指令
会计
佣金
业务
欧盟委员会
控制(管理)
网站
互联网
并购
财务
经济
欧洲联盟
管理
计算机科学
程序设计语言
万维网
经济政策
作者
Marcelo Ortiz,Caspar David Peter,Francisco Urzúa I.,Paolo F. Volpin
摘要
Abstract Taking advantage of the implementation of the 2003 European Commission (EC) directive on financial reporting, we explore the impact of mandatory financial disclosure on mergers and acquisitions (M&A). We find robust evidence that the number (and volume) of private firms becoming an M&A target increases with mandatory disclosure. Analyses of cross-industry differences, deal-level data, and post-deal performance indicate that financial disclosure increases M&A activity by reducing information frictions in the market for corporate control. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online
科研通智能强力驱动
Strongly Powered by AbleSci AI