Corporate takeovers and factors affecting bidder stock returns : Australian evidence

Michel, Patrick R. P. (1994). Corporate takeovers and factors affecting bidder stock returns : Australian evidence Honours Thesis, School of Business, The University of Queensland.

       
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Author Michel, Patrick R. P.
Thesis Title Corporate takeovers and factors affecting bidder stock returns : Australian evidence
School, Centre or Institute School of Business
Institution The University of Queensland
Publication date 1994
Thesis type Honours Thesis
Total pages 99
Language eng
Subjects 14 Economics
Formatted abstract This study examines the abnormal returns of bidding firms around the announcement of a takeover in Australia. More specifically, it aims to develop a more complete model to better explain what determines bidder returns. The abnormal returns of bidders are hypothesised to be a function of the outcome of the bid, the method of payment, the number of bidders and the relative size of the target. The results reveal that the method of payment is the only factor consistently significant in explaining bidder returns. The results regarding the other factors are in the expected direction but statistically insignificant.

 
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