Original paper
Pre-merger management in developing markets: The role of earnings glamor
Volume: 65, Pages: 101375 - 101375
Published: Oct 1, 2019
Abstract
For a broad, 16-year sample of mergers by Chinese listed firms, we document that income-increasing earnings management through both discretionary accruals and real activities in the year immediately preceding mergers significantly increases the probability of deal payment all or partially in stock. Concomitantly, in contrast to Western developed markets, we find these share-for-share bidders outperform pure-cash bidders during times close to...
Paper Details
Title
Pre-merger management in developing markets: The role of earnings glamor
Published Date
Oct 1, 2019
Volume
65
Pages
101375 - 101375
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Notes
History