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Shareholder wealth effect of M&A in Taiwanese listed firms. (English) Zbl 1170.90435
Summary: Mergers and acquisitions (M&A) is repeatedly provides an effective means of competing in an extremely competitive environment. In this paper, we utilize an event study methodology to investigate into differences of stock price reactions following announcements of M&A. The study data are obtained from the Market Observation Post System of the Taiwan Stock Exchange Corporation during 1993 to 2007. In regard to the M&A announcement, the empirical result finds that the stock market is significantly negative effect on abnormal returns.
MSC:
90B90 Case-oriented studies in operations research
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