Hannan, Timothy H; Rhoades, Stephen A - In: The Review of Economics and Statistics 69 (1987) 1, pp. 67-74
Findings do not indicate poorly-managed firms are more likely to be acquired than well-managed firms. The analysis uses a sample of 1,046Texas banks that existed in 1970, out of which 201 were acqui red during the period 1970-82. A multinomial logit procedure is used to estimate the relationship...