Xu, Lianzan; Cai, Francis - In: Competitiveness Review: An International Business Journal 16 (2006) 1, pp. 32-37
This paper examines the assertion that the financial market pays fixed PE multiples and that the recognition of goodwill and subsequent amortization depresses earnings and stock prices, putting U.S. firms in a competitive disadvantage in the international merger and acquisition arena. Evidence...