Shareholders' wealth of acquisition in China

被引：0

作者：

Han, Liyan ^{[1
]}

Wang, Xiaomeng ^{[1
]}

机构：

[1] Beihang Univ, Sch Econ & Management, Beijing 100083, Peoples R China

来源：

ICIM 2006: Proceedings of the Eighth International Conference on Industrial Management | 2006年

关键词：

wealth effect; acquisition; event study;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper examines wealth effect of acquiring firm in China during 2001 similar to 2003. Different from previous research, our analysis indicates that acquirers experience more than 0.5% abnormal returns over days (-6, -1), while they suffer nearly 0.7% losses over days (0, + 8). Furthermore, accumulative abnormal returns (-6, -1) are positively related with relative size, structure of equity ownership and supervising environment. However, return on equity of acquirer has a negative influence on accumulative abnormal returns (0, +8).

引用

页码：434 / 439

页数：6

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