Trimbath, Susanne; Frydman, Halina; Frydman, Roman - In: Review of Quantitative Finance and Accounting 17 (2001) 4, pp. 397-420
This study, using the Cox proportional hazards model, finds that the risk of takeover rises with cost inefficiency. It also finds that a firm faces a significantly higher risk of takeover if its cost performance lags behind its industry benchmark. Moreover, these findings appear to be remarkably...