Drivers Of Merger Waves A Revisit

Soegiharto, Soegiharto Drivers Of Merger Waves A Revisit. Gadjah Mada International Journal of Business, 10 (1). pp. 1-23.

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This study reexamines whether the occurrence of merger waves can be explained by the neoclassical hypothesis or the behavioral hypothesis. Using merger data for the period spanning 1990 through 2001, this study directly compares the two theories and finds that, in general, merger waves occur at the time the capital liquidity is high, firms’ stocks are overvalued, and deregulatory events exist. These suggest that the existence of an economic motivation for transactions and the availability of lower transaction cost and/or overvalued stock to generate large volume of transactions may cause industry merger waves to cluster in tim

Item Type: Article
Uncontrolled Keywords: industry shocks; market misvaluations; merger; merger waves
Subjects: AKUNTANSI > Sistem Informasi Akuntansi
Divisions: Dosen STIE YKPN > Artikel > Jurnal
Depositing User: Unnamed user with email
Date Deposited: 31 Mar 2023 00:58
Last Modified: 31 Mar 2023 00:58

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