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A Test of Allocational Market Efficiency in Takeovers Using Tobin's q Theory of Investment

Description: The primary purpose of the study was to investigate whether takeover markets are allocationally efficient using Tobin's q as the variable which summarizes the investment opportunities of firms. Chapter I presented the purposes, hypotheses, methodology, and limitations of the study. The two hypotheses proposed were as follows: Acquiring firms' q should be significantly higher than that of control firms, on average, and target firms' q should be significantly lower than that of control firms, on … more
Date: May 1987
Creator: Kim, Keeho
Partner: UNT Libraries
open access

Volume and Performance of Convertible Preferred Stocks Used in Mergers: 1968-1984

Description: This study provides information about convertible preferreds generally and, in particular, those used in financing mergers during the period 1968-1984. Specifically, the following topics are examined: (1) traditional corporate motives for the use of convertible preferreds as a financing means in mergers and acquisitions, (2) annual data about convertible preferreds' issuance by volume and purpose for the period 1968-1984, (3) average annual returns of merger-related convertible preferreds and a… more
Date: May 1987
Creator: Nijim, Monther M.
Partner: UNT Libraries
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