◽  
Vol 21 (1) ◽  
pp. 87-114
Author(s):  
Florin Turcaș ◽  
Florin Cornel Dumiter ◽  
Petre Brezeanu ◽  
Marius Boiță
Keyword(s):  
Stock Market ◽  
Time Frame ◽  
Market Evolution ◽  
Reasonable Time ◽  
Empirical Results ◽  
Portfolio Returns ◽  
Eclectic Approach ◽  
Reasonable Time Frame ◽  
Efficient Information ◽  
Portfolio Return

The purpose of this paper is to make a quantitative and qualitative critical analyse regarding the three important aspects of stock market evolution. First, the forecasting problems are presented and analyse in order to establish the main problems and the potential solutions. Second, the valuation problems are tackled in order to observe different trends and directions of solving these issues. Third, the portfolio return forecasts are mandatory in order to establish the results of the titles/market evolutions. The methods used in this research reveal the importance of adopting some important econometric tools in order to test the robustness of different main theories of the stock market and some important practices used among investors. The scope of the research was to give a quid pro quo in order to confer potential solutions regarding problems, paradoxes and efficient information of the stock market. The empirical results reveal that besides the critical side of the theories this paper sets a basis for a new eclectic approach regarding the probabilities that a title achieves certain values within a reasonable time frame. The main conclusion of this article suggests’ that the current theories register some gaps regarding the adherence into stock markets’ realities.

Predicting Stock Market Performance

2020 ◽  
pp. 1-10
Author(s):  
Thomas Plieger ◽  
Thomas Grünhage ◽  
Éilish Duke ◽  
Martin Reuter
Keyword(s):  
Stock Market ◽  
Risk Taking ◽  
Life Stress ◽  
Price Volatility ◽  
Individual Characteristics ◽  
Self Report ◽  
Financial Behavior ◽  
Market Simulation ◽  
Stock Market Performance ◽  
Risk Taking Behavior

Abstract. Gender and personality traits influence risk proneness in the context of financial decisions. However, most studies on this topic have relied on either self-report data or on artificial measures of financial risk-taking behavior. Our study aimed to identify relevant trading behaviors and personal characteristics related to trading success. N = 108 Caucasians took part in a three-week stock market simulation paradigm, in which they traded shares of eight fictional companies that differed in issue price, volatility, and outcome. Participants also completed questionnaires measuring personality, risk-taking behavior, and life stress. Our model showed that being male and scoring high on self-directedness led to more risky financial behavior, which in turn positively predicted success in the stock market simulation. The total model explained 39% of the variance in trading success, indicating a role for other factors in influencing trading behavior. Future studies should try to enrich our model to get a more accurate impression of the associations between individual characteristics and financially successful behavior in context of stock trading.

Online collective emotion and Chinese stock market

2013 ◽  
Author(s):  
Hao Chen ◽  
Kai Sheng Lai
Keyword(s):  
Stock Market ◽  
Chinese Stock Market ◽  
Collective Emotion
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