Filetype pdf stock market driven acquisitions

Please note that Internet Explorer version 8. Please refer to this blog post for more information. We present a model of mergers and acquisitions based on stock market misvaluations of the combining firms. The key ingredients of the model are the relative valuations of the merging firms and the market's perception of the synergies from the combination.

The model explains who acquires whom, the choice of the medium of payment, the valuation consequences of mergers, and merger waves. The model is consistent with available empirical findings about characteristics and returns of merging firms, and yields new predictions as well.

Filetype pdf stock market driven acquisitions Books Register Sign in Sign in using your ScienceDirect credentials Username.

Forgotten username or password? Sign in via your institution OpenAthens Other institution Recent Institutions. Sign in using your ScienceDirect credentials Username.

Stock Market Driven Acquisitions

JavaScript is disabled on your browser. Please enable JavaScript to use all the features on this page.

Journal of Financial Economics Volume 70, Issue 3DecemberPages Author links open the author workspace. Opens the author workspace Opens the author workspace a. Numbers how does craigslist make money quora letters correspond to the affiliation list.

Click to expose these in author workspace Robert W. Click to expose these in author workspace a Department of Economics, Harvard University, Littauer Center, Cambridge, MAUSA b University of Chicago, Graduate School of Business, East 58th Street, Chicago, ILUSA. Abstract We present a model of mergers and acquisitions based on stock market misvaluations of the combining firms. Check if you have access through your login credentials or your institution. Elsevier About ScienceDirect Remote access Shopping cart Contact and support Terms and conditions Privacy policy.

Cookies are used by this site. For more information, visit the cookies page.