search query: @author Laamanen, T. / total: 5
reference: 4 / 5
| Author: | Laamanen, T. |
| Title: | On the role of acquisition premium in acquisition research |
| Journal: | Strategic Management Journal
2007 : DEC, VOL. 28:13, p. 1359-1369 |
| Index terms: | shareholders stocks wealth technology decision making research |
| Freeterms: | acquisitions USA |
| Language: | eng |
| Abstract: | This paper of research notes and commentaries departs from the earlier research, showing that acquisition premia may be justified when target firms' resources are difficult for the market to value. Based on an analysis of a sample of 458 acquisitions, it is shown that although higher premia are paid for R&D -related assets, the premia do not cause negative abnormal returns which are more strongly affected by the overall target price levels independent of premia. |
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