We document that acquirer announcement returns and post-M&A performance rise with a
target's proportion of intangible assets. This shareholder wealth creation is associated with …

Purpose We estimate expected cross-sectional idiosyncratic stock return volatility (expected
IVOL), explore its dynamics and attempt to link it to the characteristics related to the real …

Proponents of recognizing intangible assets argue intangibles are a key source of value and
profitability, while opponents note the considerable inherent measurement uncertainty …

Mergers and acquisitions are often motivated by the intention of creating value from
intangible assets. We develop a novel word list of intangibles and apply it to takeover …

There is a long-standing debate on the recognition of intangible assets and whether they
can be measured reliably. Most recognized intangibles are acquired in business …

Mergers and acquisitions are often motivated by the intention of creating value from
intangible assets. We develop a novel word list of intangibles and apply it to takeover …

We examine the relationship between managerial ability and recognized intangible assets,
including goodwill and other assets acquired in mergers and acquisitions (M&As). We find …

Mergers and acquisition have been attracting researchers' attention for decades. Besides a
variety of different motives for acquisitions, the reason why M&As are so intriguing probably …

This dissertation includes three essays on finance. In the first essay, I find that acquisitions
exhibit less evidence of agency problems when the target possesses more intangible …