Takeovers and the dynamics of information flows

International Journal of Industrial Organization

Volumn 22, Issue 4, 2004, Pages 575-590

  Chemla, Gilles ^a,b  

^a CEPR   (Canada)

^b RENAULT   (France)

Author keywords

Buyer; Disclosure; Information; Price; Takeovers; Value

Indexed keywords

CONSTRAINT THEORY; CONTRACTS; HAZARDS; INDUSTRIAL MANAGEMENT; MANAGERS;

BUYERS; DISCLOSURE; PRICES; TAKEOVERS; VALUES;

INFORMATION DISSEMINATION;

EID: 1842424534     PISSN: 01677187     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ijindorg.2003.11.001     Document Type: Article

References (29)

1. Agrawal A., Jaffe J. Do takeover targets underperform? Evidence from operating and stock returns. Journal of Financial and Quantitative Analysis. 38(4):2003;. (in press).
2. Baron D., Besanko D. Regulation and information in a continuing relationship. Information Economics and Policy. 1(3):1984;267-302.
3. Brown D., Ryngaert M. The mode of acquisition in takeovers: taxes and asymmetric information. Journal of Finance. 1991;653-669.
4. Chemla G. Hold-up, stakeholders, and takeover threats. Journal of Financial Intermediation mimeo THEMA (CNRS UMR 7536). 2003.
5. Chemla G. Downstream competition, foreclosure, and vertical integration. Journal of Economics and Management Strategy. 12(2):2003;261-289.
6. Chemla G., Faure-Grimaud A. Dynamic adverse selection and debt. European Economic Review. 45:2001;1773-1792.
7. Chevalier J. Do LBO supermarkets charge more? An Empirical analysis of the effects of lBOs on supermarket pricing. Journal of Finance. 50:1995;1095-1113.
8. Eckbo E., Giammarino R., Heinkel R. A symmetric information and the medium of exchange in takeovers: theory and tests. Review of Financial Studies. 3:1990;651-675.
9. Fishman M. Preemptive bidding and the role of the medium of exchange in acquisitions. Journal of Finance. 44:1989;41-58.
10. Franks, M., Maksimovic, V., 1999. Trade credit and adverse selection. Mimeo UBC and University of Maryland.
11. Freixas X., Guesnerie R., Tirole J. Planning under incomplete information and the ratchet effect. Review of Economic Studies. 52:1985;173-191.
12. Grinblatt M., Titman S. Financial Policy and Corporate Strategy. second edition:2001;McGraw Hill-Irwin, New York, USA.
13. Grossman S., Hart O. Takeovers bids, the free-rider problem, and the theory of the corporation. Bell Journal of Economics. 11:1980;42-64.
14. Habib M. Why are leveraged buyouts not permanent? European Finance Review. 1997;139-163.
15. Hart O., Tirole J. Contract renegotiation and coasian dynamics. Review of Economic Studies. 55:1988;509-540.
16. Hirshleifer D. Takeovers and asymmetric information. Jarrow R., Maksimovic V., Ziemba W. North-Holland Handbooks of Operations Research and Management Science. Finance. vol. 9:1996;839-886.
17. Jarrell G., Brickley J., Netter J. The market for corporate control: the empirical evidence since 1980. Journal of Economic Perspectives. 2(1):1988;49-68.
18. Kim E.-H., Singal V. Mergers and market power: evidence from the airline industry. American Economic Review. 83(3):1993;549-569. (June).
19. Laffont J.J., Tirole J. A Theory of Incentives in Procurement and Regulation. 1993;MIT Press, Boston, USA.
20. Lee Y., Stowe J. Product risk, asymmetric information, and trade credit. Journal of Financial and Quantitative Analysis. 28:1993;285-300.
21. Maskin E., Riley J. Monopoly with incomplete information. Rand Journal of Economics. 15:1984;171-196.
22. Nagarajan S. On the generic efficiency of takeovers under incomplete information. Journal of Economic Theory. 65:1995;522-556.
23. Petersen M., Rajan R. Trade credit: theories and evidence. Review of Financial Studies. 10:1997;661-691.
24. Phillips G. Increased debt and industry product markets: an empirical analysis. Journal of Financial Economics. 37(2):1995;189-238.
25. Rey P., Tirole J. A primer on foreclosure. Handbook of Industrial Organization. 2002;. In press.
26. Scharfstein D. The disciplinary role of takeovers. Review of Economic Studies. 55:1988;185-199.
27. Shleifer A., Summers L. Breach of Trust in Hostile Takeovers. Alan J., Auerbach Corporate Takeovers: Causes and Consequences. 1988;University of Chicago Press, New York, USA.
28. Smith J.-K. Trade credit and informational asymmetry. Journal of Finance. 42(4):1987;863-872.
29. Stein J. Takeover threats and managerial Myopia. Journal of Political Economy. 96(1):1988;61-80.