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| Author: | Margsiri, W. Mello, A.S. Ruckes, M.E. |
| Title: | A dynamic analysis of growth via acquisition |
| Journal: | Review of finance
2008 : VOL. 12:4, p. 635-671 |
| Index terms: | investments financing cash management cash flow |
| Freeterms: | acquisitions |
| Language: | eng |
| Abstract: | The options for firms to grow are through internal investment or through acquisition. While internal growth takes time, an acquisition provides cash flows immediately. The opportunity to grow internally affects the price of an acquisition. This study provides predictions about how pre-announcement price run-up and negative announcement returns relate to integration costs and synergies from acquisition. |
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