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Une Analyse Lexicale Des Communiques De Presse Volontaires Emis Lors Des Opa/Ope : Quels Profils De Diffusion ?

  • Emmanuelle Negre

    (LGCO - Laboratoire Gouvernance et Contrôle Organisationnel - UPS - Université Paul Sabatier - Toulouse 3)

  • Isabelle Martinez

    (LGCO - Laboratoire Gouvernance et Contrôle Organisationnel - UPS - Université Paul Sabatier - Toulouse 3)

Registered author(s):

    This research aims at studying the behaviour of both the bidding and target companies that voluntarily disclose press releases between the announcement of the deal and the disclosure of the final results of offer. In this regard, 32 takeover bids approved by the AMF between December 2006 and June 2011 have been studied and a lexical analysis of 129 voluntary press releases was conducted. Disclosure profiles are highlighted according to the type of issuer of press releases (bidding and/or target companies) and the type of bid (friendly or hostile; mandatory or voluntary). Finally, the motives pursued by the issuers of press releases are discussed.

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    Paper provided by HAL in its series Post-Print with number hal-00936567.

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    Date of creation: 21 May 2012
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    Handle: RePEc:hal:journl:hal-00936567
    Note: View the original document on HAL open archive server: https://hal.archives-ouvertes.fr/hal-00936567
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    16. P. S. Sudarsanam, 1995. "The role of defensive strategies and ownership structure of target firms: Evidence from UK hostile takeover bids," European Financial Management, European Financial Management Association, vol. 1(3), pages 223-240.
    17. Ettredge, Michael & Richardson, Vernon J. & Scholz, Susan, 2002. "Dissemination of information for investors at corporate Web sites," Journal of Accounting and Public Policy, Elsevier, vol. 21(4-5), pages 357-369.
    18. Inderpal Singh & J--L W. Mitchell Van der Zahn, 2008. "Determinants of intellectual capital disclosure in prospectuses of initial public offerings," Accounting and Business Research, Taylor & Francis Journals, vol. 38(5), pages 409-431, April.
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