haku: @author Franks, J. / yhteensä: 11
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| Tekijä: | Franks, J. Harris, R. Titman, S. |
| Otsikko: | The postmerger share-price performance of acquiring firms. |
| Lehti: | Journal of Financial Economics
1991 : MAR, VOL. 29:1, p. 81-96 |
| Asiasana: | MERGERS SHARE PRICES USA |
| Kieli: | eng |
| Tiivistelmä: | Share-price performance following corporate takeovers is investigated. Multi-factor benchmarks are used from the portfolio evaluation literature that overcome some of the known mean-variance inefficiencies of more traditional single-factor benchmarks. Studying 399 USA takeovers consummated in the 1975-84 period, it concludes that previous findings of poor performance after takeover are likely due to benchmark errors rather than mispricing at the time of the takeover. |
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