LARGE SHAREHOLDERS, TAKEOVERS AND TARGET VALUATION

Journal of Business Finance and Accounting - Tập 23 Số 2 - Trang 295-314 - 1996
Sudi Sudarsanam1
1The author is Senior Lecturer in Finance and Accounting, City University Business School, London. This study was supported by the award of a Research Fellowship in 1993–94 by the Leverhulme Trust. The author is grateful to the Trust for the grant. The paper has benefited from the comments of Pat Fraser, Peter Pope, Richard Taffler and the participants at the Capital Markets Research Conference at Grasmere in May 1995. Special thanks go to Jimmy Lai for his valuable research assistance, and also to Ash Mahate, Rajiv Ishwariah, Majid Shenouda, Lionel Fortune, Ayo Salami and George Cachalis for their help during the study.

Tóm tắt

Từ khóa


Tài liệu tham khảo

10.1016/0378-4266(92)90081-A

10.2307/2330821

10.1002/smj.4250140904

10.1016/0304-405X(88)90047-5

10.1016/0304-405X(80)90002-1

10.2307/2331214

Choudhry B., 1994, Pre‐tender Offer Share Acquisition Strategy in Takeovers, Journal of Financial and Quantitative Analysis, 29

10.1177/031289628701200103

10.1086/261354

10.1016/0304-405X(86)90008-5

10.1111/j.1540-6261.1975.tb01054.x

10.1016/0378-4266(78)90007-9

10.1016/0304-405X(89)90057-3

10.2307/3003400

10.1086/261679

Hoffmeister J.R.andE.A.Dyl(1981) ‘Predicting Outcomes of Cash Tender Offers’ Financial Management(Winter) pp.50–58.

10.1016/0304-405X(85)90026-1

Hughes A., 1993, European Mergers and Merger Policy

10.1016/0304-405X(87)90032-8

10.1257/jep.2.1.49

10.1016/0304-405X(76)90026-X

10.1016/0304-405X(83)90004-1

Kothari S.P.andC.E.Wansley(1989) ‘Measuring Security Price Performance in Size‐clustered Samples’ Accounting Review(April).

Madden, 1980, Potential Corporate Takeovers and Market Efficiency: A Note, Journal of Finance, 10.1111/j.1540-6261.1981.tb01086.x

10.1016/0304-405X(85)90016-9

10.1016/0304-405X(85)90025-X

10.1016/0304-405X(88)90046-3

Shleifer A., 1986, Large Shareholders and Corporate Control, Journal of Political Economy, 94

Stulz R.M., 1990, The Distribution of Target's Ownership and the Division of Gains from Successful Takeovers, Journal of Finance, 10.1111/j.1540-6261.1990.tb05107.x

Sudarsanam P.S., 1995, The Essence of Mergers and Acquisitions

10.1111/j.1468-036X.1995.tb00018.x

Sudarsanam P.S. P.HollandA.R.Salami(1996) ‘Shareholder Wealth Gains in Mergers: Effect of Synergy and Ownership Structure’ Journal of Business Finance & Accounting(forthcoming).

10.2307/2330762

10.2469/faj.v41.n1.27