26. Mergers and Acquisitions

  1. H. Kent Baker and
  2. John R. Nofsinger
  1. Ming Dong

Published Online: 29 NOV 2011

DOI: 10.1002/9781118258415.ch26

Behavioral Finance: Investors, Corporations, and Markets

Behavioral Finance: Investors, Corporations, and Markets

How to Cite

Dong, M. (2010) Mergers and Acquisitions, in Behavioral Finance: Investors, Corporations, and Markets (eds H. K. Baker and J. R. Nofsinger), John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118258415.ch26

Author Information

  1. Associate Professor of Finance, York University

Publication History

  1. Published Online: 29 NOV 2011
  2. Published Print: 20 SEP 2010

ISBN Information

Print ISBN: 9780470499115

Online ISBN: 9781118258415

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Keywords:

  • mergers and acquisitions;
  • high stock valuations;
  • takeover activity;
  • market misvaluation;
  • stock market inefficiencies

Summary

This chapter contains sections titled:

  • Introduction

  • The Shleifer and Vishny Model

  • How Do Bidder and Target Valuations Affect Offer Characteristics?

  • Do Bidders Benefit from Market-Driven Acquisitions in the Long Run?

  • Does Market Misvaluation Drive Merger Waves?

  • Acquisitions Involving Unlisted Firms

  • Managerial Overconfidence, Prospect Theory, and Envy

  • Summary and Conclusions

  • Discussion Questions

  • About the Author