This doctoral dissertation examines the measurement and identification of share price misvaluation using two prominent models. It also examines the role of equity misvaluation in the context of a number of corporate events. The first essay examines abnormal returns surrounding t…
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Mergers and acquisitions (M&As) are examples of major organizational change. Various studies have explored a combination of factors that contribute to merger success or failure. M&As are still failing today even though these studies provide detailed insights into the whole proce…
This dissertation studied the determinants and consequences of corporate reputation. It explored how firm-, industry-, and country-level factors influence the general public’s assessment of a firm’s reputation and how this reputation assessment impacted the firm’s strategic acti…
This thesis investigates how market conditions -- different beliefs about firm value, the business cycle, and financial regulations -- affect corporate investment decisions in firms, and the impact of these decisions on corporate performance. In Chapter 1, I document evidence th…
Mergers and acquisitions (M&A) activities have been an important means in growing business. One key to successful M&A is foreseeing the next acquisition candidates and evaluating thoroughly those companies prior to the acquisition. The problem is lack of analytical instrumentati…
This dissertation is composed of two parts. The first part is: Investment Horizon And The Market For Corporate Control: The Defensive Role Of Long-Term Investments. The relationship between managers' investment choice and takeover pressure has triggered intense debate since the …
We document the determinants of international differences for IPOs and M&A volumes in 27 countries in this study. The country-specific variables include macroeconomic factors (inflation and changes in Gross Domestic Product) and corporate governance structure (legal environment,…
In the last decade, the number of mergers and acquisitions (M&A) activities by emerging market firms has rapidly increased to exploit growing markets at home and abroad. In order to be successful in their M&A goals, these firms need to develop a specific M&A capability and manag…