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Voluntary disclosures as a form of impression management to reduce evaluative uncertainty during M&A

Research output: Contribution to Journal/MagazineJournal articlepeer-review

Article number15879
<mark>Journal publication date</mark>01/2014
<mark>Journal</mark>Academy of Management Best Paper Proceedings
Publication StatusPublished
<mark>Original language</mark>English


This study develops and tests a set of hypotheses on how to manage investors’ evaluative uncertainty during M&A through a specific form of impression management, namely, interim news events. We suggest that voluntary disclosures are key in influencing investors’ reactions during M&A. Empirical support for our theoretical arguments is shown in a sample of 36,376 deals and 163,023 associated interim news events carried out by NYSE and NSDQ listed organizations over 10 years. Our research contributes to literature on voluntary disclosures, impression management, and managing M&A.