Measuring the Performance of Corporate Acquisitions: An Empirical Comparison of Alternative Metrics

@inproceedings{Schnberg2006MeasuringTP,
  title={Measuring the Performance of Corporate Acquisitions: An Empirical Comparison of Alternative Metrics},
  author={R. Freiherr von Sch{\"o}nberg},
  year={2006}
}
The choice of performance measure has long been a difficult issue facing researchers. This article investigates the comparability of four common measures of acquisition performance: cumulative abnormal returns, managers' assessments, divestment data and expert informants' assessments. Independently each of these measures indicated a mean acquisition success rate of between 44-56%, within a sample of British cross-border acquisitions. However, with the exception of a positive relationship… CONTINUE READING
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