Gugler, Klaus, Mueller, Dennis C., Weichselbaumer, Michael. 2012. The determinants of merger waves: An international perspective. International Journal of Industrial Organization 30 (1), 1-15.
BibTeX
Abstract
One of the most conspicuous features of mergers is that they come in waves that are correlated with increases in share prices and price/earnings ratios. We use a natural way to discriminate between pure stock market in fluences on firm decisions and other influences by examining merger patterns for both listed and unlisted firms. If "real" changes in the economy drive merger waves, as some neoclassical theories of mergers predict, both listed and unlisted firms should experience waves. We find significant differences between listed and unlisted firms as predicted by behavioral theories of merger waves.
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Status of publication | Published |
---|---|
Affiliation | WU |
Type of publication | Journal article |
Journal | International Journal of Industrial Organization |
Citation Index | SSCI |
WU Journalrating 2009 | A |
WU-Journal-Rating new | FIN-A, STRAT-B, VW-B, WH-B |
Language | English |
Title | The determinants of merger waves: An international perspective |
Volume | 30 |
Number | 1 |
Year | 2012 |
Page from | 1 |
Page to | 15 |
Reviewed? | Y |
DOI | http://dx.doi.org/10.1016/j.ijindorg.2011.04.006 |
JEL | JEL: L2,G3 |
Associations
- People
- Gugler, Klaus (Details)
- Weichselbaumer, Michael (Former researcher)
- External
- Mueller, Dennis C. (University of Vienna, Austria)
- Organization
- Department of Economics (Gugler) (Details)
- Research areas (Ă–STAT Classification 'Statistik Austria')
- 5370 Industrial economics (Details)