.... Market models and four-factor models are applied to compute abnormal returns. Linear regression estimates return, which is aggregated and tested for significance, providing insights into the wealth effects of takeover announcements. Findings Analysis reveals positive returns for both firms...

...Ken C. Yook; Partha Gangopadhyay Purpose – The wealth effect of accelerated stock repurchase (ASR) documented by previous studies is not as large as the authors would have expected. The authors believe that there are potentially important sampling problems in the previous studies, which make...