#2902. Can information asymmetry explain both the post-merger value and the announcement discount in M&As?

November 2026publication date
Proposal available till 30-05-2025
4 total number of authors per manuscript3510 $

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Journal’s subject area:
Economics, Econometrics and Finance (all);
Business, Management and Accounting (all);
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Abstract:
The article analyzes the relationship between the discount at the announcement and the evaluation of mergers and acquisitions (M&A) transactions after the merger; and suggests that they are related to the implications of the information asymmetry hypothesis of Myers and Maylouf (1984). The results show that mergers and acquisitions cause a temporary surge in information inequality, which leads to a temporary loss of shareholder wealth.
Keywords:
Corporate finance; Factor analysis; Information asymmetry; Mergers and acquisitions

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