Shareholder voting in mergers and acquisitions: evidence from the UK

Tokbolat, Y. ORCID: 0000-0002-4947-5301, Thompson, S. and Le, H., 2018. Shareholder voting in mergers and acquisitions: evidence from the UK. The European Journal of Finance. ISSN 1351-847X

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Abstract

This paper examines the determinants and consequences of shareholder voting on mergers and acquisitions using a sample of resolutions approved by shareholders of UK publicly listed firms from 1997 to 2015. We find that dissent on M&A resolutions is negatively related to bidder announcement returns and positively related to shareholders’ general dissatisfaction towards the management. Shareholder dissent is an important predictor of the announcement returns of subsequent M&A deals. We also report an increase in shareholder dissent after the 2007-2008 financial crisis.

Item Type: Journal article
Publication Title: The European Journal of Finance
Creators: Tokbolat, Y., Thompson, S. and Le, H.
Publisher: Taylor & Francis
Date: 30 November 2018
ISSN: 1351-847X
Identifiers:
NumberType
10.1080/1351847x.2018.1552602DOI
Divisions: Schools > Nottingham Business School
Depositing User: Linda Sullivan
Date Added: 07 Dec 2018 09:14
Last Modified: 30 May 2020 03:00
URI: http://irep.ntu.ac.uk/id/eprint/35264

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