The geography of block acquisitions

Jun Koo Kang, Jin Mo Kim

Research output: Contribution to journalArticlepeer-review

190 Scopus citations


Using a large sample of partial block acquisitions, we examine the importance of geographic proximity in corporate governance and target returns. We find that block acquirers have a strong preference for geographically proximate targets and acquirers that purchase shares in such targets are more likely to engage in post-acquisition target governance activities than are remote block acquirers. Moreover, the targets of these acquirers realize higher announcement returns and better post-acquisition operating performance than do targets of other types of acquirers, particularly when they face greater information asymmetries.

Original languageEnglish (US)
Pages (from-to)2817-2858
Number of pages42
JournalJournal of Finance
Issue number6
StatePublished - Dec 2008

All Science Journal Classification (ASJC) codes

  • Accounting
  • Finance
  • Economics and Econometrics


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