Feroz, Ehsan H.; Kim, Sungsoo; Raab, Ray - In: Review of Accounting and Finance 4 (2005) 3, pp. 86-100
Corporate finance studies of mergers and acquisitions have relied mostly on stock price reactions to evaluate the impact of these events. In this paper, we analyze the performance of a sample of merged firms over a ten year period using a managerially controlled efficiency measure, data...