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dc.contributor.authorYii, William Yong Ongen_NZ
dc.identifier.citationYii, W. Y. O. (1999, February 26). Wealth effect of firms engaging in acquisitions programmes (Thesis). Retrieved from
dc.description.abstractThis paper examines the short-term and long-term performance of acquiring firms engaging in acquisitions programmes. In particular, the short-term performance around the announcement is studied in terms of the growth opportunities of acquiring firms (as proxied by Tobin's q ratio). The long-term performance after the announcement is studied with respect to growth opportunities, active/inactive acquirers and leverage level. Overall results show that the acquirers earn significant abnormal returns both in the short run and long run. However, long-term analyses reveal that the over-performance is not uniform across the full sample. High-q and high-levered firms earn significant abnormal returns while low-q and low-levered firms do not.en_NZ
dc.subjectacquiring firmsen_NZ
dc.subjectshort-term performanceen_NZ
dc.subjectgrowth opportunitiesen_NZ
dc.subjectabnormal returnsen_NZ
dc.subject.lcshHF Commerceen_NZ
dc.subject.lcshHF5601 Accountingen_NZ
dc.subject.lcshHG Financeen_NZ
dc.titleWealth effect of firms engaging in acquisitions programmesen_NZ
otago.schoolFinanceen_NZ of Otagoen_NZ Thesesen_NZ
otago.openaccessAbstract Only
dc.identifier.eprints658en_NZ & Quantitative Analysisen_NZ
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