Acquisition Targets and Motives: The Case of the Banking Industry
Acquisition Targets and Motives: The Case of the Banking Industry
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收购目标和动机：银行业案例
DOI：
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发表时间：
1987
期刊：
影响因子：
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通讯作者：
S. Rhoades
中科院分区：
文献类型：
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作者：
Timothy H. Hannan;S. Rhoades
研究结果并不表明管理不善的公司更有可能被收购比管理良好的公司。该分析使用了1970年存在的1,046家德克萨斯州银行的样本，其中201家是在1970年至1982年期间收购的。多项logit程序被用来估计收购的可能性和目标公司及其市场的特点之间的关系。另外的研究结果表明，具有较大的市场份额，低资本/资产比率，并在城市地区的业务的公司是相对可能被收购，但不是低利润或低增长的公司。版权所有1987年由麻省理工学院出版社。
Findings do not indicate poorly-managed firms are more likely to be acquired than well-managed firms. The analysis uses a sample of 1,046Texas banks that existed in 1970, out of which 201 were acqui red during the period 1970-82. A multinomial logit procedure is used to estimate the relationship between the likelihood of acquisition and the characteristics of the target firm and its market. Additional results suggest that firms with la rge market shares, low capital/asset ratios, and operations in urban areas are r elatively likely to be acquired but not firms with low profits or low growth. Copyright 1987 by MIT Press.