Yang, Sheng-Yung; Lin, Lin; Chou, De-Wai; Cheng, Hsiao-Chen - In: The Service Industries Journal 30 (2008) 6, pp. 851-871
A growing number of merger studies concern the causality of firm performance and merger activity in the last decade, but with mixed results. Assuming semi-strong efficiency, this article argues that firms with good stock performance are more likely to acquire other firms. With 412 US-listed...