کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5085211 1477947 2008 8 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Short CommunicationA note on takeover success prediction
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Short CommunicationA note on takeover success prediction
چکیده انگلیسی

A takeover success prediction model attempts to use information that is publicly available at the time of the announcement in order to predict the probability that a takeover attempt will succeed. This paper develops a takeover success prediction model by comparing two techniques: the traditional logistic regression model and the artificial neural network technology. To alleviate the problem of bias from the sampling variation, we validate our results through re-sampling. Our empirical results indicate that 1). Arbitrage spread, target resistance, deal structure and transaction size are the dominating factors that have impacts on the outcome of a takeover attempt. 2). Neural network model outperforms logistic regression in predicting failed takeover attempts and performs as well as logistic regression in predicting successful takeover attempts.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Financial Analysis - Volume 17, Issue 5, December 2008, Pages 1186-1193
نویسندگان
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