Artigo Revisado por pares

Merger as a Form of Investment

1996; Wiley; Volume: 49; Issue: 2 Linguagem: Inglês

10.1111/j.1467-6435.1996.tb01389.x

ISSN

1467-6435

Autores

George Bittlingmayer,

Tópico(s)

Private Equity and Venture Capital

Resumo

KyklosVolume 49, Issue 2 p. 127-153 Merger as a Form of Investment George Bittlingmayer, George Bittlingmayer Associate Professor, Graduate School of Management. University of California at Davis, Davis, California, 95616, USA. My thanks go to Yoram Barzel, Harold Demsetz, Bob Hart, Ben Klein, Dennis Mueller, Arnold Picot, David Rocke and Lester Telser for useful comments.Search for more papers by this author George Bittlingmayer, George Bittlingmayer Associate Professor, Graduate School of Management. University of California at Davis, Davis, California, 95616, USA. My thanks go to Yoram Barzel, Harold Demsetz, Bob Hart, Ben Klein, Dennis Mueller, Arnold Picot, David Rocke and Lester Telser for useful comments.Search for more papers by this author First published: May 1996 https://doi.org/10.1111/j.1467-6435.1996.tb01389.xCitations: 8 AboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL References Agrawal, Anup, Jeffrey F. Jaffe and Gershon N. Mandelker (1992). The Post-Merger Performance of Acquiring Firms: A Re-examination of an Anomaly, Journal of Finance. 47: 1605– 1621. Alchian, Armen A. and Harold Demsetz (1972). 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Brickley and Jeffry M. Netter (1988). The Market for Corporate Control: The Empirical Evidence Since 1980, Journal of Economic Perspectives. 2: 49– 68. Jensen, Michael C. (1986). Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers, American Economic Review. 76: 323– 329. Jensen, Michael C. and William H. Meckling (1976). Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure, Journal of Financial Economics. 3: 305– 60. Jensen, Michael C. and Richard S. Ruback (1983). The Market for Corporate Control: The Scientific Evidence, Journal of Financial Economics, 11: 5– 50. Reprinted in Michael C. Jensen and Clifford W. Smith, Jr. (1984). The Modern Theory of corporate Finance. New York : Mcgraw-Hill. Klein, Benjamin, Robert Crawford and Armen Alchian (1978). Vertical Integration, Appropriable Rents and the Competitive Contracting Process, Journal of Law and Economics. 21: 297– 326. Lichtenberg, Frank R. (1992a). Industrial De-Diversification and Its Consequences for Productivity, Journal of Economic Behavior and Organization. 18: 427– 438. Lichtenberg, Frank R. (1992b). Corporate Takeovers and Productivity. Cambridge (USA) : MIT. Press. Maloney, Michael T. and Robert E. McCormick (1988). Excess Capacity, Cyclical Production, and Merger Motives: Some Evidence from the Capital Markets, Journal of Law and Economics. 31: 321– 350. Melicher, Ronald W., Johannes Ledolter and Louis J. D'Antonio (1983). A Time Series Analysis of Aggregate Merger Activity, Review of Economics and Statistics. 65: 423– 430. Mitchell, Mark and Ken Lehn (1990). Do Bad Bidders Become Good Targets? Journal of Political Economy. 98: 372– 398. Morck, Randall, Andrei Shleifer and Robert W. Vishny (1990). Do Managerial Objectives Drive Bad Acquisitions? Journal of Finance. 45: 31– 48. Mueller, Dennis C. (1977). The Effects of Conglomerate Mergers: A Survey of the Empirical Evidence, Journal of Bunking and Finance. 1: 315– 342. Mueller, Dennis C. (1986). Profits in the Long Run. Cambridge : Cambridge University Press. Nelson, Ralph L. (1959). Merger Movements in American Industry, 1895–1956. Princeton : National Bureau of Economic Research. Ravenscraft, David J. and F.M. Scherer (1987). Mergers, Sell-Offs and Economic Efficiency. Washington , D.C. : Brookings Institution. Rosen, Sherwin (1988). Promotions, Elections and Other Contests, Journal of Institutional and Theoretical Economics. 144: 73– 90. Scherer, F.M. and David Ross (1990). Industrial Market Structure and Economic Performance. Chicago : Rand McNally ( 3rd edition). Snedecor, George W. and William G. Cochran (1980). Statistical Methods ( 7th ed.). Ames : Iowa State University Press. Statistisches Bundesamt (1980). Statistisches Juhrbuch, 1980. Stuttgart and Mainz : W. Kohlhammer. Steiner, Peter O. (1975). Mergers: Motives, Efects, Policies. Ann Arbor : University of Michigan Press. Telser, Lester G. (1984). Innovation: Its Public and Private Aspects and Some of their Empirical Implications for Mergers, Economic Inquiry. 22: 634– 659. U.S. Department of Commerce, Bureau of the Census (1971). Annual Survey of Manufacturers, 1968, Book Value of Fixed Assets. Rental Payments for Buildings and Equipment, and Labor Costs. Washington D.C. : U.S. Government Printing Office, Report M 68 (AS) - 7 (August). US. Federal Trade Commission, Bureau of Economics (1981). Statistical Report on Mergers und Acquisitions, 1979 (July). Weston, J. Fred (1953). The Role of Mergers in the Growth of Large Firm. Berkeley and Los Angeles : University of California Press. Weston J. Fred, Kwang S. Chung and Susan E. Hoag (1990). Mergers, Restructuring, und Corporate Control. Englewood Cliffs : Prentice Hall. Williamson, Oliver (1985). The Economic Institutions of Capitalism Firms, Markets, Relational Contracting. New York : The Free Press. Citing Literature Volume49, Issue2May 1996Pages 127-153 ReferencesRelatedInformation

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