Takeover Activity, Valuation Estimates and Merger Gains
1st Edition
Modern Empirical Developments
Description
A selection of republished corporate finance articles and book chapters that can serve as an advanced corporate finance supplementary text for courses that use no textbooks. Combining convenience and an affordable price with retypeset pages and a high-quality index, the 600 pages of volume one, "Takeover Activity, Valuation Estimates and Sources of Merger Gains", focus on classical issues such as the existence and source of merger waves, empirical estimates of takeover announcement returns and the division of takeover gains between bidders and targets, and tests for potential sources of takeover gains (primarily involving estimation of industry wealth effects of takeovers), introducing students to modern scientific evidence about corporate takeovers. Including an index and new introduction, this volume will simplify and facilitate students’ interaction with new concepts and applications.
Key Features
Readership
Graduate and post graduate students in Finance and Economics looking for an introduction to the empirical literature on corporate takeovers; Professors looking for a comprehensive way to teach students about contemporary trends by introducing them to key journal articles and book chapters
Table of Contents
Introduction to Corporate Takeovers: Modern Empirical Evidence
Corporate Takeovers
Econometrics of Event Studies
Self-Selection Models in Corporate Finance
Investigating the Economic Role of Mergers
Valuation Waves and Merger Activity: The Empirical Evidence
What Drives Merger Waves
Firm Size and the Gains from Acquisitions
Why do Private Acquirers Pay so Little Compared to Public
The Underpricing of Private Targets
Gains in Bank Mergers: Evidence from the Bond Markets
Do Tender Offers Create Value? New Methods and Evidence
Horizontal Mergers, Collusion, and Stockholder Wealth
Sources of Gains in Horizontal Mergers: Evidence from Customers, Supplier, and Rival Firms
Industry Structure and Horizontal Takeovers: Analysis of Wealth Effects on Rivals, Suppliers, and Corporate Customers
Abnormal Returns to Rivals of Acquisition Targets: A Test of the Acquisition Probability Hypothesis
Where do Merger Gains Come From? Bank Mergers from the Perspective of Insiders and Outsiders
Corporate Restructuring: Breakups and LBOs
Details
- No. of pages:
- 864
- Language:
- English
- Copyright:
- © Academic Press 2010
- Published:
- 8th March 2010
- Imprint:
- Academic Press
- eBook ISBN:
- 9780123847454
- Paperback ISBN:
- 9780123819833
About the Author
B. Espen Eckbo
Professor B. Espen Eckbo holds the Tuck Centennial Chair in Finance. He is also Faculty Director of Tuck's Lindenauer Center for Corporate Governance, which he founded in 1999. He teaches advanced MBA courses in the areas of corporate finance, corporate takeovers and international corporate governance. Professor Eckbo, who received a PhD in financial economics from the University of Rochester in 1981, has published extensively in the top finance journals in the areas of corporate finance, investment banking, and the market for corporate control. He is a recipient of an honorary doctoral degree from the Norwegian School of Economics, the prestigious Batterymarch Fellowship, as well as several outstanding-paper awards. He is a research Associate of the European Corporate Governance Institute (ECGI), and a frequent keynote and invited seminar speaker. He was called in 2009 by the U.S. Congress to testify on issues concerning the government’s large equity ownership positions in companies rescued under the Troubled Asset Relief Program (TARP).
Affiliations and Expertise
Center for Corporate Governance, Tuck School of Business, Dartmouth College, Hanover, NH, USA