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Full-Text Articles in Business
The Value Of Economic Freedom In Cross-Border Mergers, Vivek Pandey, Tanja Steigner, Ninon K. Sutton
The Value Of Economic Freedom In Cross-Border Mergers, Vivek Pandey, Tanja Steigner, Ninon K. Sutton
Accounting, Finance & Business Law Faculty Publications and Presentations
This study examines the impact of economic freedom in mergers and acquisitions (M&A) using a global sample of 6159 takeovers involving acquirers from 56 different countries and foreign targets from 130 countries. The results reveal that acquirers with an economic freedom advantage over their targets experience higher short-run and long-run abnormal returns after controlling for other important country and merger characteristics. At the same time, the level of economic freedom in the target country relative to the bidder country positively impacts target shareholders’ announcement wealth effects and merger premiums. The results are robust to various control variables, industry, year and …
Should Pharma Companies Waive Their Covid-19 Vaccine Patents? A Legal And Ethical Appraisal, Tammy W. Cowart, Gregory L. Bock
Should Pharma Companies Waive Their Covid-19 Vaccine Patents? A Legal And Ethical Appraisal, Tammy W. Cowart, Gregory L. Bock
Accounting, Finance & Business Law Faculty Publications and Presentations
Pharmaceutical companies, like many other types of companies, are incentivized to create, manufacture, and distribute new products, in part due to the legal protections of patent law. However, the tension between patent rights and the public good has been heightened as pharma companies developed new vaccines to combat the COVID-19 pandemic. Wealthy governments paid well for vaccines and received ample supplies, while low- and middle-income countries struggled to obtain access to any vaccines. Some countries called for pharmaceutical companies to waive their patent protections for vaccines in order to facilitate the worldwide manufacture and distribution of COVID-19 vaccines. This paper …