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Corporate Acquisitions, Diversification, and the Firm’s Lifecycle

Arikan, Asli M. - 2013

Theories of corporate finance predict that young firms make acquisitions to exploit growth opportunities, while mature firms do so because they lack growth opportunities. Further, mature firms are more likely to make wealth-destroying diversifying acquisitions because of agency problems....

Persistent link: https://www.econbiz.de/10013092379

The Effect of an Acquirer’s Life Cycle Stage on the Performance of M&As : Evidence from Mega and Non-Mega Deals in the US

Grigorieva, Svetlana - 2020

Persistent link: https://www.econbiz.de/10012839433

Online Appendix for The Lifecycle Effects of Takeover Defenses

Johnson, William C. - 2018

This is the Online Appendix for The Lifecycle Effects of Takeover Defenses (Johnson, Karpoff, and Yi, 2018) …

Persistent link: https://www.econbiz.de/10012935832

The Lifecycle Effects of Firm Takeover Defenses

Johnson, William C. - 2018

We propose and test the value reversal hypothesis, which holds that takeover defenses that enhance value when a firm is … young become costly over time. Consistent with this hypothesis, we find that (i) takeover defenses are sticky and are rarely …, for which the bonding benefits of takeover defenses decrease over time, and for which entrenchment costs increase …

Persistent link: https://www.econbiz.de/10012935889

The Industry Life Cycle and Acquisitions and Investment : Does Firm Organization Matter?

Maksimovic, Vojislav - 2010

We examine the effect of financial dependence on acquisition and investment within existing industries by single-segment and conglomerate firms for industries undergoing different long run changes in industry conditions. Conglomerates and single-segment firms differ more in rates of...

Persistent link: https://www.econbiz.de/10012761342