What Do Returns to Acquiring Firms Tell Us ? Evidence From Firms That Make Many Acquistions  

Oleh:

Stegemoller, Mike ; Fuller, Kathleen ; Netter, Jefry

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 57 no. 4 (2002), page 1763-1794.
Topik: FIRMS; studies; rates of return; target company; acquisitions & mergers; bidders; statistical analysis
Fulltext: p 1763.pdf (137.89KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88.6 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

We study sharehokder returns for firms that acquired five or mor public, pricate, and / or subsidiary targets within a short time period. Since the same bidder chooses different types of targets and methods of payment, any variation in returns must to due to the characeristics of the target and the bid. Results indicate bidder shareholders gain when buying a private firm or subsidiary but lose when purchasing a public firm. Further, the return is greater the larger the target and if the bidder offers stock. These results are ocnsistent with a liquidity discount and tax and control effects in this market.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali