Internal vs external financing of acquisitions: do managers squander retained profits?
Article Abstract:
A comparison between internally- and externally-financed corporate acquisitions in US and UK is offered. Additional information on the impact of acquisition financing source on corporate profitability and managers' use of internal funds is also included.
Publication Name: Oxford Bulletin of Economics & Statistics
Subject: Economics
ISSN: 0305-9049
Year: 2000
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Is attack the best form of defence? A competing risks analysis of acquisition activity in the UK
Article Abstract:
Use of acquisition as a strategy by the companies to reduce their likelihood of takeover is investigated. Two large samples of the UK manufacturing companies are used within a competing risks framework.
Publication Name: Cambridge Journal of Economics
Subject: Economics
ISSN: 0309-166X
Year: 2003
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Takeover risk and dividend strategy: a study of UK firms
Article Abstract:
The connection between a corporation's dividend strategy and the possibility of takeover in UK companies was examined. Findings showed that larger dividend payments are correlated with substantially lower conditional risk of takeover. Also, companies can reduce the risk of takeover by distributing the marginal one pound sterling of earnings in dividends instead of infusing them as equity. The existence of an active market for corporate acquisitions is expected to stimulate companies to increase dividends to preserve stockholder loyalty.
Publication Name: Journal of Industrial Economics
Subject: Economics
ISSN: 0022-1821
Year: 1998
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