Fifth Annual Mergers & Acquisitions Research Centre Conference

Description

Monday 28 June & Tuesday 29 June 2021 (12pm - 4pm UK time). Our MARC conference is among the most selective high-quality conferences in the field. The papers presented at our conference are at the forefront of knowledge and of high academic rigour, as evidenced by a high acceptance rate in the top three academic journals in accounting and finance. As of January 2021, four out of eight papers presented at our first conference in 2016 have been published in the Journal of Finance and the Review of Financial Studies. Four out of seven papers presented at our second conference in 2017 have been published in the Journal of Financial Economics, the Review of Financial Studies, and the Journal of Accounting Research.

This conference will be held ONLINE, to register please click this link: https://city-ac-uk.zoom.us/webinar/register/WN_K6ISDh3jQyKuOokW53e7XA



PROGRAMME

DAY 1 – MONDAY 28TH JUNE 2021

11:30 – 12:00 Zoom main room and break-out rooms (for early arrivals and networking)

12:00 –12:15 Conference opening
Scott Moeller, Director of the M&A Research Centre, City, University of London

SESSION 1:
12:15 – 13:45
Session Chair: Zhenyi Huang (City, University of London)

Hiring high-skilled labor through mergers and acquisitions
Presenter: Shenje Hshieh (City University of Hong Kong)
Co-authors: Feng Zhang (University of Utah) and
Jun Chen (Renmin University)
Discussant: Vicente Cuñat (London School of Economics)

Security design for the acquisition of private firms
Presenter: Thomas Noe (University of Oxford)
Co-authors: Mark Jansen (University of Utah) and Ludovic Phalippou (University of Oxford)
Discussant: Ulf Axelson (London School of Economics)

SESSION 2:
14:15 – 15:45
Session Chair: Anh Tran (City, University of London)

Acquisitions and CEO compensation changes
Presenter: David Denis (University of Pittsburgh)
Co-author: Leonce Bargeron (University of Kentucky)
Discussant Fei Xie (University of Delaware)

Are managers listening to Twitter? Evidence from Mergers & Acquisitions
Presenter: Christoph M. Schiller (Arizona State University)
Discussant: Merih Sevilir (Indiana University)

13:45 – 14:15 Coffee break (with break-out groups to allow for networking and a dedicated room where you can meet with each of the preceding presenters and discussants)

15:45 – 16:00 First day summary and closing comments
Anh Tran (City, University of London)16:00 – 16:30 End-of-Day break-out rooms (including a dedicated room where you can meet with each of the preceding presenters and discussants or just for general networking)

SESSION 3:
12:15 – 13:45
Session Chair: Naaguesh Appadu (City, University of London)

Introduction: Paolo Volpin, Dean and Professor of Finance at the Business School (formerly Cass), City, University of London, will give a brief welcome and introduction to the keynote speaker.
Keynote: Rick Faery, Managing Director, Head of Corporate Insights Group, IBCM (Credit Suisse)
Keynote speech: Corporate M&A: A proven value-creation strategy

EPS-sensitivity and mergers
Presenter: Fangyuan Ma (Peking University)
Co-authors: Sudipto Dasgupta (Chinese University of Hong Kong) and Jarrad Harford (University of Washington)
Discussant: Oliver Dessaint (INSEAD)

15:45 – 16:00 Two-day summary and closing remarks
Paolo Volpin, Dean at the Business School (formerly Cass), City, University of London

16:00 – 16:30 End-of-Day break-out rooms (including a dedicated room where you can meet with each of the preceding presenters and discussants or just for general networking)

DAY 2 – TUESDAY 29TH JUNE 2021

11:30 – 12:00 Zoom main room and break-out rooms (for early arrivals and networking)

12:00 –12:15 Second Day opening
Scott Moeller, Director of the M&A Research Centre, City, University of London

13:45 – 14:15 Coffee break (with break-out groups to allow for networking and a dedicated room where you can meet with each of the preceding presenters and discussants)

SESSION 4:

14:15 – 15:45
Session Chair: Valeriya Vitkova (City, University of London)

Real effects of stock market valuations: Local valuation spillovers in M&A activity
Presenter: Anjana Rajamani (Erasmus University)
Co-author: Frederik Schlingemann (University of Pittsburgh)
Discussant: Laurent Frésard (University of Lugano and Swiss Finance Institute)

How do equity analysts impact takeovers?
Presenter: Tingting Liu (Iowa State University)
Co-authors: Eliezer Fich (Drexel University) and Micah S. Officer (Loyola Marymount University)
Discussant: Maxim Mironov (IE University)