Home > Research > Publications & Outputs > Common auditors and cross-country M&A transactions

Electronic data

  • Common auditors and cross-country M&A transactions

    Rights statement: This is the author’s version of a work that was accepted for publication in Journal of International Financial Markets, Institutions and Money. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of International Financial Markets, Institutions and Money, 54, 2018 DOI: 10.1016/j.intfin.2017.04.001

    Accepted author manuscript, 660 KB, PDF document

    Available under license: CC BY-NC-ND: Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License

Links

Text available via DOI:

View graph of relations

Common auditors and cross-country M&A transactions

Research output: Contribution to journalJournal article

Published

Standard

Common auditors and cross-country M&A transactions. / Chircop, Justin; Tarsalewska, Monika; Johan, Sofia.

In: Journal of International Financial Markets, Institutions and Money, Vol. 54, 05.2018, p. 43-58.

Research output: Contribution to journalJournal article

Harvard

Chircop, J, Tarsalewska, M & Johan, S 2018, 'Common auditors and cross-country M&A transactions', Journal of International Financial Markets, Institutions and Money, vol. 54, pp. 43-58. https://doi.org/10.1016/j.intfin.2017.04.001

APA

Chircop, J., Tarsalewska, M., & Johan, S. (2018). Common auditors and cross-country M&A transactions. Journal of International Financial Markets, Institutions and Money, 54, 43-58. https://doi.org/10.1016/j.intfin.2017.04.001

Vancouver

Chircop J, Tarsalewska M, Johan S. Common auditors and cross-country M&A transactions. Journal of International Financial Markets, Institutions and Money. 2018 May;54:43-58. https://doi.org/10.1016/j.intfin.2017.04.001

Author

Chircop, Justin ; Tarsalewska, Monika ; Johan, Sofia. / Common auditors and cross-country M&A transactions. In: Journal of International Financial Markets, Institutions and Money. 2018 ; Vol. 54. pp. 43-58.

Bibtex

@article{670a242bac994db9860c15227f6301a1,
title = "Common auditors and cross-country M&A transactions",
abstract = "Using a comprehensive sample of cross-country mergers and acquisitions for the period 2000 to 2014 we examine the effect of common auditors on the efficiency of cross-country M&A transactions. We predict that the use of common auditors reduces uncertainty, resulting in higher M&A efficiency. We find that this common-auditor effect results in a positive market reaction to the M&A announcement, lower premium and greater increase in return on assets following the M&A transaction. Further, we find that these effects are more pronounced the greater the M&A transaction uncertainty and when the accounting standards of parties differ.",
author = "Justin Chircop and Monika Tarsalewska and Sofia Johan",
note = "This is the author{\textquoteright}s version of a work that was accepted for publication in Journal of International Financial Markets, Institutions and Money. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of International Financial Markets, Institutions and Money, 54, 2018 DOI: 10.1016/j.intfin.2017.04.001",
year = "2018",
month = may
doi = "10.1016/j.intfin.2017.04.001",
language = "English",
volume = "54",
pages = "43--58",
journal = "Journal of International Financial Markets, Institutions and Money",
issn = "1042-4431",
publisher = "Elsevier BV",

}

RIS

TY - JOUR

T1 - Common auditors and cross-country M&A transactions

AU - Chircop, Justin

AU - Tarsalewska, Monika

AU - Johan, Sofia

N1 - This is the author’s version of a work that was accepted for publication in Journal of International Financial Markets, Institutions and Money. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of International Financial Markets, Institutions and Money, 54, 2018 DOI: 10.1016/j.intfin.2017.04.001

PY - 2018/5

Y1 - 2018/5

N2 - Using a comprehensive sample of cross-country mergers and acquisitions for the period 2000 to 2014 we examine the effect of common auditors on the efficiency of cross-country M&A transactions. We predict that the use of common auditors reduces uncertainty, resulting in higher M&A efficiency. We find that this common-auditor effect results in a positive market reaction to the M&A announcement, lower premium and greater increase in return on assets following the M&A transaction. Further, we find that these effects are more pronounced the greater the M&A transaction uncertainty and when the accounting standards of parties differ.

AB - Using a comprehensive sample of cross-country mergers and acquisitions for the period 2000 to 2014 we examine the effect of common auditors on the efficiency of cross-country M&A transactions. We predict that the use of common auditors reduces uncertainty, resulting in higher M&A efficiency. We find that this common-auditor effect results in a positive market reaction to the M&A announcement, lower premium and greater increase in return on assets following the M&A transaction. Further, we find that these effects are more pronounced the greater the M&A transaction uncertainty and when the accounting standards of parties differ.

U2 - 10.1016/j.intfin.2017.04.001

DO - 10.1016/j.intfin.2017.04.001

M3 - Journal article

VL - 54

SP - 43

EP - 58

JO - Journal of International Financial Markets, Institutions and Money

JF - Journal of International Financial Markets, Institutions and Money

SN - 1042-4431

ER -