| Author: | Zheng, Jian Peng |
| Title: | Report size and takeovers : a China study |
| Degree: | D.B.A. |
| Year: | 2022 |
| Subject: | Corporation reports -- China Financial statements -- China Consolidation and merger of corporations -- China -- Finance Corporations -- China -- Finance Hong Kong Polytechnic University -- Dissertations |
| Department: | Faculty of Business |
| Pages: | 171 pages : illustrations |
| Language: | English |
| Abstract: | This thesis examines the relationship between company annual report size and various takeover outcomes using the China sample for the 2009-2019 period. The file size proxied by six variables is positively related to the likelihood of a takeover, its success, the use of cash as the payment means, and the bid premium. Although it also tends to be positively related to the bidder's announcement returns, it is negatively related to the target's returns. Lastly, the bidder's annual report size is found to increase the bidder's likelihood to be a target but lower its likelihood to be a bidder again in subsequent takeover activities. All these results are consistent with the adverse effects of hard-to-read annual reports found in the readability literature. |
| Rights: | All rights reserved |
| Access: | restricted access |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| 6345.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 2.6 MB | Adobe PDF | View/Open |
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