The Impact of Cross-border Acquisition of Listed Chinese Companies on Stock Price
(2017) NEKN02 20171Department of Economics
- Abstract
- In this study, we analyze the abnormal returns of Chinese acquirer's shareholders around the day of the acquisition announcement to check the impact of the cross-border acquisition by using event study method and difference-in-difference model. A total sample of 81 cross-border acquisition deals is used, and the results of two methods are consistent, we find that the occurrence of cross-border acquisition can cause a positive effect on the acquirer. However, based on the reality of inefficiency of Chinese financial market, to some degree, information leakage and inside trading might have some effects on acquirers' stock price.
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/8911074
- author
- Zhang, Yinnong LU and Wang, Xulong LU
- supervisor
- organization
- course
- NEKN02 20171
- year
- 2017
- type
- H1 - Master's Degree (One Year)
- subject
- keywords
- cross-border, acquisition, event study, abnormal return.
- language
- English
- id
- 8911074
- date added to LUP
- 2017-06-13 15:17:50
- date last changed
- 2017-06-13 15:17:50
@misc{8911074, abstract = {{In this study, we analyze the abnormal returns of Chinese acquirer's shareholders around the day of the acquisition announcement to check the impact of the cross-border acquisition by using event study method and difference-in-difference model. A total sample of 81 cross-border acquisition deals is used, and the results of two methods are consistent, we find that the occurrence of cross-border acquisition can cause a positive effect on the acquirer. However, based on the reality of inefficiency of Chinese financial market, to some degree, information leakage and inside trading might have some effects on acquirers' stock price.}}, author = {{Zhang, Yinnong and Wang, Xulong}}, language = {{eng}}, note = {{Student Paper}}, title = {{The Impact of Cross-border Acquisition of Listed Chinese Companies on Stock Price}}, year = {{2017}}, }