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- W1992342363 abstract "Before December 1999, the capital gains of shareholders who sold their shares into Australian takeovers have been taxable irrespective of payment method. Subsequently, shareholders can elect to rollover capital gains in equity takeovers. We examine the effect of this change on the association between target shareholder capital gains and bidder and target firm shareholder wealth. The results indicate that prior to the regulatory change, cash consideration results in higher target shareholder returns for non-taxation reasons. After the introduction of capital gains tax rollover relief, we find that target and acquiring firm shareholders earn lower returns when cash consideration is offered to shareholders with greater capital gains." @default.
- W1992342363 created "2016-06-24" @default.
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- W1992342363 date "2009-12-02" @default.
- W1992342363 modified "2023-10-18" @default.
- W1992342363 title "Capital gains taxation and shareholder wealth in takeovers" @default.
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- W1992342363 doi "https://doi.org/10.1111/j.1467-629x.2009.00334.x" @default.
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