Abnormal returns to rivals of acquisition targets : A test of the & acquisition probability hypothesis ' q

@inproceedings{Song2015AbnormalRT,
  title={Abnormal returns to rivals of acquisition targets : A test of the & acquisition probability hypothesis ' q},
  author={M. H. Song and Ralph A. Walkling},
  year={2015}
}
We develop and test the Acquisition Probability Hypothesis, which asserts that rivals of initial acquisition targets earn abnormal returns because of the increased probability that they will be targets themselves. On average, rival "rms earn positive abnormal returns regardless of the form and outcome of acquisition. These returns increase signi"cantly with… CONTINUE READING