Buy, hold, or sell? The relationship between impression offsetting and the security analysts’ reaction to acquisition announcements

Simple item page
dc.contributor.advisorAalbers, R.
dc.contributor.authorFlorijn, Marit
dc.date.issued2023-06-26
dc.description.abstractImpression offsetting is the sharing of positive, but unrelated news before a certain event which is often used when organizations expect negative reactions. It is found that impression offsetting can reduce negative stock market reactions toward acquisition announcements. However, the influence on other stakeholders has been overseen in the literature. Security analysts are important stakeholders of an organization. This research aimed to investigate the relationship between impression offsetting and the reactions of security analysts toward acquisition announcements. Impression offsetting is hypothesized to be negatively related to the reactions of security analysts towards acquisition announcements. A high financial risk profile and high earnings surprises are expected to moderate this relationship negatively. A quantitative study was used to test the hypotheses with a sample that consists of S&P 500 firms that announced an acquisition in the years 2010-2019. The findings suggest that impression offsetting can have a negative impact on the reaction of security analysts toward acquisition announcements. The research contributes to the literature on impression offsetting, security analysts, expectancy violation theory, and reaction costs. Also, managerial implications, limitations, and directions for future research are discussed.
dc.identifier.urihttps://theses.ubn.ru.nl/handle/123456789/16078
dc.language.isoen
dc.thesis.facultyFaculteit der Managementwetenschappen
dc.thesis.specialisationspecialisations::Faculteit der Managementwetenschappen::Master Business Administration::Strategic Management
dc.thesis.studyprogrammestudyprogrammes::Faculteit der Managementwetenschappen::Master Business Administration
dc.thesis.typeMaster
dc.titleBuy, hold, or sell? The relationship between impression offsetting and the security analysts’ reaction to acquisition announcements
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Master Thesis - Marit Florijn PDF.pdf
Size:
900.03 KB
Format:
Adobe Portable Document Format
Download
Collections
Faculteit der Managementwetenschappen