Trinity Health of Novi, Michigan has pursued a strategy of growth through acquisitions. It has acquired hospitals, physician practices, and other healthcare organizations to create an integrated healthcare delivery system across the continuum of care. Trinity has also transferred ownership of...

This paper explores the impact of target CEOs' retirement preferences on takeovers. Using retirement age as proxy for CEOs' private merger costs, we find strong evidence that target CEOs' preferences affect merger activity. The likelihood of receiving a successful takeover bid is sharply higher...

We examine whether acquisitions are more profitable for acquirers when the firms they target disclose higher-quality accounting information. If accounting information reduces uncertainty in the value of the target firm by facilitating a more precise valuation, we predict that managers of the...