Acquisitions Driven By Stock Overvaluation: Are They Good Deals?
Overvaluation may motivate a firm to use its stock to acquire a target whose stock is not as overpriced (Shleifer and Vishny (2003)). Though hypothetically desirable, these acquisitions in practice create little, if any, value for acquirer shareholders. Two factors often impede value creation: payme...
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Institutional Knowledge at Singapore Management University
2011
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| 在線閱讀: | https://ink.library.smu.edu.sg/lkcsb_research/3157 https://ink.library.smu.edu.sg/context/lkcsb_research/article/4156/viewcontent/FuFJCFE_10_1.pdf |
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