Advanced Search
MyIDEAS: Login to save this paper or follow this series

Takeovers in the '60s and the '80s: Evidence and Implications

Contents:

Author Info

  • Shleifer, Andrei
  • Vishny, Robert W.

Abstract

This paper reviews the evidence on takeover waves of the 1960s and 1980s, and discusses the implications of this evidence for corporate strategy, agency theory, capital market efficiency, and antitrust policy. We conclude that antitrust policy played an important role in the two takeover waves, and that the wave of the ';60s presents a problem for efficient capital markets.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://dash.harvard.edu/bitstream/handle/1/10498058/takeovers_60s_80s.pdf
Download Restriction: no

Bibliographic Info

Paper provided by Harvard University Department of Economics in its series Scholarly Articles with number 10498058.

as in new window
Length:
Date of creation: 1991
Date of revision:
Publication status: Published in Strategic Management Journal
Handle: RePEc:hrv:faseco:10498058

Contact details of provider:
Postal: Littauer Center, Cambridge, MA 02138
Phone: 617-495-2144
Fax: 617-495-7730
Web page: http://www.economics.harvard.edu/
More information through EDIRC

Related research

Keywords:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Ben Kedia & Debmalya Mukherjee & Somnath Lahiri, 2006. "Indian business groups: Evolution and transformation," Asia Pacific Journal of Management, Springer, Springer, vol. 23(4), pages 559-577, December.
  2. Fukui, Yoshitaka & Ushijima, Tatsuo, 2007. "Corporate diversification, performance, and restructuring in the largest Japanese manufacturers," Journal of the Japanese and International Economies, Elsevier, vol. 21(3), pages 303-323, September.
  3. Hélène Rainelli-Le Montagner, 2008. "Finance d'entreprise:voix nouvelles et nouvelles voies," Revue Finance Contrôle Stratégie, revues.org, revues.org, vol. 11(Special), pages 291-313, June.
  4. Park, Choelsoon & Kim, Seonghoon, 2008. "Corporate governance, regulatory changes, and corporate restructuring in Korea, 1993-2004," Journal of World Business, Elsevier, Elsevier, vol. 43(1), pages 66-84, January.
  5. Martynova, Marina & Renneboog, Luc, 2008. "A century of corporate takeovers: What have we learned and where do we stand?," Journal of Banking & Finance, Elsevier, Elsevier, vol. 32(10), pages 2148-2177, October.
  6. Nenova, Tatiana, 2006. "Takeover laws and financial development," Policy Research Working Paper Series 4029, The World Bank.
  7. Nicolai J. Foss & Peter G. Klein, 2005. "The Theory of the Firm and Its Critics A Stocktaking and Assessment," DRUID Working Papers 05-03, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
  8. Peter G. Klein, 1997. "Were the Acquisitive Conglomerates Inefficient?," Industrial Organization, EconWPA 9711001, EconWPA, revised 04 Feb 2002.
  9. Shleifer, Andrei & Vishny, Robert W., 2003. "Stock market driven acquisitions," Journal of Financial Economics, Elsevier, Elsevier, vol. 70(3), pages 295-311, December.
  10. Gambardella, Alfonso & Torrisi, Salvatore, 1998. "Does technological convergence imply convergence in markets? Evidence from the electronics industry," Research Policy, Elsevier, Elsevier, vol. 27(5), pages 445-463, September.
  11. Schön, Benjamin & Pyka, Andreas, 2013. "The success factors of technology-sourcing through mergers & acquisitions: An intuitive meta-analysis," FZID Discussion Papers 78-2013, University of Hohenheim, Center for Research on Innovation and Services (FZID).
  12. Killian J. McCarthy & G.U. Weitzel, 2009. "Theory and evidence on mergers and acquisitions by small and medium enterprises," Working Papers, Utrecht School of Economics 09-21, Utrecht School of Economics.
  13. Nippa, Michael, 2011. "Zur Notwendigkeit des Corporate Portfolio Management: Eine Würdigung der wissenschaftlichen Forschung der letzten vier Jahrzehnte," Freiberg Working Papers 2011,02, TU Bergakademie Freiberg, Faculty of Economics and Business Administration.
  14. Haynes, Michelle & Thompson, Steve & Wright, Mike, 2000. "The determinants of corporate divestment in the UK," International Journal of Industrial Organization, Elsevier, Elsevier, vol. 18(8), pages 1201-1222, December.
  15. Conyon, Martin J. & Girma, Sourafel & Thompson, Steve & Wright, Peter W., 2002. "The impact of mergers and acquisitions on company employment in the United Kingdom," European Economic Review, Elsevier, Elsevier, vol. 46(1), pages 31-49, January.
  16. Imbierowicz, Björn & Wahrenburg, Mark, 2013. "Wealth transfer effects between stockholders and bondholders," The Quarterly Review of Economics and Finance, Elsevier, Elsevier, vol. 53(1), pages 23-43.
  17. Larimo, Jorma, 2003. "Form of investment by Nordic firms in world markets," Journal of Business Research, Elsevier, Elsevier, vol. 56(10), pages 791-803, October.
  18. Alfred D. Chandler, 1992. "Organizational Capabilities and the Economic History of the Industrial Enterprise," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 6(3), pages 79-100, Summer.
  19. Jiao, Jie & Qiu, Bin & Yan, An, 2013. "Diversification and heterogeneity of investor beliefs," Journal of Banking & Finance, Elsevier, Elsevier, vol. 37(9), pages 3435-3453.
  20. Cho, Joonmo, 2005. "Human resource management, corporate governance structure and corporate performance in Korea: a comparative analysis of Japan, US and Korea," Japan and the World Economy, Elsevier, Elsevier, vol. 17(4), pages 417-430, December.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:hrv:faseco:10498058. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ben Steinberg).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.