Merger waves: Are buyers following the herd or responding to structural queues?

Financial Statistical Journal

View Publication Info
 
 
Field Value
 
Title Merger waves: Are buyers following the herd or responding to structural queues?
 
Creator Sonenshine, Ralph Mark
 
Subject mergers and acquisitions; merger premium; neoclassical; behavioral
 
Description While there has been a significant amount of research covering the causes of merger waves, few papers have rank ordered merger waves based on the causes nor sought to determine which rationale leads to higher bidder payouts.  This paper seeks to fill this gap by examining a cross section of large mergers across most industries occurring over a 17 year period.  I find that merger waves over this period are caused foremost by changing economic and regulatory conditions.  It is the behavioral rationale of mispricing, however, that more often leads to higher bidder payouts or merger premiums among acquirers in merger waves. 
 
Publisher EnPress Publisher LLC
 
Contributor
 
Date 2018-09-05
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://systems.enpress-publisher.com/index.php/FSJ/article/view/971
10.24294/fsj.v1i3.971
 
Source Financial Statistical Journal; Vol 1, No 3 (Published)
2578-1960
10.24294/fsj.v1i3
 
Language eng
 
Relation https://systems.enpress-publisher.com/index.php/FSJ/article/view/971/607
 
Rights Copyright (c) 2018 Ralph Mark Sonenshine
http://creativecommons.org/licenses/by-nc/4.0
 

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