Maloney, Michael T; McCormick, Robert E; Mitchell, Mark L - In: The Journal of Business 66 (1993) 2, pp. 189-217
This article investigates leverage influence on project selection. First, the authors examine 428 mergers (1962-82) and then 389 acquisitions of all types (1982-86). Announcement-period acquirer returns are greater the higher the leverage of the acquirer. A third data set contains 173...