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The distribution of firm sizes is known to be heavy tailed. In order to account for this stylized fact, previous studies have focused mainly on growth through investments in a company's own operations (internal growth). Thereby, the impact of mergers and acquisitions (M&A) on the firm size...
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ex ante takeover exposure positively and robustly relates to cross-sectional expected returns. The relation between size … and expected returns becomes positive or insignificant, rather than negative, conditional on this takeover characteristic …. Asset pricing models that include a factor based on the takeover characteristic outperform otherwise similar models that …
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Concerns over size in banking arise from the potential for a megabank to harm competition and extract safety net subsidies. With the worrisome increases in size having been achieved through megamergers, this paper examines whether gains in such mergers trace to efficiency improvements or market...
Persistent link: https://www.econbiz.de/10013133470
Concerns over size in banking arise from the potential for a megabank to harm competition and extract safety net subsidies. With the worrisome increases in size having been achieved through megamergers, this paper examines whether gains in such mergers trace to efficiency improvements or market...
Persistent link: https://www.econbiz.de/10013133805
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