Sugata, Ray; Missaka, Warusawitharana - In: The B.E. Journal of Economic Analysis & Policy 9 (2009) 1, pp. 1-27
A rational, efficiency-based view of acquisitions implies that larger transactions generate greater gains for the acquirer and the seller. We test this prediction and find a positive relationship between acquirer abnormal returns and transaction size scaled by the acquirer size. This...