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Citations for " The Success of Acquisitions: Evidence from Divestitures"

by Kaplan, Steven N & Weisbach, Michael S

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  1. Kotaro Tsuru, 2000. "Finance and Growth: Some Theoretical Considerations and a Review of the Empirical Literature," OECD Economics Department Working Papers 228, OECD Publishing.
  2. Ninon Kohers, 2004. "Acquisitions of private targets: the unique shareholder wealth implications," Applied Financial Economics, Taylor & Francis Journals, vol. 14(16), pages 1151-1165.
  3. Claude Francoeur & Alain Niyubahwe, 2009. "Sell-offs, internal capital markets, and long run performance: Canadian evidence," International Journal of Managerial Finance, Emerald Group Publishing, vol. 5(4), pages 376-390, September.
  4. Sara B. Moeller & Frederik P. Schlingemann & Rene M. Stulz, 2003. "Do shareholders of acquiring firms gain from acquisitions?," NBER Working Papers 9523, National Bureau of Economic Research, Inc.
  5. Huang, Sheng, 2014. "Managerial expertise, corporate decisions and firm value: Evidence from corporate refocusing," Journal of Financial Intermediation, Elsevier, vol. 23(3), pages 348-375.
  6. Lang, Larry H P & Stulz, Rene M, 1994. "Tobin's q, Corporate Diversification, and Firm Performance," Journal of Political Economy, University of Chicago Press, vol. 102(6), pages 1248-80, December.
  7. Kavusan, K., 2015. "Essays on capability development through alliances," Other publications TiSEM 8eb736a5-b217-4718-ac13-d, Tilburg University, School of Economics and Management.
  8. Laurent Batsch, 2003. "Le recentrage:une revue des approches financières," Revue Finance Contrôle Stratégie, revues.org, vol. 6(2), pages 43-65, June.
  9. Walters, Bruce A. & Kroll, Mark J. & Wright, Peter, 2007. "CEO tenure, boards of directors, and acquisition performance," Journal of Business Research, Elsevier, vol. 60(4), pages 331-338, April.
  10. Khorana, Ajay & Zenner, Marc, 1998. "Executive compensation of large acquirors in the 1980s," Journal of Corporate Finance, Elsevier, vol. 4(3), pages 209-240, September.
  11. Doukas, John A. & Kan, Ozgur B., 2008. "Investment decisions and internal capital markets: Evidence from acquisitions," Journal of Banking & Finance, Elsevier, vol. 32(8), pages 1484-1498, August.
  12. Martin, John D. & Sayrak, Akin, 2003. "Corporate diversification and shareholder value: a survey of recent literature," Journal of Corporate Finance, Elsevier, vol. 9(1), pages 37-57, January.
  13. Haynes, Michelle & Thompson, Steve & Wright, Mike, 2000. "The determinants of corporate divestment in the UK," International Journal of Industrial Organization, Elsevier, vol. 18(8), pages 1201-1222, December.
  14. Ray Sugata & Warusawitharana Missaka, 2009. "An Efficiency Perspective on the Gains from Mergers and Asset Purchases," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 9(1), pages 1-27, October.
  15. Comment, Robert & Jarrell, Gregg A., 1995. "Corporate focus and stock returns," Journal of Financial Economics, Elsevier, vol. 37(1), pages 67-87, January.
  16. James Chong & Alexandra Krystalogianni & Simon Stevenson, . "Dynamic Correlations across REIT Sub-Sectors," Real Estate & Planning Working Papers rep-wp2011-07, Henley Business School, Reading University.
  17. Mitchell Berlin, 1999. "Jack of all trades? Product diversification in nonfinancial firms," Business Review, Federal Reserve Bank of Philadelphia, issue May, pages 15-29.
  18. Vojislav Maksimovic & Gordon Phillips & Nagpurnanand Prabhala, 2011. "Post-Merger Restructuring and the Boundaries of the Firm," Working Papers 11-11, Center for Economic Studies, U.S. Census Bureau.
  19. Bhagat, Sanjai & Dong, Ming & Hirsheifer, David & Noah, Noah, 2004. "Do Tender Offers Create Value? New Methods and Evidence," Working Paper Series 2004-4, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
  20. Michael P. Ross., 1998. "Corporate Hedging: What, Why and How?," Research Program in Finance Working Papers RPF-280, University of California at Berkeley.
  21. Klein, Peter G, 2001. "Were the Acquisitive Conglomerates Inefficient?," RAND Journal of Economics, The RAND Corporation, vol. 32(4), pages 745-61, Winter.
  22. Hotchkiss, Edith S. & Mooradian, Robert M., 1998. "Acquisitions as a Means of Restructuring Firms in Chapter 11," Journal of Financial Intermediation, Elsevier, vol. 7(3), pages 240-262, July.
  23. Steven N. Kaplan & Mark Mitchell & Karen Wruck, 2000. "A Clinical Exploration of Value Creation and Destruction in Acquisitions, Organizational Design, Incentives, and Internal Capital Markets," NBER Chapters, in: Mergers and Productivity, pages 179-238 National Bureau of Economic Research, Inc.
  24. James Chong & Alexandra Krystalogianni & Simon Stevenson, 2012. "Dynamic correlations between REIT sub-sectors and the implications for diversification," Applied Financial Economics, Taylor & Francis Journals, vol. 22(13), pages 1089-1109, July.
  25. Larsen, Michael Holm, 2006. "Value Creation through ICT Integration in Merger & Acquisition Processes," Working Papers 2005-8, Copenhagen Business School, Department of Informatics.
  26. Felipe Balmaceda, 2009. "Mergers and CEO Power," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 165(3), pages 454-486, September.
  27. Barber, Brad M. & Palmer, Donald & Wallace, James, 1995. "Determinants of conglomerate and predatory acquisitions: evidence from the 1960s," Journal of Corporate Finance, Elsevier, vol. 1(3-4), pages 283-318, April.
  28. Blumberg, Aryeh & Owers, James E., 1996. "The convergence of foreign direct investment and restructuring: Evidence from cross-border divestitures," Global Finance Journal, Elsevier, vol. 7(1), pages 67-87.
  29. Marc Goergen & Luc Renneboog, 2004. "Shareholder Wealth Effects of European Domestic and Cross-border Takeover Bids," European Financial Management, European Financial Management Association, vol. 10(1), pages 9-45.
  30. R. Glenn Hubbard & Darius Palia, 1998. "A Re-Examination of the Conglomerate Merger Wave in the 1960s: An Internal Capital Markets View," NBER Working Papers 6539, National Bureau of Economic Research, Inc.
  31. Stefan Erdorf & Thomas Hartmann-Wendels & Nicolas Heinrichs & Michael Matz, 2012. "Corporate Diversification and Firm Value: A Survey of Recent Literature," Cologne Graduate School Working Paper Series 03-01, Cologne Graduate School in Management, Economics and Social Sciences.
  32. Mehrotra, Vikas & van Schaik, Dimitri & Spronk, Jaap & Steenbeek, Onno, 2011. "Creditor-Focused Corporate Governance: Evidence from Mergers and Acquisitions in Japan," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 46(04), pages 1051-1072, September.
  33. Stein, Jeremy C, 1997. " Internal Capital Markets and the Competition for Corporate Resources," Journal of Finance, American Finance Association, vol. 52(1), pages 111-33, March.
  34. Jorge Farinha & Francisco Miranda, 2003. "Run-up, toeholds, and agency effects in mergers and acquisitions: evidence from an emerging market," CEF.UP Working Papers 0311, Universidade do Porto, Faculdade de Economia do Porto.
  35. Batsch, Laurent, 2003. "Le recentrage : une revue des approches financières," Economics Papers from University Paris Dauphine 123456789/2773, Paris Dauphine University.
  36. Matsusaka, John G. & Nanda, Vikram, 2002. "Internal Capital Markets and Corporate Refocusing," Journal of Financial Intermediation, Elsevier, vol. 11(2), pages 176-211, April.
  37. Duso, Tomaso & Gugler, Klaus & Yurtoglu, Burcin, 2010. "Is the event study methodology useful for merger analysis? A comparison of stock market and accounting data," International Review of Law and Economics, Elsevier, vol. 30(2), pages 186-192, June.
  38. Martynova, M. & Renneboog, L.D.R., 2006. "The Performance of the European Market for Corporate Control : Evidence from the 5th Takeover Wave," Discussion Paper 2006-118, Tilburg University, Center for Economic Research.
  39. Malcolm Baker & Richard S. Ruback & Jeffrey Wurgler, 2004. "Behavioral Corporate Finance: A Survey," NBER Working Papers 10863, National Bureau of Economic Research, Inc.
  40. Tomaso Duso & Damien J. Neven & Lars-Hendrik Röller, 2002. "The Political Economy of European Merger Control: Evidence using Stock Market Data," CIG Working Papers FS IV 02-34, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
  41. Martynova, M. & Renneboog, L.D.R., 2006. "Mergers and Acquisitions in Europe," Discussion Paper 2006-6, Tilburg University, Center for Economic Research.
  42. Martynova, M. & Renneboog, L.D.R., 2005. "Takeover Waves : Triggers, Performance and Motives," Discussion Paper 2005-029, Tilburg University, Tilburg Law and Economic Center.
  43. Jiraporn, Pornsit & Kim, Young Sang & Davidson, Wallace N. & Singh, Manohar, 2006. "Corporate governance, shareholder rights and firm diversification: An empirical analysis," Journal of Banking & Finance, Elsevier, vol. 30(3), pages 947-963, March.
  44. Jiraporn, Pornsit & Kim, Young Sang & Davidson III, Wallace N., 2008. "Multiple directorships and corporate diversification," Journal of Empirical Finance, Elsevier, vol. 15(3), pages 418-435, June.
  45. Jeremy C. Stein, 2001. "Agency, Information and Corporate Investment," NBER Working Papers 8342, National Bureau of Economic Research, Inc.
  46. Hennart, Jean-François & Roehl, Thomas & Zeng, Ming, 2002. "Do exits proxy a liability of foreignness?: The case of Japanese exits from the US," Journal of International Management, Elsevier, vol. 8(3), pages 241-264.
  47. Günter Franke & Christian Hopp, 2005. "M&A Transaktionen: Fluch und Segen der Realoptionstheorie," CoFE Discussion Paper 05-03, Center of Finance and Econometrics, University of Konstanz.
  48. Frederik P. Schlingemann & Rene M. Stulz & Ralph A. Walkling, 2000. "Asset Liquidity and Segment Divestitures," NBER Working Papers 7873, National Bureau of Economic Research, Inc.
  49. Andre Betzer & Marc Goergen, 2011. "Disentangling the Link Between Stock and Accounting Performance in Acquisitions," Schumpeter Discussion Papers sdp11010, Universitätsbibliothek Wuppertal, University Library.
  50. Pierre-Xavier Meschi & Emmanuel Metais, 2011. "Les firmes apprennent-elles de leurs échecs d’acquisition?," Revue Finance Contrôle Stratégie, revues.org, vol. 14(1), pages 69-100., March.
  51. Owen A. Lamont & Christopher Polk, . "Does Diversification Destroy Value? Evidence from Industry Shocks."," CRSP working papers 521, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
  52. Oliver Budzinski & Jürgen-Peter Kretschmer, 2007. "Implications of Unprofitable Horizontal Mergers: A Re-Interpretation of the Farrell-Shapiro-Framework," Marburg Working Papers on Economics 200714, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  53. Ron Alquist & Rahul Mukherjee & Linda Tesar, 2013. "Fire-Sale FDI or Business as Usual?," Working Papers 13-17, Bank of Canada.
  54. Damien Neven & Hans Zenger, 2008. "Ex Post Evaluation of Enforcement: A Principal-Agent Perspective," De Economist, Springer, vol. 156(4), pages 477-490, December.
  55. Patrick Bolton & David S. Scharfstein, 1998. "Corporate Finance, the Theory of the Firm, and Organizations," Journal of Economic Perspectives, American Economic Association, vol. 12(4), pages 95-114, Fall.
  56. Frederik P. Schlingemann & Rene M. Stulz & Ralph A. Walkling, 1999. "Corporate Focusing and Internal Capital Markets," NBER Working Papers 7175, National Bureau of Economic Research, Inc.
  57. Dmitri Boreiko & Maurizio Murgia, 2013. "European spin-offs Origin, value creation, and long-term performance," BEMPS - Bozen Economics & Management Paper Series BEMPS05, School of Economics and Management at the Free University of Bozen.
  58. Villalonga, Belen, 2000. "Does Diversification Cause the “Diversification Discount�," University of California at Los Angeles, Anderson Graduate School of Management qt40v212gm, Anderson Graduate School of Management, UCLA.
  59. Martynova, Marina & Renneboog, Luc, 2008. "A century of corporate takeovers: What have we learned and where do we stand?," Journal of Banking & Finance, Elsevier, vol. 32(10), pages 2148-2177, October.
  60. Dennis C. Mueller & Mark L. Sirower, 2003. "The causes of mergers: tests based on the gains to acquiring firms' shareholders and the size of premia," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 24(5), pages 373-391.
  61. Bodnar, G.M. & Tang, C. & Weintrop, J., 1998. "Both Sides of Corporate Diversification: The Value Impacts of Geographic and Industrial Diversification," Weiss Center Working Papers 98-02, Wharton School - Weiss Center for International Financial Research.
  62. Oliver Budzinski & Jürgen-Peter Kretschmer, 2009. "Implications of Unprofitable Horizontal Mergers: A Positive External Effect does not Suffice to Clear a Merger!," Working Papers 84/09, University of Southern Denmark, Department of Environmental and Business Economics.
  63. Chemmanur, Thomas J. & Krishnan, Karthik & Nandy, Debarshi K., 2014. "The effects of corporate spin-offs on productivity," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 72-98.
  64. Megginson, William L. & Morgan, Angela & Nail, Lance, 2004. "The determinants of positive long-term performance in strategic mergers: Corporate focus and cash," Journal of Banking & Finance, Elsevier, vol. 28(3), pages 523-552, March.
  65. Gerard Hoberg & Gordon Phillips, 2010. "Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis," Review of Financial Studies, Society for Financial Studies, vol. 23(10), pages 3773-3811, October.
  66. Harold M. Somers, 1991. "Leverage: The Tax Incentives," UCLA Economics Working Papers 625, UCLA Department of Economics.
  67. Pierre-Xavier Meschi & Emmanuel Métais, 2007. "Expérience, oubli organisationnel et motifs de désinvestissement des acquisitions internationales:le cas des acquisitions françaises aux États-Unis (1988-2004)," Revue Finance Contrôle Stratégie, revues.org, vol. 10(4), pages 73-109, December.
  68. Polona Domadenik & Lubomir Lizal & Marko Pahor, 2003. "Effect of Enterpise Break-Ups on Performance: Case of Former Yugoslav Republic of Macedonia," CERGE-EI Working Papers wp216, The Center for Economic Research and Graduate Education - Economic Institute, Prague.
  69. Cynthia A. Montgomery, 1994. "Corporate Diversificaton," Journal of Economic Perspectives, American Economic Association, vol. 8(3), pages 163-178, Summer.
  70. Olivier J. Blanchard & Florencio Lopez-de-Silane, 1993. "What do Firms do with Cash Windfalls?," NBER Working Papers 4258, National Bureau of Economic Research, Inc.
  71. Mulherin, J. Harold & Boone, Audra L., 2000. "Comparing acquisitions and divestitures," Journal of Corporate Finance, Elsevier, vol. 6(2), pages 117-139, July.
  72. Shimizu, Katsuhiko & Hitt, Michael A. & Vaidyanath, Deepa & Pisano, Vincenzo, 2004. "Theoretical foundations of cross-border mergers and acquisitions: A review of current research and recommendations for the future," Journal of International Management, Elsevier, vol. 10(3), pages 307-353.
  73. D'Souza, Juliet & Megginson, William & Nash, Robert, 2007. "The effects of changes in corporate governance and restructurings on operating performance: Evidence from privatizations," Global Finance Journal, Elsevier, vol. 18(2), pages 157-184.
  74. Ang, James S. & Ismail, Ahmad K., 2015. "What premiums do target shareholders expect? Explaining negative returns upon offer announcements," Journal of Corporate Finance, Elsevier, vol. 30(C), pages 245-256.
  75. Tan, Guofu & Yuan, Lasheng, 2003. "Strategic incentives of divestitures of competing conglomerates," International Journal of Industrial Organization, Elsevier, vol. 21(5), pages 673-697, May.
  76. Martynova, M., 2006. "The market for corporate control and corporate governance regulation in Europe," Other publications TiSEM 8651e281-4914-41f2-ac14-1, Tilburg University, School of Economics and Management.
  77. Spencer, Carolyn & Akhigbe, Aigbe & Madura, Jeff, 1998. "Impact of partial control on policies enacted by partial targets," Journal of Banking & Finance, Elsevier, vol. 22(4), pages 425-445, May.
  78. McKnight, Phillip J. & Weir, Charlie, 2009. "Agency costs, corporate governance mechanisms and ownership structure in large UK publicly quoted companies: A panel data analysis," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(2), pages 139-158, May.
  79. John, Kose & Ofek, Eli, 1995. "Asset sales and increase in focus," Journal of Financial Economics, Elsevier, vol. 37(1), pages 105-126, January.
  80. M. Àngels Oliva & Luis Rivera-Bátiz, 1997. "A model of conglomeration and synergy traps," Economics Working Papers 232, Department of Economics and Business, Universitat Pompeu Fabra.
  81. Kathleen M. Kahle & Ralph A. Walkling, . "The Impact of Industry Classifications on Financial Research," Research in Financial Economics 9607, Ohio State University.
  82. Habib, Michel A. & Mella-Barral, Pierre, 2013. "Skills, core capabilities, and the choice between merging, allying, and trading assets," Journal of Mathematical Economics, Elsevier, vol. 49(1), pages 31-48.
  83. Haynes, Michelle & Thompson, Steve & Wright, Mike, 2003. "The determinants of corporate divestment: evidence from a panel of UK firms," Journal of Economic Behavior & Organization, Elsevier, vol. 52(1), pages 147-166, September.
  84. Joaquin, Domingo Castelo & Khanna, Naveen, 2000. "Cannibalization risk and limited liability: implications for firm valuation and capital budgeting," The Quarterly Review of Economics and Finance, Elsevier, vol. 40(2), pages 247-262.
  85. Francis, Jere R. & Martin, Xiumin, 2010. "Acquisition profitability and timely loss recognition," Journal of Accounting and Economics, Elsevier, vol. 49(1-2), pages 161-178, February.
  86. Hennart, J.M.A. & Roehl, T. & Zeng, M., 2002. "Do exits proxy for a liability of foreigners? The case of Japanese exits from the United States," Other publications TiSEM 46372cd5-f8f0-4dcd-a270-d, Tilburg University, School of Economics and Management.
  87. Nihat Aktas & Eric de Bodt & Laurent Liagre, 2006. "Le décollage d'EADS:le point de vue des marchés financiers," Revue Finance Contrôle Stratégie, revues.org, vol. 9(1), pages 5-34, March.
  88. Felipe Balmaceda, 2002. "Corporate Diversification: Good for Some Bad for Others," Documentos de Trabajo 141, Centro de Economía Aplicada, Universidad de Chile.
  89. Tsytsulina, Dina, 2012. "The expected influence of Russian and foreign mergers on competition in metal industry 1999–2011," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 27(3), pages 70-85.
  90. Hanson, Robert C. & Song, Moon H., 2000. "Managerial ownership, board structure, and the division of gains in divestitures," Journal of Corporate Finance, Elsevier, vol. 6(1), pages 55-70, March.
  91. Ishii, Joy & Xuan, Yuhai, 2014. "Acquirer-target social ties and merger outcomes," Journal of Financial Economics, Elsevier, vol. 112(3), pages 344-363.
  92. Matilde Fernández-Blanco & C. José García Martín, 2000. "La compra de volúmenes significativos de acciones en el mercado español," Investigaciones Economicas, Fundación SEPI, vol. 24(1), pages 237-267, January.
  93. Anjos, Fernando, 2010. "Costly refocusing, the diversification discount, and the pervasiveness of diversified firms," Journal of Corporate Finance, Elsevier, vol. 16(3), pages 276-287, June.
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