Acquisition Sample Sample Clauses

Acquisition Sample. The merger data come from the Securities Data Company (SDC). After collecting all mergers from 1985 to 2014, we impose the following three data requirements which are similar to those in Masulis, Wang, and Xie (2007). First, the acquirer is a publicly traded company with stock returns data available in Center for Research in Security Prices (CRSP); the bidder is allowed to be either a publicly traded or private. Second, the deal value represents at least 1% of the acquirer's market value, as measured at the fiscal year end before the announcement. Third, we require the bidder to be identified in either the BoardEx or the ExecuComp database. We also require CEO information at the time of the announcement (dates of employment are occasionally missing early in the sample period). The bidder firm CEO data were obtained from both the BoardEx and ExecuComp. Boardex data contains detailed profiles of US executives and board members, covering virtually all US public companies.6 ExecuComp data contains detailed information on executive compensation data for past and current S&P 1500 firms. We are able to match 6 Xxxxx. Xxxxxxxx and Xxxxxx (2008) provide a more detailed description of the database. See also Xxxxxxxx and Xxxxx (2012), Cohen, Frazzini, and Xxxxxx (2012), and Xxxxxxx (2015). 15,526 mergers from SDC data with Boardex/ExecuComp that have engaged in mergers of public/private targets for our sample period.
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Related to Acquisition Sample

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