Is the English Premier League owners' and directors' test fit for purpose?
Human Rights activists and groups such as Amnesty International, have showed their concern on the new takeover of the sponsors behind English football clubs such as Newcastle United
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Doctoral Researcher Rupini takes part in Responsible Investment Roundtable
28 June 2016
Doctoral Researcher at the ICMA Centre, Rupini D Rajagopalan, recently participated at a Responsible Investment (RI) Roundtable which was sponsored by Insight Investment, Lombard Odier Investment Managers and RBC Global Asset Management.
ICMA Centre academics receive research award
1 May 2015
Dr Ioannis Oikonomou and Professor Chris Brooks’ work on the connection between firm sustainability and the pricing of corporate bonds was recently honoured with the Outstanding Publication Award from the Financial Review academic journal.
Academics Win Best Corporate Finance Paper Award 2016
8 November 2016
"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.