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Information Revelation via Takeovers in Correlated Environments
Author(s) -
Kerschbamer Rudolf
Publication year - 1997
Publication title -
managerial and decision economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.288
H-Index - 51
eISSN - 1099-1468
pISSN - 0143-6570
DOI - 10.1002/(sici)1099-1468(199702)18:1<55::aid-mde806>3.0.co;2-3
Subject(s) - revelation , economics , business , law and economics , mathematical economics , microeconomics , philosophy , theology
This paper studies the informational content of takeover bids in correlated environments and provides an explanation for the empirical result that industry rivals of takeover targets exhibit positive share‐price reactions on the announcement of a bid. © 1997 John Wiley & Sons Ltd.