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Is There Information in Corporate Acquisition Plans?
Gokkaya, Sinan; Liu, Xi; Stulz, René M. - National Bureau of Economic Research - 2024
. Communication of acquisition plans does not increase takeover premiums but is less common in more competitive industries …
Persistent link: https://www.econbiz.de/10014512055
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Post-Merger Restructuring and the Boundaries of the Firm
Maksimovic, Vojislav - 2008
. The extent of post-merger restructuring activities and their cross-sectional variation do not support an empire building …
Persistent link: https://www.econbiz.de/10012464355
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The Industry Life Cycle and Acquisitions and Investment : Does Firm Organization Matter?
Maksimovic, Vojislav - 2006
We examine the effect of financial dependence on acquisition and investment within existing industries by single-segment and conglomerate firms for industries undergoing different long run changes in industry conditions. Conglomerates and single-segment firms differ more in rates of...
Persistent link: https://www.econbiz.de/10012466371
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Does Greater Public Scrutiny Hurt a Firm's Performance?
Bennett, Benjamin; Stulz, René M.; Wang, Zexi - National Bureau of Economic Research - 2023
Public attention to a firm may provide valuable monitoring, but it may also have a dark side by constraining management's decisions and distracting it. We use inclusion in the S&P 500 index as a positive shock to public attention. Media coverage, Google searches, SEC downloads, SEC comment...
Persistent link: https://www.econbiz.de/10013537752
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The Effects of Taxation on the Merger Decision
Auerbach, Alan J. - 1987
that the tax losses and credits of acquired firms likewise exerted no impact on merger activity. Though the use of such …
Persistent link: https://www.econbiz.de/10012476878
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Swedish Firms Acquired by Foreigners : A Comparison of Before and After Takeover
Lipsey, Robert E. - 1982
relatively low in value added per employee at the time of takeover and before, a characteristic we take to indicate relatively …-term recoveries after takeover from the misfortunes of the takeover year and a return to higher growth rates of employment and output … year or two after takeover but seem to have increased their profitability or efficiency relative to their industries. The …
Persistent link: https://www.econbiz.de/10012478083
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How to Get Away with Merger : Stealth Consolidation and Its Real Effects on US Healthcare
Wollmann, Thomas G. - 2020
Most US mergers are not reported to the government on the basis of their size, which can effectively exempt them from antitrust scrutiny, thereby leading to anticompetitive behavior. This paper studies premerger notification exemptions in the US dialysis industry. Over two decades, dialysis...
Persistent link: https://www.econbiz.de/10012481856
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Evidence of Regulatory Arbitrage in Cross-Border Mergers of Banks in the EU
Carbo-Valverde, Santiago - 2009
banks in individual EU countries help to explain the nature of cross-border merger activity. If they wish to protect …
Persistent link: https://www.econbiz.de/10012463202
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World Markets for Mergers and Acquisitions
Erel, Isil - 2009
Despite the fact that one-third of worldwide mergers involve firms from different countries, the vast majority of the academic literature on mergers studies domestic mergers. What little has been written about cross-border mergers has focused on public firms, usually from the United States. Yet,...
Persistent link: https://www.econbiz.de/10012463518
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Product Market Synergies and Competition in Mergers and Acquisitions : A Text-Based Analysis
Hoberg, Gerard - 2008
We examine how product differentiation influences mergers and acquisitions and the ability of firms to exploit product market synergies. Using novel text-based analysis of firm 10K product descriptions, we find three key results. (1) Firms are more likely to enter restructuring transactions when...
Persistent link: https://www.econbiz.de/10012464357