search query: @author Moeller, S. B. / total: 1
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| Author: | Moeller, S. B. Schlingemann, F. P. Stulz, R. M. |
| Title: | Firm size and the gains from acquisitions |
| Journal: | Journal of Financial Economics
2004 : AUG, VOL. 73:2, p. 201-228 |
| Index terms: | Bidding Mergers Organizational design |
| Freeterms: | Announcement return Size effect |
| Language: | eng |
| Abstract: | The authors examine a sample of acquisitions by public companies from 1980 to 2001. The study suggests the existence of a size effect in acquisition announcement returns. The announcement return for acquiring-firm shareholders is higher for small acquirers irrespective of the form of financing and whether the acquired firm is public or private. The size effect is robust to firm and deal characteristics, and it is not reversed over time |
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