Ex post discrimination of takeover targets

Dharmawan, Alphonsus A. (1989). Ex post discrimination of takeover targets Honours Thesis, Dept. of Commerce, The University of Queensland.

       
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Author Dharmawan, Alphonsus A.
Thesis Title Ex post discrimination of takeover targets
School, Centre or Institute Dept. of Commerce
Institution The University of Queensland
Publication date 1989
Thesis type Honours Thesis
Total pages 95
Language eng
Subjects 14 Economics
Formatted abstract Many' researchers in the takeover and acquisition area claim that their models are able to predict takeover targets with a high degree of accuracy using publicly available information from six to twelve months in advance. This thesis asserts that the results of early acquisition research may be driven by some methodological flaws. In this paper some of the methodological errors are corrected and differences in the financial characteristics of target and non-target firms are assessed using Multiple Discriminant Analysis and a pair-design sample methodology in which target firms are matched with non-target firms on the basis of industry and size. The results indicate that it is not possible for an investor to earn abnormal returns by utilizing publicly available information.

Document type: Thesis
Collection: UQ Theses (non-RHD) - UQ staff and students only
 
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