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We study the government equity infusions and the incentives of banks to participate in the Capital Purchase Program (CPP) of the Troubled Asset Relief Program (TARP). We show that strong banks opted… Expand
Value Creation Estimates Beyond Announcement Returns: Mega-Mergers versus Other Mergers
Much of the literature considers only short-term acquirer announcement returns when analyzing which mergers create value for the acquirer. However, announcement returns combine information about… Expand