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Pandya, Falguni H.
- An Empirical Analysis of Corporate Restructuring and Share Price Performance in India
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Affiliations
1 Associate Professor, G H Patel Post Graduate Institute of Business Management, Sardar Patel University, Valabh Vidyanagar Anand (Gujarat)
2 Faculty, Centre for Management Studies, Dharmsinh Desai University, Nadiad (Gujarat)
1 Associate Professor, G H Patel Post Graduate Institute of Business Management, Sardar Patel University, Valabh Vidyanagar Anand (Gujarat)
2 Faculty, Centre for Management Studies, Dharmsinh Desai University, Nadiad (Gujarat)
Source
International Journal of Financial Management, Vol 1, No 3 (2011), Pagination: 33-48Abstract
This paper presents an empirical study of the effect of mergers and acquisitions on the return of shares of acquirer and target fi rm. For this research, we have taken all listed companies of BSE for which merger and acquisition has taken place between 2000 and 2010. Total 80 samples are taken, among this 40 are of mergers involving 20 of acquirer and 20 of target fi rms, and 40 of acquisition involving 20 of acquirer and 20 of target fi rms. A comparative analysis of abnormal gains of target fi rms involved in M&A reveals that the abnormal gains of target fi rms of acquisition was higher than target fi rms of merger. In the context of news leakage of information, it can be suggested that the investment strategies involving buying shares of target fi rms prior to the announcement of a merger and selling them off after the merger announcement could result in profi table opportunities.Keywords
Mergers And Acquisitions, Target Firms, Acquirer Firms, Abnormal GainsReferences
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- www.bseindia.com
- Are Stock Markets Interdependent? An Empirical Study of Selected Market Indices
Abstract Views :295 |
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Authors
Affiliations
1 Centre for Management Studies, Dharmsinh Desai University, Nadia, Gujarat, IN
1 Centre for Management Studies, Dharmsinh Desai University, Nadia, Gujarat, IN
Source
International Journal of Financial Management, Vol 6, No 3 (2016), Pagination: 57-67Abstract
It has been acclaimed by various researchers that international diversification has reduced its charm as return-risk of the world markets are highly correlated due to information spillover effect and globalisation. This study examines inter linkages and interactions, if any, among the selected twelve indices of developed and emerging economies. The study applies descriptive statistics, correlation coefficients and Granger Causality test to check basic characteristics of each indices and their correlation and impact on each other. Granger Causality test for some indices shows that return of one market index had causal influence on return in other market index. The finding of this paper gives good insights to the international investors who are looking to reduce risk for a given level of return.Keywords
Market Indices, Integration, Diversification.References
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