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Using merger documents filed with the SEC from 1994 to 2018, we show that being selected by investment banks as … merger filings. A portfolio that longs peers and shorts non-peers matched for industry and size earns up to 15.6% alpha in …
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This note surveys the classic firm-valuation methods and provides a comparison of the strengths and weaknesses of the various approaches. It is meant to be used as a convenient technical reference and supplement to cases emphasizing firm valuation
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"Indispensable coverage of new federal regulatory reforms and federal financial issuesAn essential guide covering new federal regulatory reforms and federal financial issuesFinancial Institutions, Valuations, Mergers and Acquisitions, Third Edition presents a new regulatory framework for...
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We study the process of corporate restructuring for a sample of 298 firms during the 1989-98 period that announce that they are considering restructuring alternatives. We find that restructuring is a lengthy process, with the majority of the restructuring period occurring prior to any definitive...
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that arise in the behavioral theory of the firm-uncertainty and controversy. In doing so, we investigate boundary …
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By means of a company merger formerly legally and economically independent companies are tied up to an economic entity …. To order the financial state of affairs after the merger, the current shareholders must revalue their stake in the merged … to define an ideal exchange ratio, the valuation problem of a merger was taken up again not earlier than in Hering (2004 …
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The paper studies how stock price misvaluation and financial frictions affect whether an acquisition occurs between or within industries and whether the acquirer pays in cash or stocks. I set up a model where stock market misvaluation correlates within industries and across industries and assume...
Persistent link: https://www.econbiz.de/10011621231