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題名 Does CEO general managerial ability matter in M&A voting?
作者 黃嘉威
Huang, Chia-Wei;Chen, Sheng-Syan;Lin, Chih-Yen
貢獻者 財管系
關鍵詞 CEO general managerial ability; M&A voting; Short-run abnormal return; Long-run abnormal return
日期 2023-12
上傳時間 29-Jan-2024 09:12:02 (UTC+8)
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.
關聯 The Quarterly Review of Economics and Finance, Vol.92, pp.14-24
資料類型 article
DOI https://doi.org/10.1016/j.qref.2023.08.005
dc.contributor 財管系
dc.creator (作者) 黃嘉威
dc.creator (作者) Huang, Chia-Wei;Chen, Sheng-Syan;Lin, Chih-Yen
dc.date (日期) 2023-12
dc.date.accessioned 29-Jan-2024 09:12:02 (UTC+8)-
dc.date.available 29-Jan-2024 09:12:02 (UTC+8)-
dc.date.issued (上傳時間) 29-Jan-2024 09:12:02 (UTC+8)-
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/149412-
dc.description.abstract (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.
dc.format.extent 106 bytes-
dc.format.mimetype text/html-
dc.relation (關聯) The Quarterly Review of Economics and Finance, Vol.92, pp.14-24
dc.subject (關鍵詞) CEO general managerial ability; M&A voting; Short-run abnormal return; Long-run abnormal return
dc.title (題名) Does CEO general managerial ability matter in M&A voting?
dc.type (資料類型) article
dc.identifier.doi (DOI) 10.1016/j.qref.2023.08.005
dc.doi.uri (DOI) https://doi.org/10.1016/j.qref.2023.08.005