haku: @author Gilbert, E. W. / yhteensä: 2
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| Tekijä: | Gilbert, E. W. Lyn, E. O. |
| Otsikko: | The impact of target managerial resistance on the shareholder of bidding firms |
| Lehti: | Journal of Business Finance and Accounting
1990 : AUTUMN, VOL. 17:4, p. 497-510 |
| Asiasana: | BIDDING COMPANIES SHAREHOLDERS MERGERS MANAGERS INDIVIDUAL BEHAVIOUR |
| Kieli: | eng |
| Tiivistelmä: | It is investigated whether abnormal returns earned by bidding firms around the merger announcement are related to the degree of managerial resistance by target firs. Results indicate that the difference in the abnormal returns of bidding firms between hostile and friendly mergers is significant during the announcement month, during the twelve-month pre-announcement period, and during the six-month post-announcement period. The findings show that it is possible to unravel the mixed results achieved by previous merger studies regarding gains of bidding firms by identifying more homogeneous subsamples of mergers. |
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