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Takeover Activity as a Response to Time‐Varying Changes in Investment Opportunity Sets: Evidence from Takeover Sequences
16 references·13 citing·37 second hop
Takeover Activity as a Response to Time‐Varying Changes in Investment Opportunity Sets: Evidence from Takeover Sequences (2007)Takeover Activity as a Response to Time‐V…What drives merger waves? (2005)What drives merger waves?Wealth Destruction on a Massive Scale? A Study of Acquiring‐Firm Returns in the Recent Merger Wave (2005)Wealth Destruction on a Massi…Valuation waves and merger activity: The empirical evidence (2005)Valuation waves and merger ac…Agency Costs of Overvalued Equity (2005)Agency Costs of Overvalued Eq…Market Valuation and Merger Waves (2004)Market Valuation and Merger W…Stock market driven acquisitions (2003)Stock market driven acquisiti…What Do Returns to Acquiring Firms Tell Us? Evidence from Firms That Make Many Acquisitions (2002)What Do Returns to Acquiring …Corporate Cash Reserves and Acquisitions (1999)Corporate Cash Reserves and A…Glamour, value and the post-acquisition performance of acquiring firms (1998)Glamour, value and the post-a…Industry costs of equity (1997)Industry costs of equityThe impact of industry shocks on takeover and restructuring activity (1996)The impact of industry shocks…Detecting abnormal operating performance: The empirical power and specification of test statistics (1996)Detecting abnormal operating …Agency costs of free cash flow, corporate finance, and takeovers (1996)Agency costs of free cash flo…Does Corporate Performance Improve After Mergers? (1990)Does Corporate Performance Im…The Hubris Hypothesis of Corporate Takeovers (1986)The Hubris Hypothesis of Corp…Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)Agency Costs of Free Cash Flo…Stock liquidity, empire building, and valuation (2021)Stock liquidity, empire build…Learning‐by‐doing: the experience effect in mergers and acquisitions (2021)Learning‐by‐doing: the experi…Revisiting acquirer returns: Evidence from unanticipated deals (2020)Revisiting acquirer returns: …Mergers, CEO Hubris, and Cost Stickiness (2015)Mergers, CEO Hubris, and Cost…Leverage adjustment after mergers and acquisitions (2015)Leverage adjustment after mer…Skill differences in corporate acquisitions (2013)Skill differences in corporat…The performance of frequent acquirers: Evidence from emerging markets (2012)The performance of frequent a…Are Good Performers Bad Acquirers? (2012)Are Good Performers Bad Acqui…Comparative historical analysis of four UK hotel companies, 1979‐2004 (2011)Comparative historical analys…Buy Smart, Time Smart: Are Takeovers Driven by Growth Opportunities or Mispricing? (2011)Buy Smart, Time Smart: Are Ta…An Anatomy of Serial Acquirers, M&A Learning, and the Role of Post-Merger Integration (2011)An Anatomy of Serial Acquirer…Mergers and Acquisitions (2010)Mergers and AcquisitionsCorporate Serial Acquisitions: An Empirical Test of the Learning Hypothesis (2006)Corporate Serial Acquisitions…The market for corporate control (1983)Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have (1984)New Evidence and Perspectives on Mergers (2001)Firm size and the gains from acquisitions (2004)Who makes acquisitions? CEO overconfidence and the market's reaction☆ (2008)Synergistic gains from corporate acquisitions and their division between the stockholders of target and acquiring firms (1988)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders (1996)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Multifactor Explanations of Asset Pricing Anomalies (1996)Measuring Mutual Fund Performance with Characteristic‐Based Benchmarks (1997)Conditional Skewness in Asset Pricing Tests (2000)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Determinants of corporate borrowing (1977)Managerial Decisions and Long‐Term Stock Price Performance (2000)Corporate social responsibility and stakeholder value maximization: Evidence from mergers (2013)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)CEO Overconfidence and Corporate Investment (2005)Using daily stock returns (1985)The effects of management buyouts on operating performance and value (1989)Size and Book-to-Market Factors in Earnings and Returns (1995)Measuring long-horizon security price performance (1997)An Examination of Long‐Term Abnormal Stock Returns and Operating Performance Following R&D Increases (2004)Dumb money: Mutual fund flows and the cross-section of stock returns (2008)GROWTH, BETA AND AGENCY COSTS AS DETERMINANTS OF DIVIDEND PAYOUT RATIOS (1982)Two Agency-Cost Explanations of Dividends (1984)Corporate performance and managerial remuneration (1985)What Do We Know about Capital Structure? Some Evidence from International Data (1995)Corporate financing and investment decisions when firms have information that investors do not have (1984)The Cash Flow Sensitivity of Cash (2004)Over-investment of free cash flow (2006)Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)
this work references cited by second hop

References

  • 1986Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers17,216 cited
  • 1996Agency costs of free cash flow, corporate finance, and takeovers9,308 cited
  • 1997Industry costs of equity5,793 cited
  • 1986The Hubris Hypothesis of Corporate Takeovers3,764 cited
  • 2003Stock market driven acquisitions2,093 cited
  • 1999Corporate Cash Reserves and Acquisitions2,066 cited
  • 2002What Do Returns to Acquiring Firms Tell Us? Evidence from Firms That Make Many Acquisitions1,743 cited
  • 1990Does Corporate Performance Improve After Mergers?1,662 cited
  • 1996Detecting abnormal operating performance: The empirical power and specification of test statistics1,609 cited
  • 1996The impact of industry shocks on takeover and restructuring activity1,512 cited
  • 2005What drives merger waves?1,509 cited
  • 2005Wealth Destruction on a Massive Scale? A Study of Acquiring‐Firm Returns in the Recent Merger Wave1,421 cited
  • 2005Valuation waves and merger activity: The empirical evidence1,287 cited
  • 1998Glamour, value and the post-acquisition performance of acquiring firms1,067 cited
  • 2005Agency Costs of Overvalued Equity1,003 cited

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  • 2004Market Valuation and Merger Waves987 cited
  • Cited by

    • 2020Revisiting acquirer returns: Evidence from unanticipated deals71 cited
    • 2015Mergers, CEO Hubris, and Cost Stickiness47 cited
    • 2012Are Good Performers Bad Acquirers?39 cited
    • 2013Skill differences in corporate acquisitions37 cited
    • 2012The performance of frequent acquirers: Evidence from emerging markets36 cited
    • 2021Learning‐by‐doing: the experience effect in mergers and acquisitions22 cited
    • 2021Stock liquidity, empire building, and valuation22 cited
    • 2011Buy Smart, Time Smart: Are Takeovers Driven by Growth Opportunities or Mispricing?22 cited
    • 2011An Anatomy of Serial Acquirers, M&A Learning, and the Role of Post-Merger Integration19 cited
    • 2006Corporate Serial Acquisitions: An Empirical Test of the Learning Hypothesis18 cited
    • 2015Leverage adjustment after mergers and acquisitions17 cited
    • 2011Comparative historical analysis of four UK hotel companies, 1979‐200417 cited
    • 2010Mergers and Acquisitions16 cited