TY - JOUR
T1 - Voluntary Disclosures as a Form of Impression Management to Reduce Evaluative Uncertainty During M&A
AU - Yakis-Douglas, Basak
AU - Angwin, Duncan
AU - Meadows, Maureen
AU - Ahn, Kwangwon
PY - 2014/1/1
Y1 - 2014/1/1
N2 - 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.
AB - 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.
U2 - 10.5465/ambpp.2014.1
DO - 10.5465/ambpp.2014.1
M3 - Article
VL - 2014
JO - ACADEMY OF MANAGEMENT BEST PAPER PROCEEDINGS
JF - ACADEMY OF MANAGEMENT BEST PAPER PROCEEDINGS
IS - 1
ER -