Mergers increase default risk

By Craig Furfine, Richard J. Rosen. 2011

145 citations recorded by the source corpus.

Subfields: Accounting, Finance

View Paper: https://www.semanticscholar.org/paper/f0cbfc25ade2f71cb8c2274fa1c53bef33e3d71e

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Francesco Vallascas
2. Jens Hagendorff
3. M. Malik

In Finance

1. Francesco Vallascas
2. Jens Hagendorff

Citations in the corpus

• Inside Debt and Mergers and Acquisitions (2014, unknown): “Furfine and Rosen (2011) document that, on average, M&As increase the default risk of the acquiring firms, therefore they represent discretionary risk-taking by the CEOs.”
• CEO pay incentives and risk-taking: Evidence from bank acquisitions (2011, background): “If bidders make overlapping acquisition announcements within this time frame, we follow Furfine and Rosen (2009) and treat these announcements as a single deal.”