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Introduces students to modern scientific evidence about corporate takeovers. This title exposes students to different methods and empirical evidence while reading high quality primary material. It offers an efficient package of journal and book articles for advanced corporate finance students.
List of contents
Volume 1: Takeover Activity, Valuation Estimates, and Sources of Merger Gains
Introduction to Corporate Takeovers: Modern Empirical Developments; 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 Acquirers?; 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
Volume 2: Bidding Strategies, Financing, and Corporate Control
Introduction to Corporate Takeovers: Modern Empirical Developments; Mergers and Acquisitions: Strategic and Informational Issues; Auctions in Corporate Finance; Bidding Strategies and Takeover Premiums: A Review; Merger Negotiations and the Toehold Puzzle; Do Auctions Induce a Winner's Curse? New Evidence from the Corporate Takeover Market; Who Makes Acquisitions? CEO Overconfidence and the Market's Reaction; Acquisitions as a Means of Restructuring Firms in Chapter 11; Effects of Bankruptcy Court Protection on Asset Sales; Automatic Bankruptcy Auctions and Fire-Sales; Creditor Financing and Overbidding in Bankruptcy Auctions: Theory and Tests; Termination Fees in Mergers and Acquisitions; Poison or Placebo? Evidence on the Deterrence and Wealth Effects of Modern Anti-Takeover Measures; Board Classification and Managerial Entrenchment: Evidence from the Market for Corporate Control; Let's Make a Deal! How Shareholder Control Impacts Merger Payoffs; Cross-Ownership, Returns, and Voting in Mergers; Investor Activism and Takeovers; Valuation Effects of Bank Financing in Acquisitions; Financing Decisions and Bidder Gains; Do Firms have Leverage Targets? Evidence from Acquisitions; CEO Compensation and Incentives: Evidence from M&A Bonuses; Takeover Bids and Target Directors' Incentives: Retention, Experience, and Settling Up; Managerial Discipline and Corporate Restructuring following Performance Declines; Cross-Country Determinants of Mergers and Acquisitions; Spillover of Corporate Governance Standards as a Takeover Synergy in Cross-Border Mergers and Acquisitions; Adopting Better Corporate Governance: Evidence from Cross-Border Mergers; Determinants and Implications of Arbitrage Holdings in Acquisitions; Limited Arbitrage in Mergers and Acquisitions
