Operating Performance and the Method of Payment in Takeovers

By Randall A. Heron, Erik Lie. Journal of Financial and Quantitative Analysis, 2002

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Mergers and acquisitions in and out of emerging economies (2015, neutral): “…ownership structure (Wright, Kroll, Lado, & van Ness, 2002), management characteristics (Krishnan, Miller, & Judge, 1997), previous performance (Heron & Lie, 2002), firm size (Moeller, Schlingemann, & Stulz, 2004), prior acquisition experience (Haleblian & Finkelstein, 1999), and environmental…”
Funding Gaps? Access To Bank Loans By High-Tech Start-Ups (2007, positive): “13 For applications of the same model in a very similar context even if dealing with different topics, see for instance Kortum and Lerner (1998), Beugelsdijk and Cornet (2002), Heron and Lie (2002), Audretsch and Lehmann (2004), and Laursen and Salter (2005).”
The Long-Term Operating Performance of European Mergers and Acquisitions (2006, neutral): “While earlier studies confirm these conjectures (Healy et al., 1992; Heron and Lie, 2002), later studies find the relationship between diversifying takeovers and poor post-merger performance insignificant (Powell and Stark, 2005; Linn and Switzer, 2001; Switzer, 1996; Sharma and Ho, 2002).”
Market Valuation and Acquisition Quality: Empirical Evidence (2009, background): “As in Fuller, Netter and Stegemoller (2002) and Heron and Lie (2002), we define a cash acquisition as any acquisition in which the total transaction value was paid in cash, non-convertible debt or non-convertible preferred stock.”