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Long Range Planning
Volumn 23, Issue 4, 1990, Pages 20-34
Value gaps-Who is right?-The raiders, the market or the managers?

(2)  Young, David a   Sutcliffe, Brigid a  

a NONE
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EID: 44949288479     PISSN: 00246301     EISSN: None     Source Type: Journal    
DOI: 10.1016/0024-6301(90)90149-X     Document Type: Article
Times cited : (8)
References (26)
  • 6
    • 84915323311 scopus 로고    scopus 로고
    • For example see Julian R. Franks, Robert S. Harris and Sheridan Titman, Life after takeover: the postmerger shareprice performance of acquiring firms, unpublished preliminary draft, November (1989). This paper reported a study of 400 U.S. takeovers consummated in the period from 1975–1984. To avoid known measurement problems it applied multi-factor bench- marks to postmerger performance and showed that, on average, U.S. buyers did not significantly lose through the acquisitions they made. The authors concluded that the apparent findings of poor performance after takeover in other studies were likely to
  • 8
    • 84915323310 scopus 로고    scopus 로고
    • summarizes the results of a number of less extensive studies of gains to bidders. They summarize the overall conclusion as ‘The evidence indicates that corporate takeovers generate positive gains, that target firm shareholders benefit, and that bidding firm shareholders do not lose.’
  • 9
    • 84924508526 scopus 로고
    • Does the stock market rationally reflect fundamental values?
    • Summers claims that share values can be quite significantly under or over-valued before this would be detectable in the tests which have been applied to the hypothesis.
    • (1986) The Journal of Finance , vol.41 , Issue.3
    • Summers1

* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.