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

Lin Lin, Jenifer Piesse, De Wai Chou

    Research output: Contribution to journalArticlepeer-review

    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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