Mergers and Acquisitions (M&A) is a strategy commonly used by companies to achieve growth, expand market share, gain access new technologies, competitive advantage. However, the M&A process does not always go according plan can present complex challenges. Many have failed in conducting mergers acquisitions, which has an impact on organizational performance shareholder value. Therefore, ...

We examine the impact of excess cash on non-U.S. firms’ mergers and acquisitions behavior to test the effectiveness of U.S. investor protections in improving the corporate governance of cross-listed firms. We find that firms with higher excess cash make more acquisitions and experience lower announcement abnormal returns. While acquisition likelihood is similar, crosslisted firms make better M&...

We investigate loan price in mergers and acquisitions (M&As), using hand-matched information for a sample of 512 U.S. M&A transactions. find the relative size deal constitutes prominent determinant measured by all-in spread drawn (AISD). This result is robust to several specifications that address endogeneity concerns. Cross-sectional analyses show aggravated credit risk uncertainty after go so...