Insider Trading and Monitoring Mechanism of Independent Director — The Mergers and Acquisition Case of XPEC Entertainment
| Autor: | Wei-Jen Wang, 王暐仁 |
|---|---|
| Rok vydání: | 2017 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 105 In seeking growth and development of new technologies, mergers and acquisitions is one of the most important strategy to enhance its competitiveness. When an enterprise announces merger/acquisition, the target company''s stock price can become volatile. In general, investors are positive about merger/acquisition, so the shareholders can earn positive abnormal return. Therefore insiders will have a great incentive for engaging insider trading. This study is based on the problems that arise in the mergers and acquisitions case of XPEC Entertainment. To determine whether the XPEC is an ideal target company, this study controls firm size, management efficiency and Dividend payout to test whether there is any abnormality in the share price and the extent of short sales. In addition, this study examines returns and the extent of insider trading by the independent directors. The study also discuss why in this incident the independent directors have not functioned properly for corporate governance. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
|