File Download
There are no files associated with this item.
Links for fulltext
(May Require Subscription)
- Publisher Website: 10.1016/j.intfin.2015.05.009
- Scopus: eid_2-s2.0-84959551517
- WOS: WOS:000367512200012
- Find via
Supplementary
- Citations:
- Appears in Collections:
Article: Active block investors and corporate governance around the world
Title | Active block investors and corporate governance around the world |
---|---|
Authors | |
Keywords | International corporate governance Block acquisitions |
Issue Date | 2015 |
Citation | Journal of International Financial Markets, Institutions and Money, 2015, v. 39, p. 181-194 How to Cite? |
Abstract | In this paper, we examine a sample of 3119 minority block acquisitions around the world. One in seven firms are targeted by active investors who either have their own representatives on the board or in the extreme case, replace existing CEOs. We find that active investors are more prevalent in countries with good investor protection. Further, firms targeted by active investors experience significantly higher announcement returns and a significantly higher increase in profitability, sales, and investment expenditures subsequent to the block acquisition, especially in countries with good investor protection. |
Persistent Identifier | http://hdl.handle.net/10722/303480 |
ISSN | 2023 Impact Factor: 5.4 2023 SCImago Journal Rankings: 1.216 |
ISI Accession Number ID |
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Kim, Hugh | - |
dc.contributor.author | Liao, Rose C. | - |
dc.contributor.author | Wang, Yan | - |
dc.date.accessioned | 2021-09-15T08:25:24Z | - |
dc.date.available | 2021-09-15T08:25:24Z | - |
dc.date.issued | 2015 | - |
dc.identifier.citation | Journal of International Financial Markets, Institutions and Money, 2015, v. 39, p. 181-194 | - |
dc.identifier.issn | 1042-4431 | - |
dc.identifier.uri | http://hdl.handle.net/10722/303480 | - |
dc.description.abstract | In this paper, we examine a sample of 3119 minority block acquisitions around the world. One in seven firms are targeted by active investors who either have their own representatives on the board or in the extreme case, replace existing CEOs. We find that active investors are more prevalent in countries with good investor protection. Further, firms targeted by active investors experience significantly higher announcement returns and a significantly higher increase in profitability, sales, and investment expenditures subsequent to the block acquisition, especially in countries with good investor protection. | - |
dc.language | eng | - |
dc.relation.ispartof | Journal of International Financial Markets, Institutions and Money | - |
dc.subject | International corporate governance | - |
dc.subject | Block acquisitions | - |
dc.title | Active block investors and corporate governance around the world | - |
dc.type | Article | - |
dc.description.nature | link_to_subscribed_fulltext | - |
dc.identifier.doi | 10.1016/j.intfin.2015.05.009 | - |
dc.identifier.scopus | eid_2-s2.0-84959551517 | - |
dc.identifier.volume | 39 | - |
dc.identifier.spage | 181 | - |
dc.identifier.epage | 194 | - |
dc.identifier.isi | WOS:000367512200012 | - |