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| Author | : Ronald A. Stunda |
| Publisher | : |
| Total Pages | : 190 |
| Release | : 1996 |
| Genre | : Business forecasting |
| ISBN | : |
| Author | : Jonathan L. Rogers |
| Publisher | : |
| Total Pages | : 51 |
| Release | : 2005 |
| Genre | : |
| ISBN | : |
We examine how the market's ability to assess the truthfulness of management earnings forecasts affects the extent to which managers bias their forecasts, and we evaluate whether the market's response to management forecasts is consistent with it identifying the predictable bias in forecasts. We find that managers more likely to face litigation release less optimistic forecasts than managers less likely to face litigation, and this incentive is dampened when it is more difficult to detect whether managers have misrepresented their forward-looking information. Further, when it is more difficult to detect forecast bias, we find that managers are more likely to offer forecasts that increase their profits from insider transactions and managers of financially distressed firms are more optimistic than those of healthy firms. With regard to the stock price response to forecasts, we find the market's immediate response varies with the predictable bias in good but not bad news forecasts. The market's subsequent response, however, is consistent with investors eventually identifying the bias in bad news forecasts and modifying their valuation of the firm in the appropriate direction.
| Author | : Jonathan L. Roger |
| Publisher | : |
| Total Pages | : 35 |
| Release | : 2002 |
| Genre | : Business forecasting |
| ISBN | : |
| Author | : Amir Amel-Zadeh |
| Publisher | : |
| Total Pages | : 54 |
| Release | : 2019 |
| Genre | : |
| ISBN | : |
This study finds that pro-forma earnings forecasts by bidding firms during acquisitions are associated with a higher likelihood of deal completion, expedited deal closing, and with a lower acquisition premium - but only in stock-financed acquisitions. Analysts also respond to these forecasts by revising their forecasts for the bidder upward. However, the benefits of forecast disclosure only accrue to bidders with a strong forecasting reputation prior to the acquisition. Explaining why not all bidders forecast, we document a higher likelihood of post-merger litigation and CEO turnover for bidders with a weak forecasting reputation and for those that underperform post-merger.
| Author | : Shankar Venkataraman |
| Publisher | : ProQuest |
| Total Pages | : 113 |
| Release | : 2000 |
| Genre | : |
| ISBN | : 9780549734284 |
| Author | : Donald DePamphilis |
| Publisher | : Academic Press |
| Total Pages | : 772 |
| Release | : 2017-07-12 |
| Genre | : Business & Economics |
| ISBN | : 0128016108 |
Mergers, Acquisitions, and Other Restructuring Activities: An Integrated Approach to Process, Tools, Cases, and Solutions, Ninth Edition, is the most current, comprehensive and cutting-edge text on M&A and corporate restructuring available. It includes many of the most up-to-date and notable deals and precedent setting judicial decisions, as well as new regulations, trends and tactics employed in M&As. The implications of recent developments such as negative interest rates on valuation and the backlash against globalization for cross-border M&As are discussed. More than 90% of the case studies are new for this edition, involving deals either announced or completed during the last several years. It is comprehensive in that nearly all aspects of M&As and corporate restructuring are explored from business plan development to target selection and valuation to negotiation and post-merger integration. It is cutting edge in that conclusions and insights are anchored by the most recent academic research, with references to more than 160 empirical studies published in leading peer-reviewed journals just since the release of the last edition in 2015. Teaches about the financial, legal, accounting and strategic elements of mergers and acquisitions by concentrating on the ways their agents interact Emphasizes current events and trends through new and updated cases Highlights international mergers and acquisitions activities
| Author | : Joshua Ronen |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 587 |
| Release | : 2008-08-06 |
| Genre | : Business & Economics |
| ISBN | : 0387257713 |
This book is a study of earnings management, aimed at scholars and professionals in accounting, finance, economics, and law. The authors address research questions including: Why are earnings so important that firms feel compelled to manipulate them? What set of circumstances will induce earnings management? How will the interaction among management, boards of directors, investors, employees, suppliers, customers and regulators affect earnings management? How to design empirical research addressing earnings management? What are the limitations and strengths of current empirical models?
| Author | : David R. King |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 243 |
| Release | : 2024-05-02 |
| Genre | : Business & Economics |
| ISBN | : 1035319071 |
This Research Agenda poses unique questions and perspectives on how to generate impactful research on mergers and acquisitions. Bringing together a mix of established and emerging scholars, it outlines how future research in the field can enable managers to make better decisions and improve mergers and acquisition success.
| Author | : |
| Publisher | : |
| Total Pages | : 700 |
| Release | : 2008 |
| Genre | : Dissertations, Academic |
| ISBN | : |
| Author | : Kai Lucks |
| Publisher | : John Wiley & Sons |
| Total Pages | : 480 |
| Release | : 2007-06-27 |
| Genre | : Business & Economics |
| ISBN | : 3895786128 |
This book is intended to show ways to successful cooperation. Going beyond M&A, it demonstrates how economical ties and personal behaviour can positively influence our international relations. The value to M&A professionals will be generated through better understanding the views from the other side of the Atlantic, through new M&A insights from other industries and from experts working in consulting and finance. Thus, it is also of high value to all those working on partnerships between the USA or Germany and any other country. The book deals with many different aspects, starting from overall strategies, and ending up with lessons learnt from the special cases. Reflecting behavioural, economic or legal aspects, there are articles showing one side only to work out country or industry specifics and others comparing the nationally different systems and surroundings.
