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Corporate vulnerability to cash tender offers
Author(s) -
Gallinger George W.
Publication year - 1982
Publication title -
strategic management journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 11.035
H-Index - 286
eISSN - 1097-0266
pISSN - 0143-2095
DOI - 10.1002/smj.4250030302
Subject(s) - tender offer , vulnerability (computing) , cash , business , empirical evidence , plan (archaeology) , industrial organization , finance , corporate governance , shareholder , computer security , history , philosophy , archaeology , epistemology , computer science
This paper reports and discusses empirical results of a study which examines why some firms are attacked via unfriendly tender offers and other firms are not. The evidence indicates that target firms' managers ineffectively plan and/or implement business strategy, thus increasing their vulnerability to takeovers.