Role of single largest investors: Examples of mutual funds and acquisitions

Research output: Journal PublicationArticlepeer-review

2 Citations (Scopus)

Abstract

This study investigates the effect of collective holding by the largest mutual fund management company in acquiring companies on acquirers' post-event valuation. We find that total holdings by mutual funds is not a superior proxy to predict the acquiring firms' post-event valuation; however, the collective holding by the largest mutual fund management company in acquiring firms is significantly positively related to the valuation of acquiring firms.

Original languageEnglish
Pages (from-to)104-110
Number of pages7
JournalFinance Research Letters
Volume14
DOIs
Publication statusPublished - 1 Aug 2015

Keywords

  • Institutional investors
  • Mergers & acquisitions
  • Monitoring role
  • Mutual funds

ASJC Scopus subject areas

  • Finance

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