... that acquirer size plays a significant negative role on announcement returns, suggesting that the acquirer size effect also exists in China. However, acquirer size has a significant positive impact on long-term performance, indicating that large acquirers perform better in the integration process. Although...

... to observe the market reaction for acquiring companies on the announcement day. Buy-and-hold abnormal returns are used for the main explanatory variable so as to find the impact of the premium paid on the long-term performance of the acquirer. Findings First, acquiring firms are faced with negative...