Type

Journal Article

Authors

Niamh Brennan

Subjects

Business

Topics
voluntary disclosure consolidation and merger of corporations takeover defences target companies forecasts profit forecasting profit forecasts disclosure of information

Voluntary disclosure of profit forecasts by target companies in takeover bids (1999)

Abstract This paper examines factors influencing voluntary forecast disclosure by target companies, whether good/bad news forecasts are disclosed and the influence of forecasts on the outcome of hostile bids. Disclosure was significantly more likely during contested bids. In agreed bids, probability of forecast disclosure was greater the shorter the bid horizon. In contested bids, forecasts were more likely where there were large block shareholdings, for larger targets and for targets in the capital goods industry. There was a clear tendency to disclose good news forecasts. A significant positive association between forecast disclosure and increase in offer price was found.
Collections Ireland -> University College Dublin -> Business Research Collection
Ireland -> University College Dublin -> School of Business
Ireland -> University College Dublin -> College of Business

Full list of authors on original publication

Niamh Brennan

Experts in our system

1
Niamh Brennan
University College Dublin
Total Publications: 106