Takeover Vulnerability and Pre-Emptive Earnings Management

Targets’ earnings quality and bidders’ takeover decisions

This study examines how takeover decisions are influenced by the quality of information in target firms’ earnings. We find that bidders are more likely to prefer negotiations in deals involving targets with poor earnings quality. Moreover, in such deals, earnings quality and takeover premiums are negatively related, suggesting that bidders obtain valuable private information through negotiation...

Shareholders’ Pre-Emptive Rights

Pre-emptive analgesia.

Transmission of pain signals evoked by tissue damage leads to sensitization of the peripheral and central pain pathways. Pre-emptive analgesia is a treatment that is initiated before the surgical procedure in order to reduce this sensitization. Owing to this 'protective' effect on the nociceptive system, pre-emptive analgesia has the potential to be more effective than a similar analgesic treat...

Pre - Emptive Extradural Analgesia

5. Mallett SV, RoUes K, Cox D, Burroughs A, Hunt B. Intraopcrative use of aprotinin (Trasylol) in orthotopic liver transplantation. Transplantation Proceedings 1991; 23: 19311932. 6. Thomson JF, Roath OS, Francis JL, Webster JHM, Chant ADB. Aprotinin in peripheral vascular surgery. Lancet 1990; 335:911. 7. Kobrinsky NL, Letts MR, Patcl LR, l-Desamino-8-D arginine vasopressine (Desmopressin) dec...

A Re-examination of Australian Evidence of Directors’ Recommendations on Takeover Bids and Management of Earnings

This study investigates whether Australian targets manage their earnings during takeover bids. A sample of 65 firm-years that were subject to takeover offers during the period 1999-2003 is selected. Each treatment firm-year is matched by industry and size with a control firm-year not subject to a takeover bid. Three Discretionary Accruals models are used: the DeAngelo (1986) model, the Jones (1...