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The nature and performance of reverse mergers


The nature and performance of reverse mergers

Sun, Chi (2008) The nature and performance of reverse mergers. Masters thesis, Concordia University.

Text (application/pdf)
MR63233.pdf - Accepted Version


I compare a sample of reverse mergers between 1995 and 2006 with comparable mergers of public firms and acquisitions of public targets by private firms. I find that reverse merger and going private transactions target firms with different characteristics. The short horizon stock price performance upon announcement of reverse mergers is correlated with the termination fee and time to effectuate the transaction. Finally, consistent with prior research, reverse mergers result in long-run stock price underperformance. However, the magnitude of this underperformance is small and it is not accompanied by significant operating underperformance.

Divisions:Concordia University > John Molson School of Business
Item Type:Thesis (Masters)
Authors:Sun, Chi
Pagination:viii, 47 leaves : ill. ; 29 cm.
Institution:Concordia University
Degree Name:M. Sc. Admin.
Program:John Molson School of Business
Thesis Supervisor(s):Basu, N
ID Code:976257
Deposited By: Concordia University Library
Deposited On:22 Jan 2013 16:22
Last Modified:18 Jan 2018 17:42
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