Sources of gains in horizontal mergers: evidence from customer, supplier, and rival firms
Article Abstract:
Improved efficiency in production is the primary gain for the firms taking up horizontal mergers and acquisitions. The relative importance of buying power and monopolistic collusion as sources of gains in mergers is analyzed. The valuation impact at announcements and post-merger changes in operating performance is examined using a data on firms that announced horizontal mergers and acquisitions from 1980-1997.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2004
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Tunneling, propping, and expropriation: evidence from connected party transactions in Hong Kong
Article Abstract:
With reference to Hong Kong listed companies, the extent to which connected party transactions contribute to the expropriation of minority shareholders by firms is analyzed.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2006
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