Corpus ID: 13901972

Start Small and Learn Big: A Learning Perspective on Corporate Diversification through Mergers and Acquisitions

@inproceedings{Cai2016StartSA,
  title={Start Small and Learn Big: A Learning Perspective on Corporate Diversification through Mergers and Acquisitions},
  author={Chen Cai},
  year={2016}
}
START SMALL AND LEARN BIG: A LEARNING PERSPECTIVE ON CORPORATE DIVERSIFICATION THROUGH MERGERS AND ACQUISITIONS 

References

SHOWING 1-10 OF 33 REFERENCES
Mergers and the Performance of the Acquiring Firm.
Do mergers provide real benefits to acquiring firms? If not. as empirical studies completed mostly in the field of finance conclude, then why do firms continue to merge? If mergers do provide realExpand
Corporate Diversification, Value Maximization, and Organizational Capabilities
This article develops a dynamic model of a firm in which diversification can be a value-maximizing strategy even if specialization is generally efficient. The central idea is that firms are composedExpand
On the Patterns and Wealth Effects of Vertical Mergers
We use industry commodity flows information to measure vertical relations in completed mergers from 1962 to 1996. Almost one-third of the mergers display vertical relatedness. Vertical mergerExpand
Corporate Governance and Acquirer Returns
We examine whether corporate governance mechanisms, especially the market for corporate control, affect the profitability of firm acquisitions. We find that acquirers with more antitakeoverExpand
Resources, real options, and corporate strategy
The types of investments a firm undertakes will depend in part on what it expects the outcome of those investments to reveal about its skills, capabilities, and assets (i.e., its resources). WeExpand
Firm size and the gains from acquisitions
Abstract We examine a sample of 12,023 acquisitions by public firms from 1980 to 2001. The equally weighted abnormal announcement return is 1.1%, but acquiring-firm shareholders lose $25.2 million onExpand
Institutional Investors and Executive Compensation
We find that institutional ownership concentration is positively related to the pay-for-performance sensitivity of executive compensation and negatively related to the level of compensation, evenExpand
Implications of Data Screens on Merger and Acquisition Analysis: A Large Sample Study of Mergers and Acquisitions from 1992-2009
We analyze a comprehensive set of mergers and acquisitions from SDC data from 1992 through 2009. We do not impose common restrictions such as excluding private bidders, small targets, or dealsExpand
What do returns to acquiring firms tell us? Evidence from firms that make many acquisitions
We study shareholder returns for firms that acquired five or more public, private, and/or subsidiary targets within a short time period. Since the same bidder chooses different types of targets andExpand
The Measurement of Relatedness: An Application to Corporate Diversification
Employing commodity flow data from input-output (IO) tables, we construct two IO-based measures to capture interindustry and intersegment vertical relatedness and complementarity. At the industryExpand
...
1
2
3
4
...