Does M&A Pay? A Survey of Evidence for the Decision-Maker

By Robert F. Bruner. 2004

421 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/28d1a0bf48d0f8b9bb9c9db139681881089a9d5e

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Citations in the corpus

Value creation from M&As: New evidence (2017, unknown): “Such extraordinary developments have the potential to positively influence the quality 1 See for example Mueller (1997), Andrade, Mitchell and Stafford (2001), Damodaran (2005), Bruner (2002), Moeller, Schlingemann and Stulz (2005), Boston Consulting Group (2007), Betton et al. (2008), among others.”
The Desire to Acquire and IPO Long-Run Underperformance (2012, background): “(Bruner (2002)) Why do newly public firms perform poorly in the years following their initial public offerings (IPOs)?”
Shareholder Value Creation in European M&As (2004, unknown): “(1992) and Bruner (2002). 2.1. Cumulative abnormal returns to target firms Target firm shareholders enjoy returns that are on average significantly positive in almost all cases. The findings of 13 studies, summarised in panel A of Table 1, reveal returns that are economically significant, despite va”
The merger paradox and why aspiration levels let it fail in the laboratory (2007, unknown): “See also the meta-analysis by Bruner (2002) who surveys 130 previous studies on this very question.”
Mars–Venus marriages: Culture and cross-border M&A (2009, unknown): “In a recent survey article, Bruner (2002) summarizes the findings of 130 studies conducted during 1971-2001.”
Learning mechanisms and differential performance in alliance portfolios (2007, result): “In spite of contradictory findings in, for instance, the merger and acquisitions (M&A) literature (Bruner, 2002), there is emerging evidence in extant alliance literature that prior alliance experience improves overall alliance performance (Anand and Khanna, 2000; Sampson, 2005).”
CEO Overconfidence and International Merger and Acquisition Activity (2013, unknown): “…and Mullins (1983), Jensen and Ruback (1983), Bradley, Desai, and Kim (1988), Franks, Harris, and Titman (1991), Agrawal, Jaffe, and Mandelker (1992), Loughran and Vijh (1997), Rau and Vermaelen (1998), Bruner (2002), Fuller, Netter, and Stegemoller (2002), and Bouwman, Fuller, and Nain (2009).”
One Share - One Vote: The Theory (2007, background): “…US, have a large 4There are several reviews of the takeover literature, including Andrade et al. (2001), Bhagat et al. (1990), Becht et al. (2003), Bruner (2002), Burkart and Panunzi (2006), Holmström and Kaplan (2001), Hirshleifer (1995), Jensen (1988), McCahery et al. (2004), Scherer (1988) and…”
Cross-Border M&As by Chinese Firms: An Analysis of Strategic Motivation and Performance (2008, background): “For example, a review study carried out by Bruner (2002) reported that out of the 44 studies he surveyed 24 reported positive returns with 20 reporting negative returns for the acquiring firms.”
Market Valuation and Acquisition Quality: Empirical Evidence (2009, background): “For evidence on announcement-day returns and post-acquisition returns, see Asquith (1983), Jensen and Ruback (1983), Dennis and McConnell (1986), Bradley, Desai and Kim (1988), Franks, Harris and Titman (1991), Agrawal, Jaffe and Mandelkar (1992), Loughran and Vijh (1997), Rau and Vermaelen (1998), ”
Do cross-border mergers and acquisitions increase short-term market performance? The case of Chinese firms (2017, background): “Bruner (2002) suggested that in the aggregate, abnormal returns to shareholders of U.S. acquiring firms are essentially zero.”