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Determinants of Takeover Premium in Cash Offers: An Option Pricing Approach
16 references·2 citing·41 second hop
Determinants of Takeover Premium in Cash Offers: An Option Pricing Approach (2010)Determinants of Takeover Premium in Cash …CEO Overconfidence and Corporate Investment (2005)CEO Overconfidence and Corpor…Shareholder Wealth Effects of European Domestic and Cross‐border Takeover Bids (2004)Shareholder Wealth Effects of…Applied Mergers and Acquisitions (2004)Applied Mergers and Acquisiti…The Market for Corporate Control: The Scientific Evidence (2002)The Market for Corporate Cont…Glamour, value and the post-acquisition performance of acquiring firms (1998)Glamour, value and the post-a…Do Long‐Term Shareholders Benefit From Corporate Acquisitions? (1997)Do Long‐Term Shareholders Ben…Do Long-Term Shareholders Benefit From Corporate Acquisitions? (1997)Do Long-Term Shareholders Ben…Markup pricing in mergers and acquisitions (1996)Markup pricing in mergers and…The Returns to Acquiring Firms in Tender Offers: Evidence from Three Decades (1989)The Returns to Acquiring Firm…Corporate takeovers: causes and consequences (1989)Corporate takeovers: causes a…Synergistic gains from corporate acquisitions and their division between the stockholders of target and acquiring firms (1988)Synergistic gains from corpor…Target abnormal returns associated with acquisition announcements: Payment, acquisition form, and managerial resistance (1987)Target abnormal returns assoc…Corporate Takeover Bids, Methods of Payment, and Bidding Firms' Stock Returns (1987)Corporate Takeover Bids, Meth…The Hubris Hypothesis of Corporate Takeovers (1986)The Hubris Hypothesis of Corp…The market for corporate control (1983)The market for corporate cont…Risk measurement when shares are subject to infrequent trading (1979)Risk measurement when shares …What drives the allocation of the purchase price to goodwill? (2015)What drives the allocation of…Home country macroeconomic factors on outward cross-border mergers and acquisitions: Evidence from the UK (2013)Home country macroeconomic fa…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)An Empirical Evaluation of Accounting Income Numbers (1968)Risk, Return, and Equilibrium: Empirical Tests (1973)Using daily stock returns (1985)R2 around the world: New theory and new tests☆ (2005)Corporate financing and investment decisions when firms have information that investors do not have (1984)The Cross-Section of Expected Stock Returns (1992)Market efficiency, long-term returns, and behavioral finance1The comments of Brad Barber, David Hirshleifer, S.P. Kothari, Owen Lamont, Mark Mitchell, Hersh Shefrin, Robert Shiller, Rex Sinquefield, Richard Thaler, Theo Vermaelen, Robert Vishny, Ivo Welch, and a referee have been helpful. Kenneth French and Jay Ritter get special thanks.1 (1998)Does the stock market fully value intangibles? Employee satisfaction and equity prices (2011)A five-factor asset pricing model (2014)Judgment under Uncertainty: Heuristics and Biases (1975)The Framing of Decisions and the Psychology of Choice (1981)Efficient Capital Markets: II (1991)A Survey of Corporate Governance (1997)Takeover Bids, The Free-Rider Problem, and the Theory of the Corporation (1980)Large Shareholders and Corporate Control (1986)Firms, Contracts, and Financial Structure (1995)Firm size and the gains from acquisitions (2004)A review of tax research (2010)Efficient Capital Markets: A Review of Theory and Empirical Work (1970)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Hostility in Takeovers: In the Eyes of the Beholder? (2000)Do Insiders Learn from Outsiders? Evidence from Mergers and Acquisitions (2005)Globalizing the boardroom—The effects of foreign directors on corporate governance and firm performance (2012)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Do outside directors monitor managers? (1992)Meta‐analyses of post‐acquisition performance: indications of unidentified moderators (2003)Wealth Destruction on a Massive Scale? A Study of Acquiring‐Firm Returns in the Recent Merger Wave (2005)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Separation of Ownership and Control (1983)Management ownership and market valuation (1988)Agency Theory: An Assessment and Review (1989)Common risk factors in the returns on stocks and bonds (1993)Detecting long-run abnormal stock returns: The empirical power and specification of test statistics (1997)Capital markets research in accounting (2001)Investor Psychology and Asset Pricing (2001)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)The Pricing of Options and Corporate Liabilities (1973)Who makes acquisitions? CEO overconfidence and the market's reaction☆ (2008)Depression Babies: Do Macroeconomic Experiences Affect Risk Taking?* (2011)… and the Cross-Section of Expected Returns (2015)
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References

  • 1983The market for corporate control4,145 cited
  • 1986The Hubris Hypothesis of Corporate Takeovers3,764 cited
  • 2005CEO Overconfidence and Corporate Investment3,686 cited
  • 1979Risk measurement when shares are subject to infrequent trading2,767 cited
  • 1988Synergistic gains from corporate acquisitions and their division between the stockholders of target and acquiring firms1,702 cited
  • 1987Corporate Takeover Bids, Methods of Payment, and Bidding Firms' Stock Returns1,408 cited
  • 1998Glamour, value and the post-acquisition performance of acquiring firms1,067 cited
  • 1997Do Long‐Term Shareholders Benefit From Corporate Acquisitions?966 cited
  • 1997Do Long-Term Shareholders Benefit From Corporate Acquisitions?875 cited
  • 1996Markup pricing in mergers and acquisitions811 cited
  • 2002The Market for Corporate Control: The Scientific Evidence770 cited
  • 1989Corporate takeovers: causes and consequences647 cited
  • 2004Shareholder Wealth Effects of European Domestic and Cross‐border Takeover Bids486 cited
  • 1987Target abnormal returns associated with acquisition announcements: Payment, acquisition form, and managerial resistance459 cited
  • 1989The Returns to Acquiring Firms in Tender Offers: Evidence from Three Decades

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447 cited
  • 2004Applied Mergers and Acquisitions421 cited
  • Cited by

    • 2013Home country macroeconomic factors on outward cross-border mergers and acquisitions: Evidence from the UK50 cited
    • 2015What drives the allocation of the purchase price to goodwill?30 cited