The Market for Mergers and the Boundaries of the Firm

By Matthew Rhodes-Kropf, David T. Robinson. 2004

413 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/010184723b4467284e13a9b08bbcdbe87dce7f57

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Citations in the corpus

Post-Merger Restructuring and the Boundaries of the Firm (2011, neutral): “We also provide secondary evidence on whether operating gains in mergers are related to operating synergies or complementarities suggested by Rhodes-Kropf and Robinson (2008).”
Organization Capital and Mergers and Acquisitions (2017, positive): “Alternatively, Rhodes-Kropf and Robinson (2008) suggest a theory of complementary mergers in which high-quality firms endogenously match with other high-quality firms.”
The Effect of Cultural Similarity on Mergers and Acquisitions: Evidence from Corporate Social Responsibility (2018, positive): “…is intended to control for time, industry, firm size, growth opportunities, and overvaluation that have been shown to drive M&A deals (e.g., Andrade, Mitchell, and Stafford, 2001; Shleifer and Vishny, 2003; Rhodes-Kropf and Viswanathan, 2004; Harford, 2005; Rhodes-Kropf and Robinson, 2008).22”
Implications of Data Screens on Merger and Acquisition Analysis: A Large Sample Study of Mergers and Acquisitions from 1992 to 2009 (2011, background): “In the middle, and more typical, are studies such as Fuller, Netter and Stegemoller (2002) with 3,135 target 4 firms, Rhodes-Kropf and Robinson (2008) with 3,400 deals and Andrade, Mitchell and Stafford (2001) with 3,688 deals.”
A century of corporate takeovers: What have we learned and where do we stand? (2008, background): “In contrast, Rhodes-Kropf and Robinson (2004) substantiate that high-Q acquirers typically do not purchase low-Q targets.”
Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis (2010, positive): “4 Hackbarth and Miao (2009) present a new theory examining the role of synergies in an oligopoly setting, and Rhodes-Kropf and Robinson (2008) also consider synergies through asset complementarities as a motive for mergers.”
Productivity, Restructuring, And The Gains From Takeovers (2013, positive): “Rhodes-Kropf and Robinson (2008) argue that the complementary nature of target’s asset to acquirer’s asset and target’s expected future gains determine its bargaining position.”
Has the U.S. Finance Industry Become Less Efficient? on the Theory and Measurement of Financial Intermediation (2015, positive): “Rhodes-Kropf and Robinson (2008) show that M&As differ from other types of investment and require specific search efforts.”
The Importance of Industry Links in Merger Waves (2012, positive): “Rhodes-Kropf and Robinson (2008) present a search model of mergers based on the property rights theory of the firm (Hart, 1995) where asset complementarities increase the synergy gains of a merger.”
Anticipation, Acquisitions and Bidder Returns: Industry Shocks and the Transfer of Information Across Rivals (2011, positive): “For example, Rhodes-Kropf and Robinson (2008) suggest that market prices adjust with each industry acquisition until opportunities are exhausted.”
Corporate social responsibility and M&A uncertainty (2019, neutral): “important role in the wealth gains of acquiring firms’ shareholders (Shleifer and Summers, 1988; Rhodes-Kropf and Robinson, 2008; Masulis et al., 2016; Liang et al., 2017).”
Bargaining power and industry dependence in mergers (2012, methodology): “Also, the acquirer’s market-to-book ratio is significantly negatively related to the target’s gain in all specifications, consistent with Rhodes-Kropf and Robinson (2008).”