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Viewing report
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Going-Private Transactions of Financial Institutions. Edition No. 1
VDM Publishing House, Nov 2009, Pages: 52
The main goal of this article is to examine going- private transactions in the financial services industry. Our results provide evidence that the public announcement of these transactions produces positive cumulative abnormal returns (CARs) of about 15 percent. The public announcement of the withdrawal of these transactions generates negative CARs between –4 and –5 percent. We also find that the firm’s age has a negative and significant relationship with the CARs for the time window (–1, +1). Similarly, we find that the level of D
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