| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP200 |
| DP200 Means of Payment in Takeovers: Results for the UK and US | |
| Julian Franks; Colin Mayer; Robert Harris | |
| 发表日期 | 1987-09-01 |
| 出版年 | 1987 |
| 语种 | 英语 |
| 摘要 | 2,500 acquisitions in the United Kingdom and United States are used to examine means of payment in acquisitions. There has been a substantial increase in the proportion of acquisitions financed with cash in the United States over the period of the study from 1955 to 1985. Mixed bids are more common in the UK. Bid premia are significantly larger in cash than equity acquisitions and the differences cannot be wholly attributed to the nature of the bid. Cash acquisitions display a better post acquisition performance than equity. These results bear directly on theories of acquisition finance and cast serious doubt on several commonly cited factors. |
| 关键词 | Acquisitions Corporate raiders Means of payment Takeovers |
| URL | https://cepr.org/publications/dp200 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529356 |
| 推荐引用方式 GB/T 7714 | Julian Franks,Colin Mayer,Robert Harris. DP200 Means of Payment in Takeovers: Results for the UK and US. 1987. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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