| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5078178 | International Journal of Industrial Organization | 2012 | 15 Pages |
Abstract
⺠We analyze a comprehensive set of listed and unlisted acquirers. ⺠Merger waves are encountered only for listed firms. ⺠The two behavioral theories, managerial discretion and overvaluation, explain merger waves. ⺠Some results are inconsistent with the overvaluation but consistent with the managerial discretion theory.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Klaus Gugler, Dennis C. Mueller, Michael Weichselbaumer,