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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
Item Type: Refine your search to only Thesis or Dissertation
Partner: UNT Libraries
open access

A Theory of the Role of Medium of Exchange in Mergers and Acquisitions

Description: An acquisition bid is like any other proposal for risky investment. The difference arises due to additional source of risk arising from two different sources of information asymmetry due to private knowledge held by the bidder and target. We hypothesize that the bidding process evolves in a manner to optimize bidder's investment in the target through a process of joint signalling. Medium of exchange and bid premium are used as the two signal elements simultaneously by the bidder. We develop a m… more
Date: May 1994
Creator: Tiwari, Rajesh Kumar
Item Type: Refine your search to only Thesis or Dissertation
Partner: UNT Libraries
open access

Determinants of Outbound Cross-border Mergers and Acquisitions by Emerging Asian Acquirers

Description: This dissertation identifies key determinants of outbound cross-border mergers and acquisitions (M&As) by emerging Asian acquirers during 2001-2012. Using a zero-inflated model that takes into account different mechanisms governing country pairs that never engage in cross-border M&As and country pairs that actively participate in cross-border M&As, I uncover unique patterns for emerging Asian acquirers. Emerging Asian acquirers originate from countries with lower corporate tax rates than thos… more
Date: August 2014
Creator: Punurai, Somrat
Item Type: Refine your search to only Thesis or Dissertation
Partner: UNT Libraries
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