When do acquirers earn abnormal returns

By Laurence Capron, N. Pistre. 2002

429 citations recorded by the source corpus.

Subfields: Accounting, Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/7f8473a9abf5362fca80fc811ef79c40be486347

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In Management Science and Operations Research

Citations in the corpus

Critical success factors through the Mergers and Acquisitions process:revealing pre- and post- M&A connections for improved performance (2013, background): “A study that has attempted to identify the effect on performance across phases is by Capron and Pistre (2002), who examine evaluation of the partner (Pre1) through consideration of the extent to which due diligence could be progressed thoroughly before striking the acquisition deal, with…”
Cultural differences, convergence, and crossvergence as explanations of knowledge transfer in international acquisitions (2010, background): “For example, the empirical studies of Capron (1999) and Capron and Pistre (2002) showed that knowledge transfer was connected to abnormal returns in acquisitions.”
Andrew Carnegie and the foundations of contemporary entrepreneurial philanthropy (2011, background): “…corporate control, restructuring and industrial concentration, simultaneously presenting new opportunities and challenges to develop capabilities and win competitive advantage (Anand, Capron, & Mitchell, 2005; Barney, 1991; Capron & Pistre, 2002; Karim & Mitchell, 2000; Vermeulen & Barkema, 2001).”
Performance Implications of Firm Resource Interactions in the Acquisition of R&D-Intensive Firms (2008, background): “In particular, R&D resources are imperfectly immobile, and acquirers not only seek but will retain such resources to keep such specialized knowledge from rival firms (Capron and Pistre 2002).”
Cultural differences and capability transfer in cross-border acquisitions: the mediating roles of capability complementarity, absorptive capacity, and social integration (2007, methodology): “on previous research on both acquisitions (Capron, 1999; Capron and Pistre, 2002) and MNC units in general (e.”
The Influence of Acquisition Experience and Performance on Acquisition Behavior: Evidence From the U.S. Commercial Banking Industry (2006, methodology): “…performance as an outcome variable (King, Dalton, Daily, & Covin, 2003) and has examined the effects of firm, deal, and industry characteristics on acquisition outcomes (e.g., Bergh, 1997; Bergh & Lawless, 1998; Capron & Pistre, 2002; Chatterjee, Harrison, & Bergh, 2003; Ramaswamy, 1997).”
Meta-analyses of Post-acquisition Performance: Indications of Unidentified Moderators (2004, result): “…sufﬁcient for the present meta-analyses, both theory and initial empirical results suggest that complementary resources may help explain observed acquisition activity and predict post-acquisition performance (Barney, 1988; Capron et al ., 1998; Capron and Pistre, 2002; King et al ., 2003).”
Target Reputation and Appropriability: Picking and Deploying Resources in Acquisitions (2004, background): “…the integration of target resources into the acquirer; further investigation of the resources that the acquirer infused into the target and finer grained analysis of the types of resources involved may have yielded additional findings of interest (Capron & Pistre, 2002; Capron et al., 2001).”
Learning to internationalise: the pace and success of foreign acquisitions (2007, background): “…including abnormal stock returns (Chatterjee and Lubatkin, 1990; Datta et al., 1992; Kaplan and Weisbach, 1989; Haleblian and Finkelstein, 1999; Capron and Pistre, 2002; Hayward, 2002; Pangarkar and Lie, 2004), accounting figures (Brush, 1996; Morosini et al., 1998; King et al., 2004),…”
The danger of misinterpreting short-window event study findings in strategic management research: an empirical illustration using horizontal acquisitions (2008, background): “…to a corporate event announcement as the ‘value’ or ‘wealth’ created by the event, rather than the market’s evaluation of the value it is expected to create (e.g. Capron and Pistre, 2002; Kumar, 2005; Merchant and Schendel, 2000; Reuer and Miller, 1997; Shelton, 1988; Shen and Canella, 2003).”
All Aspirations are not Created Equal: The Differential Effects of Historical and Social Aspirations on Acquisition Behavior (2014, methodology): “Although the CAR is the most frequently used analytic approach for measuring acquisition performance in prior research in strategy (e.g., Capron & Pistre, 2002; Hayward, 2002) and finance (e.g., Kaplan & Weisbach, 1992; Mitchell & Lehn, 1990), it is a measure of expected rather than realized…”
Acquisition Announcements and Stock Market Valuations of Acquiring Firms’ Rivals: A Test of the Growth Probability Hypothesis in China (2011, positive): “In the case of operational synergy, the acquiring firm experiences improved efficiency, often as a result of resource transfers between the acquirer and the target (Capron and Pistre, 2002).”
Dominant Logic and Entrepreneurial Firms‘ Performance in a Transition Economy (2010, result): “Our final response rate of 16% is comparable with other large-scale questionnaire-based studies (Capron & Pistre, 2002; Weinstein & Obloj, 2002).”