Document Type
Article
Publication Date
1-1-2013
Abstract
This study reports how country risk and macroeconomic conditions influence the wealth gains of U.S. financial firms involved in international mergers and takeovers. The findings suggest that U.S. financials experience weakly significant wealth gains around announcement date. The wealth gains are significant for takeovers in Latin America. There are also differences in wealth gains of subsector affiliations of financial firms. While banks experiencing wealth loss, both insurance and investment services firms having significant wealth gains. The country risk, including economic, political, and financial risk ratings, help to explain the wealth gains to financial bidders.
Published In
Kiymaz, Halil, "Cross-Border Mergers and Acquisitions and Country Risk Ratings: Evidence from U.S. Financials" (2013). Faculty Publications. 87.
https://scholarship.rollins.edu/as_facpub/87
Publication Title
The International Journal of Business and Finance Research
ISSN
1931-0269
Comments
Published in The International Journal of Business and Finance Research 7, no. 1 (2013): 17-29.