A Theory of Strategic Mergers
We examine firms’ strategic incentives to engage in horizontal mergers. In a real options framework, we show that strategic considerations may explain abnormally high takeover activity during periods of positive and negative demand shocks. Importantly, this pattern emerges solely as a result of firm...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2012
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/3663 https://ink.library.smu.edu.sg/context/lkcsb_research/article/4662/viewcontent/SSRN_id891311.pdf |
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| Institution: | Singapore Management University |
| Language: | English |