This paper describes the accounting goodwill in UK turnovers between 1976 and 1992. The paper documents the dramatic growth of goodwill in the mid-eighties. Overwhelmingly this was the result of the economy-wide rise in the valuation ratio. There is also evidence of companies writing down net...

This paper describes the accounting goodwill in UK turnovers between 1976 and 1992. The paper documents the dramatic growth of goodwill in the mid-eighties. Overwhelmingly this was the result of the economy-wide rise in the valuation ratio. There is also evidence of companies writing down net...

This study reports the operating performance of UK takeovers over the period 1976 to 1990. We show that hostile takeovers have led to improved profits and cash flows. We do not find evidence, as reported in previous studies, that large takeovers in general lead to improved cash flow performance....