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What factors drive takeovers in Australia?

Porter, Joshua and Singh, Harminder 2010, What factors drive takeovers in Australia?, International journal of business and economics, vol. 9, no. 2, pp. 87-103.

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Title What factors drive takeovers in Australia?
Author(s) Porter, Joshua
Singh, Harminder
Journal name International journal of business and economics
Volume number 9
Issue number 2
Start page 87
End page 103
Publisher Feng Chia University, College of Business
Place of publication Taichung, Taiwan
Publication date 2010
ISSN 1607-0704
Keyword(s) takeovers
synergy
agency
Summary We examine the relationships between the wealth changes associated with a takeover announcement to distinguish between three major competing motives—synergy, hubris, and agency. Empirical tests indicate that the synergy motive is the predominant explanation for the majority of takeovers in Australia; however, the evidence is consistent with the simultaneous presence of hubris in value-creating takeovers. The evidence also suggests agency, not hubris, is the primary motivation for the takeovers which result in value destruction.
Language eng
Field of Research 150299 Banking, Finance and Investment not elsewhere classified
Socio Economic Objective 900101 Finance Services
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2010
Copyright notice ©2010, Feng Chia University
Persistent URL http://hdl.handle.net/10536/DRO/DU:30031041

Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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