BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//BxSE - ECPv6.16.4.1//NONSGML v1.0//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
X-ORIGINAL-URL:https://www.bse.u-bordeaux.fr
X-WR-CALDESC:Évènements pour BxSE
REFRESH-INTERVAL;VALUE=DURATION:PT1H
X-Robots-Tag:noindex
X-PUBLISHED-TTL:PT1H
BEGIN:VTIMEZONE
TZID:Europe/Paris
BEGIN:DAYLIGHT
TZOFFSETFROM:+0100
TZOFFSETTO:+0200
TZNAME:CEST
DTSTART:20180325T010000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:+0200
TZOFFSETTO:+0100
TZNAME:CET
DTSTART:20181028T010000
END:STANDARD
BEGIN:DAYLIGHT
TZOFFSETFROM:+0100
TZOFFSETTO:+0200
TZNAME:CEST
DTSTART:20190331T010000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:+0200
TZOFFSETTO:+0100
TZNAME:CET
DTSTART:20191027T010000
END:STANDARD
BEGIN:DAYLIGHT
TZOFFSETFROM:+0100
TZOFFSETTO:+0200
TZNAME:CEST
DTSTART:20200329T010000
END:DAYLIGHT
BEGIN:STANDARD
TZOFFSETFROM:+0200
TZOFFSETTO:+0100
TZNAME:CET
DTSTART:20201025T010000
END:STANDARD
END:VTIMEZONE
BEGIN:VEVENT
DTSTART;TZID=Europe/Paris:20191119T123000
DTEND;TZID=Europe/Paris:20191119T133000
DTSTAMP:20191106T215410Z
CREATED:20191024T125330Z
LAST-MODIFIED:20191106T215410Z
UID:4632-1574166600-1574170200@www.bse.u-bordeaux.fr
SUMMARY:Séminaire d'Economie: Carlos Serrano
DESCRIPTION:Agenda > Tous les événements \n\nCarlos Serrano (UPF and Barcelona GSE)\n « Information Disclosure and the Market for Acquiring Technology Companies » (with George Chondrakis and Rosemarie Ziedonis) \nABSTRACT: The market for acquiring technology-intensive companies is rife with information frictions and valuation challenges. Although such frictions can stifle trading activity\, they also provide room for strategic gain. We investigate this dual role of information frictions in takeover markets by exploiting an institutional reform that released technological information in U.S. patent applications to the public domain. Leveraging cross-sectoral variation in the magnitude of new information disclosure\, we find that greater disclosure leads to an uptick in acquisitions. In line with predictions from strategic factor market theory\, however\, we find that acquirers profit less\, especially when target firms are private. This evidence is consistent with the view that information disclosure facilitates trade in takeover markets yet has a leveling effect on the returns to acquirers. \nLire le papier \n \n 
URL:https://www.bse.u-bordeaux.fr/agenda/seminaire-deconomie-carlos-serrano/
LOCATION:Salle Manon Cormier\, Univ. Bordeaux\, 16 Avenue Léon Duguit\,\, Pessac\, 33600
END:VEVENT
END:VCALENDAR