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The determinants of positive long-term performance in strategic mergers: Corporate focus and cash
16 references·16 citing·41 second hopsampled
The determinants of positive long-term performance in strategic mergers: Corporate focus and cash (2003)The determinants of positive long-term pe…Managerial Decisions and Long‐Term Stock Price Performance (2000)Managerial Decisions and Long…Improved Methods for Tests of Long‐Run Abnormal Stock Returns (1999)Improved Methods for Tests of…Glamour, value and the post-acquisition performance of acquiring firms (1998)Glamour, value and the post-a…Detecting long-run abnormal stock returns: The empirical power and specification of test statistics (1997)Detecting long-run abnormal s…Detecting abnormal operating performance: The empirical power and specification of test statistics (1996)Detecting abnormal operating …Diversification's effect on firm value (1995)Diversification's effect on f…Corporate focus and stock returns (1995)Corporate focus and stock ret…Tobin's q, Corporate Diversification, and Firm Performance (1994)Tobin's q, Corporate Diversif…A Simple Approximation of Tobin's q (1994)A Simple Approximation of Tob…Common risk factors in the returns on stocks and bonds (1993)Common risk factors in the re…The Post-Merger Performance of Acquiring Firms: A Re-Examination of an Anomaly (1992)The Post-Merger Performance o…Does Corporate Performance Improve After Mergers? (1990)Does Corporate Performance Im…Do Managerial Objectives Drive Bad Acquisitions? (1990)Do Managerial Objectives Driv…Valuation effects of security offerings and the issuance process (1986)Valuation effects of security…Diversification strategy, profit performance and the entropy measure (1985)Diversification strategy, pro…Diversification strategy and profitability (1982)Diversification strategy and …Host Country's carbon emission and cross-border M&A performance: Evidence from listed enterprises in China (2021)Host Country's carbon emissio…Bequest motive, information transparency, and family firm value: A natural experiment (2020)Bequest motive, information t…The financial crisis, acquisition premiums and the moderating effect of CEO power (2017)The financial crisis, acquisi…Mergers and acquisitions in Germany: 1981–2010 (2017)Mergers and acquisitions in G…Business intelligence as a key information and knowledge tool for strategic business performance management (2016)Business intelligence as a ke…Untangling micro-behavioral sources of failure in mergers and acquisitions: a theoretical integration and extension (2015)Untangling micro-behavioral s…Creating or destroying value through mergers and acquisitions: A marketing perspective (2015)Creating or destroying value …The incidence of earnings management on information asymmetry in an uncertain environment: Some Canadian evidence (2013)The incidence of earnings man…Fire sale acquisitions: Myth vs. reality (2010)Fire sale acquisitions: Myth …Operating performance changes associated with corporate mergers and the role of corporate governance (2009)Operating performance changes…Rebranding in the banking industry following mergers and acquisitions (2008)Rebranding in the banking ind…How Much Is Too Much: Are Merger Premiums Too High? (2007)How Much Is Too Much: Are Mer…Divergence of Opinion and Post‐Acquisition Performance (2007)Divergence of Opinion and Pos…Bidder Gains and Losses of Firms Involved in Many Acquisitions (2007)Bidder Gains and Losses of Fi…Long-term performance following mergers of Japanese companies: The effect of diversification and affiliation (2006)Long-term performance followi…Board Share‐Ownership and Takeover Performance (2006)Board Share‐Ownership and Tak…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)Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders (1996)New Evidence and Perspectives on Mergers (2001)Determinants of corporate borrowing (1977)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Higher market valuation of companies with a small board of directors (1996)Investor Protection and Corporate Valuation (2002)Digital Business Strategy: Toward a Next Generation of Insights (2013)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)Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency (1993)Do Investors Trade Too Much? (1999)The Economic Costs of Conflict: A Case Study of the Basque Country (2003)The Nature of the Firm (1937)Financing Constraints and Corporate Investment (1987)A Survey of Corporate Governance (1997)Enjoying the Quiet Life? Corporate Governance and Managerial Preferences (2003)Risk Reduction as a Managerial Motive for Conglomerate Mergers (1981)The Hubris Hypothesis of Corporate Takeovers (1986)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)Efficient Capital Markets: A Review of Theory and Empirical Work (1970)The Equity Share in New Issues and Aggregate Stock Returns (2000)Chapter 18 A survey of behavioral finance (2003)Market liquidity as a sentiment indicator (2004)Corporate Governance, Board Diversity, and Firm Value (2003)How do family ownership, control and management affect firm value? (2005)Boards: Does one size fit all☆ (2007)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)Capital markets research in accounting (2001)Introductory Econometrics for Finance (2008)
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References

  • 1993Common risk factors in the returns on stocks and bonds26,615 cited
  • 1995Diversification's effect on firm value3,069 cited
  • 1997Detecting long-run abnormal stock returns: The empirical power and specification of test statistics2,690 cited
  • 1994A Simple Approximation of Tobin's q2,458 cited
  • 1994Tobin's q, Corporate Diversification, and Firm Performance2,437 cited
  • 1990Do Managerial Objectives Drive Bad Acquisitions?1,912 cited
  • 1999Improved Methods for Tests of Long‐Run Abnormal Stock Returns1,826 cited
  • 1990Does Corporate Performance Improve After Mergers?1,662 cited
  • 1996Detecting abnormal operating performance: The empirical power and specification of test statistics1,609 cited
  • 2000Managerial Decisions and Long‐Term Stock Price Performance1,573 cited
  • 1985Diversification strategy, profit performance and the entropy measure1,572 cited
  • 1982Diversification strategy and profitability1,373 cited
  • 1986Valuation effects of security offerings and the issuance process1,213 cited
  • 1992The Post-Merger Performance of Acquiring Firms: A Re-Examination of an Anomaly1,199 cited
  • 1995Corporate focus and stock returns1,078 cited

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  • 1998Glamour, value and the post-acquisition performance of acquiring firms1,067 cited
  • Cited by

    • 2009Operating performance changes associated with corporate mergers and the role of corporate governance92 cited
    • 2007How Much Is Too Much: Are Merger Premiums Too High?88 cited
    • 2013The incidence of earnings management on information asymmetry in an uncertain environment: Some Canadian evidence72 cited
    • 2007Bidder Gains and Losses of Firms Involved in Many Acquisitions69 cited
    • 2015Creating or destroying value through mergers and acquisitions: A marketing perspective66 cited
    • 2006Long-term performance following mergers of Japanese companies: The effect of diversification and affiliation65 cited
    • 2008Rebranding in the banking industry following mergers and acquisitions64 cited
    • 2015Untangling micro-behavioral sources of failure in mergers and acquisitions: a theoretical integration and extension58 cited
    • 2006Board Share‐Ownership and Takeover Performance57 cited
    • 2016Business intelligence as a key information and knowledge tool for strategic business performance management49 cited
    • 2010Fire sale acquisitions: Myth vs. reality48 cited
    • 2017The financial crisis, acquisition premiums and the moderating effect of CEO power41 cited
    • 2017Mergers and acquisitions in Germany: 1981–201040 cited
    • 2021Host Country's carbon emission and cross-border M&A performance: Evidence from listed enterprises in China39 cited
    • 2007Divergence of Opinion and Post‐Acquisition Performance35 cited
    • 2020Bequest motive, information transparency, and family firm value: A natural experiment30 cited