Abstract

We examine the effects of simultaneous managerial attention and investor inattention on MA in other Muslim countries, both are. In Malaysia during Ramadan aggregate M&A activity is higher, managers fail to listen to the market, the probability of deal completion is higher and time to completion is shorter. Post-merger performance in Ramadan acquirers in Malaysia is lower. These results are consistent with the managerial attention – investor inattention hypothesis.

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