Mergers, Method of Payment and Returns to Manager- and Owner-Controlled Firms

Autor:	Virginia L. Blackburn, Frederick H. Dark, Robert C. Hanson
Rok vydání:	1997
Předmět:	Finance Economics and Econometrics business.industry Cash media_common.quotation_subject Business Payment Market value Stock (geology) Industrial organization media_common
Zdroj:	The Financial Review. 32:569-589
ISSN:	1540-6288 0732-8516
DOI:	10.1111/j.1540-6288.1997.tb00439.x
Popis:	Previous work provides evidence of disparate consequences for acquiring firms initiating stock and cash merger exchanges. These studies show that the choice of payment method and the subsequent consequences may be a result of dissimilar motivations. This paper addresses the role of corporate control by examining the consequences of stock, cash and mixed exchanges to manager- and owner-controlled firms. Particular attention is paid to mixed exchanges as a test of the total consequences of acquisition activity. The results indicate that the market valuation of the acquiring firm's stock is related to both the method of payment and the acquiring firm control structure.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::deb112671a7b8bf0377e41392efcd575 https://doi.org/10.1111/j.1540-6288.1997.tb00439.x Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
Nepřihlášeným uživatelům se plný text nezobrazuje	K zobrazení výsledku je třeba se přihlásit.