Autor(es):
Ribeiro, Humberto 
Data: 2008
Identificador Persistente: http://hdl.handle.net/10198/8315
Origem: Biblioteca Digital do IPB
Assunto(s): Time series; M&A determinants
Detalhes do Documento
The accounting choice issue and the M&A activity
Descrição
EFM classification: 710, 160, 200 This study addresses the issue of the accounting choice as a possible determinant of mergers & acquisitions (M&A) activity. The accounting choice has value implications, and managerial discretion can be used to meet financial reporting objectives (see e.g. Watts & Zimmerman, 1990). On the other hand, despite the existence of a wide empirical and theoretical research, the literature still lacks a convincing overall theory concerning M&A occurrence. Nevertheless, the overall evidence suggests that some macroeconomic variables are associated with the timing of M&A. This paper studies whether accounting choice developments can affect M&A activity together with macroeconomic, time, and several M&A endogenous variables. The findings show a significant positive relationship between M&A activity and stock market prices, and also several significant associations between M&A and other endogenous and exogenous explanatory variables, but no relationship between accounting choice and M&A activity.
EFM classification: 710, 160, 200 This study addresses the issue of the accounting choice as a possible determinant of mergers & acquisitions (M&A) activity. The accounting choice has value implications, and managerial discretion can be used to meet financial reporting objectives (see e.g. Watts & Zimmerman, 1990). On the other hand, despite the existence of a wide empirical and theoretical research, the literature still lacks a convincing overall theory concerning M&A occurrence. Nevertheless, the overall evidence suggests that some macroeconomic variables are associated with the timing of M&A. This paper studies whether accounting choice developments can affect M&A activity together with macroeconomic, time, and several M&A endogenous variables. The findings show a significant positive relationship between M&A activity and stock market prices, and also several significant associations between M&A and other endogenous and exogenous explanatory variables, but no relationship between accounting choice and M&A activity.
Tipo de Documento
Documento de conferência
Idioma Inglês
Idioma Inglês
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