acquiring managers' decision to abandon a corporate acquisition attempt conditional on the acquiring firm's stock price reaction … at the announcement of the deal. We find that higher cultural similarity decreases the propensity of acquiring managers … shock to establish a causal link. We interpret the findings to imply that acquiring managers are subject to a confirmatory …

declines with “hyperopia” and “efficient” management. Our results suggest that managers who focus on sustaining long …, managers who pursue profitability at the expense of long-term shareholder value creation are more likely to face takeovers …

prevents managers from taking excessive risk. Additional analysis based on propensity score matching also confirms our results …