This paper examines the implications of market anticipation impending merger and acquisition (M&A) deals on assessment acquirer wealth effects through event study methods. We find evidence suggesting that prior studies have understated gains to acquirers. The documented negative or near-zero abnormal returns acquirers appears be confined sub-samples highly-anticipated deals. By contrast, unanti...

Financial crises in emerging market economies induce diverging patterns of ownership stakes and subsequent divestiture rates among domestic foreign acquirers. We rationalize these empirical findings a tractable model where acquirers are subject to borrowing constraints. In contrast standard fire-sale effects operating for acquisitions by acquirers, acquisition firms shaped novel counteracting s...

This paper tests hypotheses about the incentives of acquirers and targets in the merger market. The …rst hypothesis of this paper is that some …rms pursue acquisitions that do not maximize pro…ts. The second hypothesis is that targets try to avoid being taken over by acquirers that do not maximize pro…ts. I test these hypotheses using data on acquisitions among mutual fund management companies ...

Title of Thesis: UNCERTAINTY AND SENSITIVITY ANALYSES OF THE MUSKINGUM-CUNGE CHANNEL ROUTING MODEL Stephen Scott Reid, Master of Science, 2008 Thesis directed by: Professor Richard H. McCuen Department of Civil and Environmental Engineering Two widely used channel routing models are the Muskingum and MuskingumCunge (M-C) models. However, no significant research has been conducted on how input p...

The rainfall input is one of the main factors influencing the magnitude of the runoff response during a flood event. Its temporal and spatial distribution significantly contributes to the formation of hydrograph shape, peak discharge and flood volume. a novel approach to the evaluation of the role of the temporal rainfall pattern of hydrograph is presented in this contribution. The methodology ...

After analysing the Wiener process characteristics of reservoir storage capacity in flood regulation, an Ito stochastic differential equation including a random input term is proposed to describe and estimate the stochastic reservoir level hydrograph in a flood routing process. An expression of risk for flood release is given and the probability density functions of the reservoir level hydrogra...