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Self-tender offers: The effects of free cash flow, cash flow signalling, and the measurement of Tobin's q

Listed author(s):
  • Perfect, Steven B.
  • Peterson, David R.
  • Peterson, Pamela P.
Registered author(s):

    No abstract is available for this item.

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    File URL: http://www.sciencedirect.com/science/article/pii/0378-4266(94)00067-D
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    Article provided by Elsevier in its journal Journal of Banking & Finance.

    Volume (Year): 19 (1995)
    Issue (Month): 6 (September)
    Pages: 1005-1023

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    Handle: RePEc:eee:jbfina:v:19:y:1995:i:6:p:1005-1023
    Contact details of provider: Web page: http://www.elsevier.com/locate/jbf

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    1. Lang, Larry H. P. & Stulz, ReneM. & Walkling, Ralph A., 1991. "A test of the free cash flow hypothesis*1: The case of bidder returns," Journal of Financial Economics, Elsevier, vol. 29(2), pages 315-335, October.
    2. Kenneth Lehn & Annette Poulsen, 1989. "Free Cash Flow and Stockholder Gains in Going Private Transactions," Journal of Finance, American Finance Association, vol. 44(3), pages 771-787, 07.
    3. Servaes, Henri, 1991. " Tobin's Q and the Gains from Takeovers," Journal of Finance, American Finance Association, vol. 46(1), pages 409-419, March.
    4. Dann, Larry Y., 1981. "Common stock repurchases : An analysis of returns to bondholders and stockholders," Journal of Financial Economics, Elsevier, vol. 9(2), pages 113-138, June.
    5. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
    6. Malkiel, Burton G & von Furstenberg, George M & Watson, Harry S, 1979. "Expectations, Tobin's q, and Industry Investment," Journal of Finance, American Finance Association, vol. 34(2), pages 549-561, May.
    7. McConnell, John J. & Servaes, Henri, 1990. "Additional evidence on equity ownership and corporate value," Journal of Financial Economics, Elsevier, vol. 27(2), pages 595-612, October.
    8. Lindenberg, Eric B & Ross, Stephen A, 1981. "Tobin's q Ratio and Industrial Organization," The Journal of Business, University of Chicago Press, vol. 54(1), pages 1-32, January.
    9. Hertzel, Michael & Jain, Prem C., 1991. "Earnings and risk changes around stock repurchase tender offers," Journal of Accounting and Economics, Elsevier, vol. 14(3), pages 253-274, September.
    10. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    11. Dann, Larry Y. & Masulis, Ronald W. & Mayers, David, 1991. "Repurchase tender offers and earnings information," Journal of Accounting and Economics, Elsevier, vol. 14(3), pages 217-251, September.
    12. Kamma, Sreenivas & Kanatas, George & Raymar, Steven, 1992. "Dutch auction versus fixed-price self-tender offers for common stock," Journal of Financial Intermediation, Elsevier, vol. 2(3), pages 277-307, September.
    13. Comment, Robert & Jarrell, Gregg A, 1991. " The Relative Signalling Power of Dutch-Auction and Fixed-Price Self-Tender Offers and Open-Market Share Repurchases," Journal of Finance, American Finance Association, vol. 46(4), pages 1243-1271, September.
    14. Lang, Larry H. P. & Stulz, ReneM. & Walkling, Ralph A., 1989. "Managerial performance, Tobin's Q, and the gains from successful tender offers," Journal of Financial Economics, Elsevier, vol. 24(1), pages 137-154, September.
    15. Vermaelen, Theo, 1981. "Common stock repurchases and market signalling : An empirical study," Journal of Financial Economics, Elsevier, vol. 9(2), pages 139-183, June.
    16. Bagwell, Laurie Simon, 1992. " Dutch Auction Repurchases: An Analysis of Shareholder Heterogeneity," Journal of Finance, American Finance Association, vol. 47(1), pages 71-105, March.
    17. Peterson, David R & Peterson, Pamela P, 1993. "Dutch Auction Versus Fixed-Price Self-Tender Offers: Do Firms Overpay in Fixed-Price Offers?," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 16(1), pages 39-48, Spring.
    18. Bagwell, Laurie Simon, 1991. "Shareholder Heterogeneity: Evidence and Implications," American Economic Review, American Economic Association, vol. 81(2), pages 218-221, May.
    19. Howe, Keith M & He, Jia & Kao, G Wenchi, 1992. " One-Time Cash Flow Announcements and Free Cash-Flow Theory: Share Repurchases and Special Dividends," Journal of Finance, American Finance Association, vol. 47(5), pages 1963-1975, December.
    20. Vermaelen, Theo, 1984. "Repurchase Tender Offers, Signaling, and Managerial Incentives," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 19(02), pages 163-181, June.
    21. Yoshikawa, Hiroshi, 1980. "On the "q" Theory of Investment," American Economic Review, American Economic Association, vol. 70(4), pages 739-743, September.
    22. Lehn, Kenneth & Poulsen, Annette, 1989. " Free Cash Flow and Stockholder Gains in Going Private Transactions," Journal of Finance, American Finance Association, vol. 44(3), pages 771-787, July.
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