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| DOI | 10.1142/S201013922450006X |
| Managing Climate Change Risks: Sea-Level Rise and Mergers and Acquisitions | |
| 发表日期 | 2024 |
| ISSN | 2010-1392 |
| EISSN | 2010-1406 |
| 起始页码 | 14 |
| 结束页码 | 1 |
| 卷号 | 14期号:1 |
| 英文摘要 | Using a large sample over the period 1986 to 2017, we show that companies with higher exposure to climate change risk induced by sea-level rise (SLR) tend to acquire firms that are unlikely to be directly affected by SLR. We find that acquirers with higher SLR exposure experience significantly higher announcement-period abnormal stock returns. Analyses using failed merger bids as an exogenous shock show that post-merger, analyst forecasts become more accurate and environmental-related as well as overall ESG scores improve. |
| 英文关键词 | Climate change; sea level rise; mergers and acquisitions |
| 语种 | 英语 |
| WOS研究方向 | Business & Economics |
| WOS类目 | Business, Finance |
| WOS记录号 | WOS:001209011600001 |
| 来源期刊 | QUARTERLY JOURNAL OF FINANCE
 |
| 文献类型 | 期刊论文 |
| 条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/286158 |
| 作者单位 | Northeastern University; University of North Carolina; University of Massachusetts System; University of Massachusetts Boston |
| 推荐引用方式 GB/T 7714 | . Managing Climate Change Risks: Sea-Level Rise and Mergers and Acquisitions[J],2024,14(1). |
| APA | (2024).Managing Climate Change Risks: Sea-Level Rise and Mergers and Acquisitions.QUARTERLY JOURNAL OF FINANCE,14(1). |
| MLA | "Managing Climate Change Risks: Sea-Level Rise and Mergers and Acquisitions".QUARTERLY JOURNAL OF FINANCE 14.1(2024). |
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