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DTSTART:20241008T123000
DTEND:20241008T140000
DTSTAMP:20260423T232000
SUMMARY:DF Lunch Seminar with Prof. Dragon Tang (University of Hong Kong)
DESCRIPTION:Climate Laws and Cross-Border Mergers and Acquisitions\n\nWith the Lunch Seminar series, the Department of Finance is bringing eminent and up-and-coming researchers from around the world to Luxembourg.\n\nAuthors\n\nTong Li, Dragon Yongjun Tang & Fei Xie\n\nAbstract\n\nClimate-related regulations have become increasingly prevalent worldwide. However, the nature of climate as a global public good makes it unclear to what extent these regulations are enforced by individual countries and whether they influence key corporate decisions. We examine the impact of climate laws on the international market for corporate control. We find that foreign acquirers are less likely to pursue targets in countries that have enacted climate laws and that deals announced shortly before the enactment of climate laws are more likely to be withdrawn. Furthermore, cross-border deals feature lower premiums and less post-merger operating performance improvement after target countries adopt climate laws. We uncover supporting evidence for three potential mechanisms through which climate regulations affect cross-border acquisitions, including impeding synergy creation, deterring carbon leakage through regulatory arbitrage, and selective enforcement.\n\nAbout the speaker\n\nDragon Tang is a Professor of Finance and Area Head in Finance at the University of Hong Kong.\n\nLanguage\n\nEnglish.\n\nThis is a free seminar. Registration is mandatory.\n\nCold lunches are provided to registered participants.\n\nIn partnership with\n\nSupported by the Luxembourg National Research Fund (FNR) 17984041\n\nLocation: https://www.uni.lu/en/about/campuses/weicker-building/\nRead more: https://www.uni.lu/fdef-en/events/df-lunch-seminar-with-prof-dragon-tang-university-of-hong-kong/
UID:UL-16211
LOCATION:Weicker Building 4 rue Alphonse Weicker 2721 Luxembourg Luxembourg
URL:https://www.uni.lu/fdef-en/events/df-lunch-seminar-with-prof-dragon-tang-university-of-hong-kong/
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