ICMA Centre hosts joint event with Henley Finance Club

"Institutional Cross-ownership and Corporate Strategy: The Case of Mergers and Acquisitions" by Professor Chris Brooks, Dr Yeqin Zeng, and PhD Zhong Chen has been awarded Best Corporate Finance Paper at the 2016 Southern Finance Association annual conference. About the paper: The paper provides new evidence on the important role of institutional investors in affecting corporate strategy. We study institutional investors who hold stocks of both acquirers and targets before the announcements of mergers and acquisitions (M&As). The existence of these institutional cross-owners not only increases the probability of two firms merging, but also affects the outcomes of M&As. Institutional cross-ownership reduces target firm prices, lowers completion probabilities of deals with negative acquirer announcement returns, and increases the use of stock payment in M&A transactions. Furthermore, deals with high institutional cross-ownership have lower transaction costs and disclose more transparent financial statement information.

Earlier this term we announced Akshat Vyas as the recipient of the CISI Educational Trust Award 2019. We are excited to hear that from the participating universities, Akshat was chosen as the top performing postgraduate student and received an additional £3000 award.

Long-term care for the elderly has always been required, but as people are now living longer than ever before - this care is needed for many more people. In the future, if longevity continues on its current growth trajectory, the demand for care will increase further.