منابع مشابه
Corporate serial acquisitions : An empirical test of the learning
Recent empirical papers report a declining trend in the cumulative abnormal return (CAR) of acquirers during an M&A program. Does this necessarily imply that acquiring CEOs are infected by hubris and are not learning from previous mistakes? We first confirm the existence of this declining trend on average. However, we find a positive CAR trend for CEOs likely to be infected by hubris, which is ...
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There is no such thing as a historical “big bang” where all data was created in one blink. Instead, information is constantly growing and evolving. New data is created and existing data enriched or adapted, over time—at high speed. This paper advocates research to handle dynamic information consisting of small pieces of data, say JSON documents, on-the-fly in order to constantly build-up new da...
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In this paper, we investigate the relation between two variables where the one is measured with the ratio or interval scale and the other with the nominal. In this cases, we use from serial correlation coefficient. Computation of some serial coefficient such as biserial and point-biserial coefficient is carried out with some examples and R program.
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This article demonstrates that incumbent firms acquire innovative targets to discontinue the development of the targets’ innovation projects in order to preempt future competition. We call such acquisitions “killer acquisitions.” We illustrate the phenomenon using a model with product market competition, innovation, and endogenous acquisition decisions. In our model incumbent firms have incenti...
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We show that CEOs exhibit a home bias in acquisitions. Firms are over twice as likely to acquire targets located in their CEOs’ home states than similar targets domiciled elsewhere. The bias is strongest for private targets and when acquirer governance is lax, and these private home deals do not create value, suggesting that CEOs acquire these targets for their own benefits. Unlike typical publ...
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ژورنال
عنوان ژورنال: California Management Review
سال: 2010
ISSN: 0008-1256,2162-8564
DOI: 10.1525/cmr.2010.53.1.56