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Purpose - The purpose of this research paper is to clarify why shareholders should be prudent when managers promise value gains from a synergetic merger. Design/methodology/approach -The paper proposes a simple two-state model of stochastic firm cash flows which allows for a discussion of wealth...
Persistent link: https://www.econbiz.de/10010814836
Purpose - The purpose of this research paper is to clarify why shareholders should be prudent when managers promise value gains from a synergetic merger. Design/methodology/approach -The paper proposes a simple two-state model of stochastic firm cash flows which allows for a discussion of wealth...
Persistent link: https://www.econbiz.de/10010757368
Purpose – The purpose of this research paper is to clarify why shareholders should be prudent when managers promise value gains from a synergetic merger. Design/methodology/approach – The paper proposes a simple two‐state model of stochastic firm cash flows which allows for a discussion of...
Persistent link: https://www.econbiz.de/10014939981