The DOI matches its Crossref record; 45 of the 45 references it cites were found in a registry or an index.
Factors influencing wealth creation from mergers and acquisitions: A meta‐analysis
Abstract
This study analyzes the empirical literature concerning the influence of various factors on shareholder wealth creation in mergers and acquisitions using a multivariate framework. Overall, results indicate that while the target firm's shareholders gain significantly from mergers and acquisitions, those of the bidding firm do not. Findings also indicate that the use of stock financing has a significant impact on the wealth of both the target and bidding firms' shareholders. The presence of multiple bidders and the type of acquisition influence the bidders' return, while regulatory changes and tender offers influence the targets' returns. The paper also provides a comparison of our findings with that of previous narrative reviews and discusses their implications from the viewpoint of managers and researchers.
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Cites
Corporate financing and investment decisions when firms have information that investors do not have
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The market for corporate control
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The Hubris Hypothesis of Corporate Takeovers
Roll, R. (1986) · The Journal of Business · doi:10.1086/296325 · Cited by 3,751
The Adolescence of Institutional Theory
Scott, W. R. (1987) · Administrative Science Quarterly · doi:10.2307/2392880 · Cited by 3,699
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From Competitive Advantage to Corporate Strategy
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Corporate Takeover Bids, Methods of Payment, and Bidding Firms' Stock Returns
TRAVLOS, N. G. (1987) · The Journal of Finance · doi:10.1111/j.1540-6261.1987.tb03921.x · Cited by 1,407
Equity issues and offering dilution
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Cited by
Corporate Social and Financial Performance: A Meta-Analysis
Orlitzky, M., Schmidt, F. L., & Rynes, S. L. (2003) · Organization Studies · doi:10.1177/0170840603024003910 · Cited by 7,641
Aguilera, R. V., Filatotchev, I., Gospel, H., & Jackson, G. (2008) · Organization Science · doi:10.1287/orsc.1070.0322 · Cited by 833
DETERMINANTS OF ACQUISITION INTEGRATION LEVEL: A DECISION-MAKING PERSPECTIVE.
PABLO, A. L. (1994) · Academy of Management Journal · doi:10.2307/256601 · Cited by 543
Socially Irresponsible and Illegal Behavior and Shareholder Wealth: A Meta-Analysis of Event Studies
Frooman, J. (1997) · Business & Society · doi:10.1177/000765039703600302 · Cited by 481
The double-edged sword of cultural distance in international acquisitions
Reus, T. H., & Lamont, B. T. (2009) · Journal of International Business Studies · doi:10.1057/jibs.2009.25 · Cited by 451
Metadata
- Authors
- Datta, D. K., Pinches, G. E., & Narayanan, V. K.
- Venue
- Strategic Management Journal
- Publisher
- Wiley
- Published
- 1992-01
- Volume
- 13
- Issue
- 1
- Pages
- 67-84
- ISSN
- 0143-2095 (ISSN-L)
- 1097-0266
- OpenAlex
- W2103122114
- Cited by
- 532
- References
- 45
- FWCI
- 16.01
- Type
- journal article
- Language
- en
- Open access
- closed
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- Datta, D. K., Pinches, G. E., & Narayanan, V. K. (1992). Factors influencing wealth creation from mergers and acquisitions: A meta‐analysis. Strategic Management Journal. https://doi.org/10.1002/smj.4250130106
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
