Fourth Annual Cass Mergers and Acquisitions Research Centre Conference
- 19 August 2019
- •
- London
The Mergers & Acquisitions Research Centre at Cass Business School hosted the Fourth Annual M&A Research Centre Conference on Monday 19 August 2019 at Cass Business School, London.
Information
Monday 19 August 2019
Room N216 a/b, Aldersgate Building- Registration with coffee and pastries
Conference opening
Speakers:
Session 1: Session Chair: Anh Tran
Morning coffee break
Session 2: Session Chair: Robert Dam
“Buyer Power and Horizontal Mergers: Evidence from Plant-Level Input Prices and Supply Contracts”
Speakers:
Discussant:
“Acquisition Prices and the Measurement of Intangible Capital”
Speakers:
Discussant:
Lunch- Acting Dean and Professor of Finance at Cass Business School, Paolo Volpin, will give a brief welcome and introduction to the keynote speaker at the end of the lunch session.
Keynote speech- “Geopolitics in M&A”
Speakers:
Afternoon coffee break
Session 3: Session Chair: Navin Chopra
“Time Zone Difference and Employee Coordination: Evidence from Mergers and Acquisitions”
Speakers:
Discussant:
“Listing Gaps, Merger Waves, and the Privatization of American Equity Finance”
Speakers:
Discussant:
“Inside the “Black Box” of Private Merger Negotiations”
Speakers:
Discussant:
Closing remarks
Speakers:
Conference close
Dinner: by invitation for presenters, discussants and session chairs
Speakers
Presentations
Conference opening
Conference opening
Speakers
“The Anatomy of Acquirer Returns”
“The Anatomy of Acquirer Returns”
Speakers
Discussants
Post-Acquisition Performance of Private Acquirers
We provide the first evidence on the performance of private operating firms as acquirers. Private bidders experience greater post-acquisition...
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Bidder-Specific Synergies and the Evolution of Acquirer Returns
Largely constant average acquirer returns over the past four decades mask fundamental changes in the takeover market. Controlling for bidder...
Read more“Stakeholder Orientation and Firm Value”
“Stakeholder Orientation and Firm Value”
Speakers
Discussants
“Buyer Power and Horizontal Mergers: Evidence from Plant-Level Input Prices and Supply Contracts”
“Buyer Power and Horizontal Mergers: Evidence from Plant-Level Input Prices and Supply Contracts”
Speakers
Discussants
“Acquisition Prices and the Measurement of Intangible Capital”
“Acquisition Prices and the Measurement of Intangible Capital”
Speakers
Discussants
Corporate Governance Externalities
When firms compete in the managerial labor market, the choice of corporate governance by a firm affects, and is affected by, the choice of governance by...
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Managers, Workers, and Corporate Control
If management has high private benefits and a small equity stake, managers and workers are natural allies against takeover threats. Two forces are at...
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Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent
We present a model where firms compete for scarce managerial talent ("alpha") and managers are risk-averse. When managers cannot move across firms...
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Competition for Managers and Corporate Governance
Separation between CEO and Chairman of the Board is typically viewed as evidence of good corporate governance. Surprisingly, the literature has failed...
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Institutional Debt Holder Governance
Using data on the universe of US-based mutual funds, we find that two out of five fund families hold corporate bonds of firms in which they also own an equity...
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The Corporate Governance of Defined Benefit Pension Plans: Evidence from the United Kingdom
This paper studies the governance of defined-benefit pension plans in the United Kingdom. We construct a governance measure, equal to the proportion of...
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Keynote speech- “Geopolitics in M&A”
Keynote speech- “Geopolitics in M&A”
Speakers
“Time Zone Difference and Employee Coordination: Evidence from Mergers and Acquisitions”
“Time Zone Difference and Employee Coordination: Evidence from Mergers and Acquisitions”
Speakers
Discussants
“Listing Gaps, Merger Waves, and the Privatization of American Equity Finance”
“Listing Gaps, Merger Waves, and the Privatization of American Equity Finance”
Speakers
Discussants
Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts
Private equity funds pay particular attention to capital structure when executing leveraged buyouts, creating an interesting setting for examining...
Read more“Inside the “Black Box” of Private Merger Negotiations”
“Inside the “Black Box” of Private Merger Negotiations”
Speakers
Discussants
Vote Avoidance and Shareholder Voting in Mergers and Acquisitions
We examine whether, how, and why acquirer shareholder voting matters. We show that acquirers with low institutional ownership, high deal risk, and high...
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Thirty Years of Change: The Evolution of Classified Boards
We create a novel classified (staggered) board database covering all U.S. public firms from 1991 to 2020 and document significant differences in...
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