Corporate Governance and Acquisitions: Acquirer Wealth Effects in the Netherlands

This paper examines acquirer wealth effects around acquisition announcements by Dutch firms.In the Netherlands the market for corporate control is virtually absent. Dutch firms can use several types of defense mechanisms as a protection against hostile takeovers and as a restriction of shareholders. influence. As a result, shielded by defense mechanisms, Dutch managers can exercise more discretion in their corporate investment decisions than their counterparts in Anglo-Saxon countries.

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