Laporkan Masalah

WHAT ARE THE CORPORATE GOVERNANCE FACTORS WHICH DETERMINE ACQUIRER CUMULATIVE ABNORMAL RETURN, COMPLETION AND CEO'S TURNOVER IN MERGER BETWEEN PUBLIC LISTED FIRMS UNITED STATES?

PANDU ADI CAKRANEGARA, Prof. Basu Swastha Dharmmesta, MBA, Ph.D.

2014 | Tesis | S2 Manajemen

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Anti-takeover provision should enable to protect target firm from being acquired by other firm. In order to see whether anti-takeover provision manages to do their role in the fifth and sixth wave, this research tries to relate this provision with acquirer’s cumulative abnormal return, merger completion and CEO’s turnover. The regression result is that limit ability to amend bylaws and classified board have a significant relationship with cumulative abnormal return. Meanwhile, golden parachute, classified board and limited ability to amend bylaws have significant relationship with merger completion and poison pill has a significant relationship with CEO’s turnover.

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