The impact of M and As on shareholder wealth

Evidence from Taiwanese corporations

Tsung Ming Yeh, Yasuo Hoshino

Research output: Contribution to journalArticle

2 Citations (Scopus)

Abstract

This study, using forty-six M and A events in Taiwan between 1987 and 1998, investigates the effects of M and As on shareholder wealth. The shareholders of the acquiring firms gain modestly positive abnormal returns around the announcement dates. We also distinguish M and As of different purposes, finding that M and As for technology-acquiring purposes are most favored by the market, while vertical M and As are detrimental to shareholder wealth.

Original languageEnglish
Pages (from-to)553-563
Number of pages11
JournalDeveloping Economies
Volume40
Issue number4
Publication statusPublished - Dec 2002
Externally publishedYes

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shareholder
corporation
market
evidence
Taiwan
firm
event
effect
Shareholder wealth
Shareholders
Announcement
Abnormal returns

All Science Journal Classification (ASJC) codes

  • Development
  • Economics and Econometrics

Cite this

The impact of M and As on shareholder wealth : Evidence from Taiwanese corporations. / Yeh, Tsung Ming; Hoshino, Yasuo.

In: Developing Economies, Vol. 40, No. 4, 12.2002, p. 553-563.

Research output: Contribution to journalArticle

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