| Autor: |
Florio, Cristina, Rossignoli, Francesca |
| Zdroj: |
International Journal of Accounting, Auditing and Performance Evaluation; 2024, Vol. 20 Issue: 1 p291-318, 28p |
| Abstrakt: |
This study investigates whether acquirers provide higher-quality disclosures for mergers and acquisitions (M&As) after the global financial crisis (GFC) compared to before, in an effort to restore investors' trust and secure access to credit in a country, Italy, that lengthy recovered from the severe GFC. By employing a comprehensive mandatory disclosure index, we conduct empirical research on a sample of M&As spanning the pre-GFC (2006-2008) and post-GFC (2015-2017) periods in Italy. Our findings show heightened M&A disclosure quality post-GFC compared to the pre-crisis period, with the improvement being significantly more pronounced in family-owned acquirers than in non-family ones. This outcome remains robust after matching family and non-family observations through propensity-score matching. The study enriches extant knowledge on disclosure quality and offers practical implications to regulators, standard setters, and investors who may evaluate different responses to the GFC in a crucial area of disclosure. |
| Databáze: |
Supplemental Index |
| Externí odkaz: |
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