Abstract
This study analyzes the changes in financial leverage for the firms involved in merger and acquisitions in Australia during the period 1988 to 1996 and attempts to identify the reasons for changes in leverage. Consistent with previous studies, the present study also finds that the target firms' shareholders gain the highest in takeovers and that the combined firms financial leverage tend to increase after the merger. Further, the present study finds support for the argument that it is increased debt capacity that influences increased financial leverage.
| Original language | English |
|---|---|
| Title of host publication | 2005 AFAANZ Conference Proceedings |
| Place of Publication | Melbourne, Australia |
| Publisher | Accounting and Finance Association of Australia and New Zealand (AFAANZ) |
| Pages | 1-19 |
| ISBN (Print) | 0975697617 |
| Publication status | Published - 2005 |
| Event | AFAANZ 2005: Accounting and Finance Association of Australia and New Zealand 2005 Conference - Melbourne, Australia Duration: 3 Jul 2005 → 5 Jul 2005 |
Conference
| Conference | AFAANZ 2005: Accounting and Finance Association of Australia and New Zealand 2005 Conference |
|---|---|
| City | Melbourne, Australia |
| Period | 3/07/05 → 5/07/05 |
Keywords
- Finance
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