Financial Return Risk and the Effect on Shareholder Wealth How M & A Announcements and Banking Crisis Events Affect Stock Mean Returns and Stock Return Risk a Compendium of Five Empirical Studies Across Selective Industries.
| Основен автор: | Raudszus, Malte Helmut. |
|---|---|
| Формат: | Електронен |
| Език: | English |
| Публикувано: |
Frankfurt :
Lang, Peter, Internationaler Verlag der Wissenschaften,
2012.
|
| Серия: |
Corporate finance and governance ;
Bd. 9. |
| Предмети: | |
| Онлайн достъп: |
http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=542505 |
| Подобни документи: |
Print version::
Financial Return Risk and the Effect on Shareholder Wealth : How M & A Announcements and Banking Crisis Events Affect Stock Mean Returns and Stock Return Risk a Compendium of Five Empirical Studies Across Selective Industries. |
Съдържание:
- Preface; Acknowledgements; Content Overview; Table of Contents; List of Tables; List of Figures; List of Abbreviations; List of Symbols; 1. Introduction; 2. Does Vertical Diversification Create Superior Value? Evidence from the Construction Industry; 2.1. Introduction; 2.2. Literature Review; 2.2.1. M & A Motives across Transaction Directions; 2.2.2. Consolidation of the Construction Industry; 2.2.3. Hypotheses for Risk and Return Behavior; 2.3. Data and Methodology; 2.3.1. Data Selection; 2.3.2. Methodology; 2.4. Results; 2.4.1. Structure of the Results' Section.
- 2.4.2. Short-term Risk and Return Behavior2.4.3. Long-term Risk Behavior; 2.4.4. Multivariate Regressions on Risk Behavior; 2.5. Conclusion; 3. How Consolidation Changes the Risk Profile of a Whole Sector: Evidence from the Brewing Industry; 3.1. Introduction; 3.2. Literature Review; 3.2.1. Evidence on Risk Changes and Wealth Effects around M & A; 3.2.2. Contribution to the Literature and Hypotheses; 3.3. Data and Methodology; 3.3.1. Data Selection; 3.3.2. Methodology of the Systematic Risk Analysis; 3.4. Results of Risk Analysis around M & A; 3.4.1. Acquirer Short-term Systematic Risk Changes.
- 3.4.2. Rival Short-term Systematic Risk Changes3.4.3. Summary of Acquirer and Rival Risk Changes; 3.4.4. Determinants of Abnormal Risk Changes; 3.5. Conclusion; 4. Bank Failures and Real Estate Investment Trust (REIT) Returns; 4.1. Introduction; 4.2. Literature Review; 4.2.1. Market Liquidity, Bank Failures, and REIT Behavior; 4.2.2. Contribution to the Literature and Hypotheses; 4.3. Data and Methodology; 4.3.1. Data Selection and Descriptive Statistics; 4.3.2. Methodology of the Return and Risk Event Study; 4.4. Results; 4.4.1. Bank Failures' Effect on the All-REIT Index.
- 4.4.2. Bank Failures' Effect on Focused REIT Indices4.4.3. Robustness Analysis regarding Potential Biases; 4.4.4. Multivariate Regressions of Focused REIT Indices on the All-REIT Index; 4.5. Conclusion; 5. Bank Bailouts: REITs and their Performance as Financial Stock; 5.1. Introduction; 5.2. Literature Review; 5.2.1. Market Liquidity, Bank Bailouts, and REIT Behavior; 5.2.2. Contribution to the Literature and Hypotheses; 5.3. Data and Methodology; 5.3.1. Data Selection and Structure of the Analysis; 5.3.2. Methodology of the Return and Risk Event Study; 5.4. Results.
- 5.4.1. Bank Bailouts' Effect on REITs and Other Financial Stocks5.4.2. Bank Bailouts' Effect on Focused REITs; 5.4.3. Bank Bailouts' Effect on Other Financial Stock Subsamples; 5.4.4. Robustness Analysis on Differences between Single Bailout Dates; 5.5. Conclusion; 6. Banking Crisis and Government Intervention: How Bailouts versus Failures Affect Financial Stocks; 6.1. Introduction; 6.2. Literature Review; 6.2.1. Financial Crisis and Government Intervention; 6.2.2. Contribution to the Literatureand Basic Hypotheses; 6.3. Data and Methodology; 6.3.1. Data Selection and Descriptive Statistics.