{"id":{"repo_id":"brock","oai_identifier":"oai:brocku.scholaris.ca:10464/10434"},"canonical_url":"https://search.dev.ndltd.org/etd/brock/oai:brocku.scholaris.ca:10464/10434","repository":{"repo_id":"brock","name":"Brock University","base_url":"https://brocku.scholaris.ca/server/oai/request"},"display":{"title":"Corporate Inversions and Long-Run Performance","abstract":"This paper investigates the short-term and long-term stock performance of firms that undergo corporate inversions. The results show that the market response to the initial inversion announcement differs based on the type of inversion. Merger & Acquisition (M&A) and restructuring inversions are perceived positively by the market, but naked inversions do not generate a price response. Furthermore, acquirers in inversion-related M&A transactions generate a price premium that is in excess of what is typically generated by acquirers in non-inversion M&A. In the long-run, firms that invert through naked and M&A inversions do not generate significant excess returns above the S&P 500. In contrast, restructured inverted firms generate significant excess returns of 214.53%. Collectively, however, the results suggest that corporate inversion alone is not an indicator of future stock returns.","abstract_html":"This paper investigates the short-term and long-term stock performance of firms that undergo corporate inversions. The results show that the market response to the initial inversion announcement differs based on the type of inversion. Merger & Acquisition (M&A) and restructuring inversions are perceived positively by the market, but naked inversions do not generate a price response. Furthermore, acquirers in inversion-related M&A transactions generate a price premium that is in excess of what is typically generated by acquirers in non-inversion M&A. In the long-run, firms that invert through naked and M&A inversions do not generate significant excess returns above the S&P 500. In contrast, restructured inverted firms generate significant excess returns of 214.53%. Collectively, however, the results suggest that corporate inversion alone is not an indicator of future stock returns.","abstract_has_math":false,"creators":["Warraich, Hamza"],"institution":"Brock University","degree_name":"M.Sc. Management","degree_level":"Masters","degree_discipline":"Faculty of Business","degree_department":"Faculty of Business Programs","school":null,"contributors":[],"advisors":[],"committee_chairs":[],"committee_members":[],"year":2016,"date_issued":"2016-09-22T14:51:01Z","date_published":"2016-09-22T14:51:01Z","updated_at":"2026-07-24T01:23:00Z","subjects":["Corporate Tax","Corporate Inversion","Tax Avoidance"],"languages":["eng"],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"http://hdl.handle.net/10464/10434","outbound_label":"Handle","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.department","label":"Department","values":["Faculty of Business Programs"]},{"key":"dc:creator","label":"Author","values":["Warraich, Hamza"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2016-09-22T14:51:01Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2016-09-22T14:51:01Z"]},{"key":"dc:date.issued","label":"Date","values":["2016-09-22T14:51:01Z"]},{"key":"dc:type","label":"Dc Type","values":["Electronic Thesis or Dissertation"]},{"key":"thesis:degree_discipline","label":"Discipline","values":["Faculty of Business"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Masters"]},{"key":"thesis:degree_name","label":"Degree Name","values":["M.Sc. Management"]},{"key":"thesis:institution_name","label":"Thesis Institution Name","values":["Brock University"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Corporate Tax","Corporate Inversion","Tax Avoidance"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language.iso","label":"Language (ISO)","values":["eng"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["http://hdl.handle.net/10464/10434"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["This paper investigates the short-term and long-term stock performance of firms that undergo corporate inversions. The results show that the market response to the initial inversion announcement differs based on the type of inversion. Merger & Acquisition (M&A) and restructuring inversions are perceived positively by the market, but naked inversions do not generate a price response. Furthermore, acquirers in inversion-related M&A transactions generate a price premium that is in excess of what is typically generated by acquirers in non-inversion M&A. In the long-run, firms that invert through naked and M&A inversions do not generate significant excess returns above the S&P 500. In contrast, restructured inverted firms generate significant excess returns of 214.53%. Collectively, however, the results suggest that corporate inversion alone is not an indicator of future stock returns."]},{"key":"dc:title","label":"Title","values":["Corporate Inversions and Long-Run Performance"]}]}],"canonical_facts":{"dc:contributor.department":["Faculty of Business Programs"],"dc:creator":["Warraich, Hamza"],"dc:date.accessioned":["2016-09-22T14:51:01Z"],"dc:date.available":["2016-09-22T14:51:01Z"],"dc:date.issued":["2016-09-22T14:51:01Z"],"dc:description.abstract":["This paper investigates the short-term and long-term stock performance of firms that undergo corporate inversions. The results show that the market response to the initial inversion announcement differs based on the type of inversion. Merger & Acquisition (M&A) and restructuring inversions are perceived positively by the market, but naked inversions do not generate a price response. Furthermore, acquirers in inversion-related M&A transactions generate a price premium that is in excess of what is typically generated by acquirers in non-inversion M&A. In the long-run, firms that invert through naked and M&A inversions do not generate significant excess returns above the S&P 500. In contrast, restructured inverted firms generate significant excess returns of 214.53%. Collectively, however, the results suggest that corporate inversion alone is not an indicator of future stock returns."],"dc:identifier.uri":["http://hdl.handle.net/10464/10434"],"dc:language.iso":["eng"],"dc:subject":["Corporate Tax","Corporate Inversion","Tax Avoidance"],"dc:title":["Corporate Inversions and Long-Run Performance"],"dc:type":["Electronic Thesis or Dissertation"],"thesis:degree_discipline":["Faculty of Business"],"thesis:degree_level":["Masters"],"thesis:degree_name":["M.Sc. Management"],"thesis:institution_name":["Brock University"]},"updated_at":"2026-07-24T01:23:00Z"}