https://scholars.lib.ntu.edu.tw/handle/123456789/636124
標題: | Does CEO general managerial ability matter in M&A voting? | 作者: | SHENG-SYAN CHEN Huang, Chia Wei Lin, Chih Yen |
關鍵字: | CEO general managerial ability | Long-run abnormal return | M&A voting | Short-run abnormal return | 公開日期: | 十二月-2023 | 出版社: | Elsevier B.V. | 卷: | 92 | 起(迄)頁: | 14-24 | 來源出版物: | Quarterly Review of Economics and Finance | 摘要: | In this study, we examine the influence of CEO general managerial ability on M&A voting events. The results indicate that CEO general managerial ability relates positively to M&A voting outcomes. Furthermore, firms run by CEOs with high levels of general managerial skill tend to enjoy better short-term and long-term stock performances. In addition, we find active funds to be more (less) likely to vote in line with the recommendations of the management of invested firms when market reactions around announcement dates are positive (negative). The main results are the same after using the state-level non-compete agreement to address possible omitted variable bias. |
URI: | https://scholars.lib.ntu.edu.tw/handle/123456789/636124 | ISSN: | 10629769 | DOI: | 10.1016/j.qref.2023.08.005 |
顯示於: | 財務金融學系 |
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