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Target revaluation after failed takeover attempts: Cash versus stock
16 references·16 citing·38 second hopsampled
Target revaluation after failed takeover attempts: Cash versus stock (2015)Target revaluation after failed takeover …Does Investor Misvaluation Drive the Takeover Market? (2006)Does Investor Misvaluation Dr…Valuation waves and merger activity: The empirical evidence (2005)Valuation waves and merger ac…Market Valuation and Merger Waves (2004)Market Valuation and Merger W…Stock market driven acquisitions (2003)Stock market driven acquisiti…New Evidence and Perspectives on Mergers (2001)New Evidence and Perspectives…Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk (2001)Have Individual Stocks Become…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)Market efficiency, long-term …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…Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Do Investment-Cash Flow Sensi…Detecting long-run abnormal stock returns: The empirical power and specification of test statistics (1997)Detecting long-run abnormal s…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…Does Corporate Performance Improve After Mergers? (1990)Does Corporate Performance Im…The market for corporate control (1983)The market for corporate cont…Merger bids, uncertainty, and stockholder returns (1983)Merger bids, uncertainty, and…Special Information and Insider Trading (1974)Special Information and Insid…Should I stay or should I go? Stock market reactions to companies' decisions in the wake of the Russia-Ukraine conflict (2023)Should I stay or should I go?…Shifting perspectives: How scrutiny shapes the relationship between CEO gender and acquisition activity (2023)Shifting perspectives: How sc…SPAC merger announcement returns and subsequent performance (2022)SPAC merger announcement retu…How Does Past Experience Impact Hedge Fund Activism? (2021)How Does Past Experience Impa…The Aggregate Implications of Mergers and Acquisitions (2020)The Aggregate Implications of…Managing Liquidity in Production Networks: The Role of Central Firms (2020)Managing Liquidity in Product…Limited attention and M&A announcements (2018)Limited attention and M&A ann…Inefficiencies and externalities from opportunistic acquirers (2018)Inefficiencies and externalit…Behavioral Corporate Finance (2018)Behavioral Corporate FinanceAntitrust merger review costs and acquirer lobbying (2018)Antitrust merger review costs…The Evidence on Mergers and Acquisitions: A Historical and Modern Report ✶ ✶We thank James Netter, Lauren O'Neil, and Haley O'Steen for research assistance. (2017)The Evidence on Mergers and A…Does Mandatory Shareholder Voting Prevent Bad Acquisitions? (2016)Does Mandatory Shareholder Vo…Do Stock-Financed Acquisitions Destroy Value? New Methods and Evidence (2015)Do Stock-Financed Acquisition…Contractual revisions in compensation: Evidence from merger bonuses to target CEOs (2015)Contractual revisions in comp…Return to Invested Capital and the Performance of Mergers and Acquisitions (2014)Return to Invested Capital an…Advising Shareholders in Takeovers (2011)Advising Shareholders in Take…CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)Risk, Return, and Equilibrium: Empirical Tests (1973)The Cross-Section of Expected Stock Returns (1992)On Persistence in Mutual Fund Performance (1997)Illiquidity and stock returns: cross-section and time-series effects (2002)A five-factor asset pricing model (2014)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)Using daily stock returns (1985)Capital markets research in accounting (2001)Introductory Econometrics for Finance (2008)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Corporate financing and investment decisions when firms have information that investors do not have (1984)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)The Financial Accelerator in a Quantitative Business Cycle Framework (1998)Managing with Style: The Effect of Managers on Firm Policies (2003)New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)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)A Survey of Corporate Governance (1997)Distribution of the Estimators for Autoregressive Time Series with a Unit Root (1979)Distribution of the Estimators for Autoregressive Time Series With a Unit Root (1979)The distribution of realized stock return volatility (2001)Asymmetric correlations of equity portfolios (2002)Default Risk in Equity Returns (2004)The Econometrics of Financial Markets (2012)Investor Psychology and Asset Pricing (2001)More Than Words: Quantifying Language to Measure Firms' Fundamentals (2008)Presidential Address: Discount Rates (2011)What drives merger waves? (2005)Determinants of Cross‐Border Mergers and Acquisitions (2012)Does Policy Uncertainty Affect Mergers and Acquisitions? (2016)What Do Returns to Acquiring Firms Tell Us? Evidence from Firms That Make Many Acquisitions (2002)Firm size and the gains from acquisitions (2004)Who makes acquisitions? CEO overconfidence and the market's reaction☆ (2008)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1997Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?6,790 cited
  • 1983The market for corporate control4,145 cited
  • 2001New Evidence and Perspectives on Mergers2,803 cited
  • 1997Detecting long-run abnormal stock returns: The empirical power and specification of test statistics2,690 cited
  • 1998Market 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.12,572 cited
  • 2001Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk2,419 cited
  • 2003Stock market driven acquisitions2,093 cited
  • 1990Does Corporate Performance Improve After Mergers?1,662 cited
  • 2005Valuation waves and merger activity: The empirical evidence1,287 cited
  • 1974Special Information and Insider Trading1,236 cited
  • 2004Market Valuation and Merger Waves987 cited
  • 1997Do Long‐Term Shareholders Benefit From Corporate Acquisitions?966 cited
  • 2006Does Investor Misvaluation Drive the Takeover Market?

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937 cited
  • 1983Merger bids, uncertainty, and stockholder returns922 cited
  • 1997Do Long-Term Shareholders Benefit From Corporate Acquisitions?875 cited
  • Cited by

    • 2016Does Mandatory Shareholder Voting Prevent Bad Acquisitions?92 cited
    • 2015Do Stock-Financed Acquisitions Destroy Value? New Methods and Evidence67 cited
    • 2018Behavioral Corporate Finance57 cited
    • 2022SPAC merger announcement returns and subsequent performance55 cited
    • 2023Should I stay or should I go? Stock market reactions to companies' decisions in the wake of the Russia-Ukraine conflict54 cited
    • 2020The Aggregate Implications of Mergers and Acquisitions52 cited
    • 2018Antitrust merger review costs and acquirer lobbying51 cited
    • 2018Inefficiencies and externalities from opportunistic acquirers47 cited
    • 2015Contractual revisions in compensation: Evidence from merger bonuses to target CEOs43 cited
    • 2023Shifting perspectives: How scrutiny shapes the relationship between CEO gender and acquisition activity43 cited
    • 2014Return to Invested Capital and the Performance of Mergers and Acquisitions39 cited
    • 2020Managing Liquidity in Production Networks: The Role of Central Firms39 cited
    • 2017The Evidence on Mergers and Acquisitions: A Historical and Modern Report ✶ ✶We thank James Netter, Lauren O'Neil, and Haley O'Steen for research assistance.38 cited
    • 2021How Does Past Experience Impact Hedge Fund Activism?33 cited
    • 2018Limited attention and M&A announcements30 cited
    • 2011Advising Shareholders in Takeovers27 cited