Acquiring firm characteristics and stock market efficiency: A case study approach

Lin Lin, Jenifer Piesse, De Wai Chou

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

Previous studies have considered the market for corporate control, but have tended to assume that this is a strategy undertaken by financially robust acquiring firms. This paper provides five case studies that reflect that both acquirers and targets have differing financial characteristics. In depth examination has found that the ambiguous results in the literature are due to a lack of understanding of the complexity and diversity of takeover participants. These results indicate that while the market is efficient, there are a number of different effects of takeover that relate to the diverse nature of firms and their environment.

Original languageEnglish
Pages (from-to)576-598
Number of pages23
JournalInternational Journal of Services, Technology and Management
Volume6
Issue number6
DOIs
Publication statusPublished - 2005 Dec 1

Keywords

  • Bankruptcy prediction
  • Conditional probability analysis
  • Efficient markets
  • Takeovers

ASJC Scopus subject areas

  • Engineering(all)
  • Computer Science Applications
  • Strategy and Management
  • Marketing

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