Managerial Finance: Volume 15 Issue 4

A REVIEW OF THE THEORIES OF AND EVIDENCE ON RETURNS RELATED TO MERGERS AND TAKEOVERS.

Ike Mathur, Soumendra De

The market for mergers and takeovers, often referred to as the market for corporate control [Manne (1965)], has always attracted the attention of investors and researchers because…

ASSET‐SALES‐INDUCED ABNORMAL RETURNS OFACQUIRING FIRMS

Soumendra De, Ike Mathur, Nanda Rangan

The empirical evidence on mergers and takeovers indicates that positive gains due to mergers and takeovers ac‐crue almost entirely to the target firms. While average abnormal…

THE TAKEOVER MECHANISM AS AN EFFICIENCY ENFORCER: THE CASE OF BANK HOLDING COMPANIES.

Nanda Rangan

The importance of the market for corporate control as a disciplining device has received considerable research interest in recent years. Since the advent of event study…

SHAREHOLDER RETURNS FOR INTERNATIONALMERGERS IN THE U.S.

Ike Mathur, Indudeep Chhachhi, Sridhar Sundaram

The number of mergers in the U.S.A. increased from 2,339 in 1983 to 3,701 in 1987—an increase of 58.23 per cent. Over the same time period the value of mergers increased from…

CORPORATE COMBINATIONS OR FAILED ACQUISITION ATTEMPTS: PARTIAL ACQUISITIONS BY POSNER AND NON‐POSNER FIRMS.

Stuart Rosenstein

Corporate control is assumed to rest in management's hands in firms with widely dispersed share ownership, but ownership of a relatively small block of shares may be sufficient to…

DO STOCK MARKET PRICES AFFECT MERGERS?

Subhash C. Sharma, Ike Mathur

Merger activities and stock market prices tend to vary over time. An interesting issue is whether changes in stock market prices stimulate changes in merger activities, or vice…