Are serial acquirers good targets for acquisition? An accounting perspective

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dc.contributor.authorNnadi, Matthias Akandu
dc.contributor.authorTanna, S.
dc.date.accessioned2017-03-15T12:08:00Z
dc.date.available2017-03-15T12:08:00Z
dc.date.issued2016-12-31
dc.description.abstractThis study uses the positivist agency theory to examine if serial acquirers with consistently negative cumulative abnormal returns over their past acquisitions are more likely to become targets themselves. The study is based on the assumption that firms that make repeated value reducing acquisitions and depress their stock price are more attractive targets than firms that make good returns to their shareholders through acquisitions, and whose share prices increase correspondingly. Our findings show that serial acquirers that are considered bad bidders are more likely to become targets themselves compared to those that are considered good bidders. While this is the case in the USA and Europe, we find limited evidence to show that the same disciplinary tool is applicable in other parts of the world.en_UK
dc.identifier.citationNnadi M, Tanna S. (2017) Are serial acquirers good targets for acquisition? An accounting perspective, International Journal of Bonds and Derivatives, Volume 2, Issue 4, 2017, pp. 344-364en_UK
dc.identifier.issn2050-2281
dc.identifier.urihttp://dx.doi.org/10.1504/IJBD.2016.10002367
dc.identifier.urihttp://dspace.lib.cranfield.ac.uk/handle/1826/11604
dc.language.isoenen_UK
dc.publisherInderscienceen_UK
dc.rightsCC BY 3.0 Unported
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/
dc.rights.uri
dc.subjectdisciplinary toolsen_UK
dc.subjectbad biddersen_UK
dc.subjectgood biddersen_UK
dc.subjecttakeoversen_UK
dc.subjectserial acquirersen_UK
dc.subjectaccountingen_UK
dc.subjectshareholder returnsen_UK
dc.subjectpostivist agency theoryen_UK
dc.subjectvalue reducing acquisitionsen_UK
dc.subjectstock pricesen_UK
dc.subjectshare pricesen_UK
dc.titleAre serial acquirers good targets for acquisition? An accounting perspectiveen_UK
dc.typeArticleen_UK

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