Chapter 17 Takeovers and shareholder value creation on the stock exchange of Thailand

Welcome:
Guest

International Finance Review

ISSN: 1569-3767
Series editor(s): Professor J. Jay Choi

Subject Area: Accounting and Finance

Content: Series Volumes | Current Volume RSS

Options: To add Favourites and Table of Contents Alerts please take a Emerald profile

Document Information:
Title:	Chapter 17 Takeovers and shareholder value creation on the stock exchange of Thailand
Author(s):	David E. Allen, Amporn Soongswang
Volume:	8 Editor(s): Suk-Joong Kim, Michael D. Mckenzie ISBN: 978-0-7623-1471-3 eISBN: 978-1-84950-514-7
Citation:	David E. Allen, Amporn Soongswang (2007), Chapter 17 Takeovers and shareholder value creation on the stock exchange of Thailand, in Suk-Joong Kim, Michael D. Mckenzie (ed.) Asia-Pacific Financial Markets: Integration, Innovation and Challenges (International Finance Review, Volume 8), Emerald Group Publishing Limited, pp.347-370
DOI:	10.1016/S1569-3767(07)00017-9 (Permanent URL)
Publisher:	Emerald Group Publishing Limited
Article type:	Chapter Item
Abstract:	There are few studies of take over effects in emerging stock markets and of whether such events result in value-increasing or value-decreasing effects for the successful targets and bidders. This study analyses the impact of successful takeovers on the Stock Exchange of Thailand (SET). Both target and bidding firms’ performances during a period of 12 months before and after the takeover are investigated. Abnormal returns are measured using an event study approach; applying two models and three parametric test statistics. The results suggest that Thai takeover effects are wealth-creating for both offeree and offeror shareholders.