Does ownership affect the long-term performance of the acquiring firms?
碩士 === 元智大學 === 財務金融學系 === 98 === This paper investigate the relationship between acquirer’s ownership and their long-term post-merger performance in merger cases, for a sample of 409 U.S merger cases in the period 1992-2006, we find a nonlinear relationship between acquirer’s ownership and their lo...
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| Format: | Others |
| Language: | en_US |
| Published: |
2010
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| Online Access: | http://ndltd.ncl.edu.tw/handle/85495780169948655593 |
| Summary: | 碩士 === 元智大學 === 財務金融學系 === 98 === This paper investigate the relationship between acquirer’s ownership and their long-term post-merger performance in merger cases, for a sample of 409 U.S merger cases in the period 1992-2006, we find a nonlinear relationship between acquirer’s ownership and their long-term post-merger performance, and also find that not-100% holding acquirers will perform better than the acquirers with 100% holding after mergers, the results indicate that 100% holding would not be the best policy for acquirers in merger cases and sharing some ownership to target firms is more lucrative to acquirers than 100% takeover.
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