Browsing by Author "Bugeja Martin"

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Browsing by Author "Bugeja Martin"

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  • Capital gains taxation and shareholder wealth in takeovers 
    Bugeja Martin; Da Silva Rosa Raymond (Blackwell Publishing Ltd, 2010)
    Before December 1999, the capital gains of shareholders who sold their shares into Australian takeovers have been taxable irrespective of payment method. Subsequently, shareholders can elect to rollover capital gains in ...
  • CEO compensation from M&As in Australia 
    Bugeja Martin; Da Silva Rosa Raymond; Duong Lien; Izan H. Y. (AFAANZ, 2010)
    This paper investigates the extent to which Australian CEOs are compensated following the completion of mergers and acquisitions (M&A)with reference to the incentive alignment and managerial power perspective. Findings ...
  • Did Australian firms choose to switch to reporting operating cash flows using the indirect method? 
    Bond David; Bugeja Martin; Czernkowski Robert (Wiley-Blackwell Publishing Asia, 2012)
    In 2007 Australian accounting standards were amended to allow a choice of presenting operating cash flows using either the direct or indirect method. This study investigates the number of ASX-listed entities that switched ...
  • Effect of independent expert reports in Australian takeovers 
    Bugeja Martin (Blackwell Publishing, 2005)
    The Corporations Law 2001 mandates the preparation of an expert report in circumstances where the bidder is perceived to have a superior bargaining position. The present study tests whether the findings in Eddey (1993) can ...
  • Expert reports in Australian takeovers: Fees and quality 
    Bugeja Martin; Da Silva Rosa Raymond; Walter Terry (Wiley-Blackwell Publishing Asia, 2005)
    Target firms in Australian takeovers are required to commission the preparation of an independent expert report in circumstances where there is a perceived conflict of interest with the bidder. As approximately half of ...
  • Foreign takeovers of Australian listed entities 
    Bugeja Martin (Australian Graduate School of Management, 2011)
    This study examines if Australian target firm abnormal returns and characteristics differ between Australian and foreign bidders. The results indicate that takeovers from foreign bidders are associated with higher target ...
  • The 'independence' of expert opinions in corporate takeovers: Agreeing with directors' recommendations 
    Bugeja Martin (Wiley-Blackwell Publishing Ltd., 2005)
    The impact of non-audit services on auditor independence has been the recent focus of regulators worldwide. Using expert reports provided in Australian takeovers, this study investigates a context where the audit independence ...
  • Independent expert valuations in takeovers: Are they biased? 
    Bugeja Martin (CPA Australia, 2006)
    The predictability of the opinions provided in expert reports produced in Australian takeovers has led repeatedly to public criticism. This study assesses the validity of this criticism by comparing expert valuations with ...
  • Is older goodwill value relevant? 
    Bugeja Martin; Gallery Natalie (Blackwell Publishing, 2006)
    Although previous research has generally found that goodwill reported in firms' financial reports is relevant to equity valuation, no known studies have directly examined whether the value-relevance of purchased goodwill ...
  • Is there a gender gap in CEO compensation? 
    Bugeja Martin; Matolcsy Zoltan; Spiropoulos Helen (Elsevier BV, North-Holland, 2012)
    The gender pay gap generates significant political and social debate. This study contributes to this discussion by examining if a gender pay gap exists at the highest level of corporate management, the CEOs. While previous ...
  • Monitoring and the acquiring firm reaction to bad takeover bids 
    Bugeja Martin (Virtus Interpress, 2009)
    This study investigates variables that explain why bidding firms raise their offer price following a negative capital market reaction to a takeover announcement. We find that whilst an increasing number of blockholders ...
  • Takeover premiums and the perception of auditor independence and reputation 
    Bugeja Martin (Academic Press, 2011)
    This study investigates if there is a positive association between takeover premiums and the bidder¿s perception of target firm auditor reputation and independence. Using auditor size as a proxy for auditor reputation, the ...
  • Takeover premiums and the perception of auditor independence and reputation 
    Bugeja Martin (AFAANZ, 2009)
    This study investigates if there is a positive association between takeover premiums and the bidder¿s perception of target firm auditor reputation and independence. Using auditor size as a proxy for auditor reputation, the ...
  • Taxation of shareholder capital gains and the choice of payment method in takeovers 
    Bugeja Martin; Da Silva Rosa Raymond (Institute of Chartered Accountants in England and Wales, 2008)
    From December 1999, shareholders who disposed of shares in Australian takeovers in exchange for scrip could elect to defer capital gains taxation until the disposal of the shares received. We investigate payment method ...
  • Voluntary use of independent valuation advice by target firm boards in takeovers 
    Bugeja Martin (Elsevier Inc, 2007)
    This study examines why target firm directors commission a voluntary expert to assess offer adequacy in Australian takeovers. The results indicate that expert use is higher where the board is rejecting the offer. In addition, ...