Mergers and acquisitions are a fast way for a firm to acquire assets. Using plant-level data, we examine how firms redraw their boundaries after acquisitions. We find that there is a surprisingly substantial amount of restructuring in a short period after mergers are consummated. Acquirers sell 27% and close 19% of acquired plants within three years after completing an acquisition. Plants that ...

Companies that use their own stock to finance acquisitions have incentives to increase their market values prior to the acquisition date. This study examines whether such companies strategically disclose good news or withhold bad news in order to boost their high stock prices. I find that stock swap acquirers are not more likely to issue favorable management forecasts during the period before t...

Permasalahan utama dalam analisis debit berbasis hidrograf satuan adalah menetapkan metode yang paling sesuai untuk memperkirakan parameter hidrograf. Paper ini bertujuan merumuskan persamaan menggunakan lebih banyak jumlah DAS terindikasi berkorelasi tinggi didasarkan pada data 8 terukur di Provinsi Sulawesi Tengah, Indonesia. Sebanyak 12 yaitu luas (A, km 2 ), panjang sungai (L, km), kemiring...

This paper examines the outcomes of corporate acquisitions from the perspective of stakeholdershareholder agency conflicts. Using state variation in labor rights laws, we find that acquirers with strong labor rights experience lower announcement returns. The effect can be attributed to such acquirers pursuing deals that are not in the best interest of the acquirer’s shareholders. The negative e...

In our paper targets, by setting a reserve price, screen acquirers on their (expected) ability to generate merger-specific synergies. Both empirical evidence and many common merger models suggest that the difference between highand low-synergy mergers becomes smaller during booms. This implies that the target’s opportunity cost for sorting out relatively less fitting acquirers increases and, he...

We show an inverted-U relation between targetiveness (probability of being targeted) and firm size. However, this pattern describes stock offers and is more pronounced during hot markets characterized by higher stock valuations. For cash offers we find a negative and monotonic relation. These contrasting patterns suggest that small firms (in the bottom NYSE size quartile) are less vulnerable to...

Droughts are natural disasters with a significant impact on the economy and social life. Prolonged droughts can cause even more damage than floods. The novelty of this work lies in definition synthetic drought hydrograph (SDH) which be derived at each gaging station river network. Based hydrographs (DHs) recorded for selected station, SDH is statistically characterized provides valuable informa...

Hydrological modeling is a widely used approach for estimating the hydrological response of basin to precipitation. Floods are among most catastrophic natural disasters in small urban watersheds, inflicting loss life, massive property destruction, and severe danger economy. As result, appropriate can be useful tool preventing mitigating such flood hazards. Despite this, flash prediction remains...