haku: @freeterm takeovers / yhteensä: 11
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| Tekijä: | Casares Field, L. Karpoff, J. M. |
| Otsikko: | Takeover defenses of IPO firms |
| Lehti: | Journal of Finance
2002 : OCT, VOL. 57:5, p. 1857-1889 |
| Asiasana: | Mergers Initial public offerings |
| Vapaa asiasana: | Acquisitions Takeovers |
| Kieli: | eng |
| Tiivistelmä: | Many firms deploy takeover defenses when they go public. IPO managers tend to deploy defenses when their compensation is high, shareholdings are small, and oversight from nonmanagerial shareholders is weak. The presence of a defence is negatively related to subsequent acquisition likelihood, yet has no impact on takeover premiums for firms that are acquired. The results suggest that managers shift the cost of takeover protection onto nonmanagerial shareholders. |
SCIMA