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Title: An Empirical Analysis of Changes in Financial Leverage Following Mergers of Australian Firms
Contributor(s): Rath, S (author); Yarram, SR (author)
Publication Date: 2005
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Abstract: This study analyzes the changes in financial leverage for the firms involved in merger and acquisitions in Australia during the period 1988 to 1996 and attempts to identify the reasons for changes in leverage. Consistent with previous studies, the present study also finds that the target firms' shareholders gain the highest in takeovers and that the combined firms financial leverage tend to increase after the merger. Further, the present study finds support for the argument that it is increased debt capacity that influences increased financial leverage.
Publication Type: Conference Publication
Conference Name: 2005 AFAANZ Conference, Melbourne, 3-5 July, 2005
Conference Details: 2005 AFAANZ Conference, Melbourne, 3-5 July, 2005
Source of Publication: 2005 AFAANZ Conference Proceedings, p. 1-19
Publisher: AFAANZ: Accounting and Finance Association of Australia and New Zealand
Place of Publication: Melbourne
Field of Research (FOR): 150201 Finance
Peer Reviewed: Yes
HERDC Category Description: E1 Refereed Scholarly Conference Publication
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