DC Field | Value | Language |
---|---|---|
dc.contributor.author | Han, Seung Hun | ko |
dc.contributor.author | Kwon, Yonghyun | ko |
dc.date.accessioned | 2015-07-22T05:20:28Z | - |
dc.date.available | 2015-07-22T05:20:28Z | - |
dc.date.created | 2014-12-15 | - |
dc.date.created | 2014-12-15 | - |
dc.date.issued | 2015-06 | - |
dc.identifier.citation | ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, v.44, no.3, pp.387 - 420 | - |
dc.identifier.issn | 2041-9945 | - |
dc.identifier.uri | http://hdl.handle.net/10203/200088 | - |
dc.description.abstract | We examine the impact of ownership structure on the post-performance of Korean firms that go public as the result of a reverse merger. Although a reverse-merger announcement has positive cumulative abnormal returns (CARs), we find that 24.8% of reverse-merged firms become delisted because of poor post-performance, seemingly due to the agency problem. We also find that expected changes in management after a reverse merger positively affect the CARs of public target firms around the time of the reverse-merger announcement. However, the post-performance of reverse-merged firms is relatively poor compared to firms that undertake regular initial public offerings. Further, we find that ownership concentration alleviates poor performance following a reverse merger. | - |
dc.language | English | - |
dc.publisher | WILEY-BLACKWELL | - |
dc.subject | CORPORATE GOVERNANCE | - |
dc.subject | EMERGING MARKETS | - |
dc.subject | FINANCIAL CRISIS | - |
dc.subject | PERFORMANCE | - |
dc.subject | COMPANIES | - |
dc.title | Ownership Structure and the Survival of Listed Firms: Evidence from Korean Reverse Mergers | - |
dc.type | Article | - |
dc.identifier.wosid | 000356364600002 | - |
dc.identifier.scopusid | 2-s2.0-84946835465 | - |
dc.type.rims | ART | - |
dc.citation.volume | 44 | - |
dc.citation.issue | 3 | - |
dc.citation.beginningpage | 387 | - |
dc.citation.endingpage | 420 | - |
dc.citation.publicationname | ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES | - |
dc.identifier.doi | 10.1111/ajfs.12094 | - |
dc.contributor.localauthor | Han, Seung Hun | - |
dc.type.journalArticle | Article | - |
dc.subject.keywordAuthor | Reverse merger | - |
dc.subject.keywordAuthor | Delisting | - |
dc.subject.keywordAuthor | Ownership structure | - |
dc.subject.keywordAuthor | Agency problem | - |
dc.subject.keywordPlus | CORPORATE GOVERNANCE | - |
dc.subject.keywordPlus | EMERGING MARKETS | - |
dc.subject.keywordPlus | FINANCIAL CRISIS | - |
dc.subject.keywordPlus | PERFORMANCE | - |
dc.subject.keywordPlus | COMPANIES | - |
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