Do early birds get the returns? An empirical investigation of early‐mover advantages in acquisitions

By Kenneth A. Carow, Randall A. Heron, Todd Saxton. 2004

256 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/d30c156d36e4b9c33b304a58b711803ca7592c2a

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Citations in the corpus

Corporate Social Responsibility Reporting in China: Symbol or Substance? (2011, unknown): “To control for firm size, we scaled slack resources by total assets (Carow et al. 2004).”
Risk and the strategy of foreign location choice in regulated industries (2008, background): “Tobin’s q proxies the firm’s intangible assets (e.g., Berry 2006) and investment opportunities (e.g., Carow, Heron, and Saxton, 2004 ).”
Owners on Both Sides of the Deal: Mergers and Acquisitions and Overlapping Institutional Ownership (2008, background): “Following Carow, Heron, and Saxton (2004), we included operating cash flows scaled by firm assets as a control.”
The Entry Strategy of Retail Firms into Transition Economies (2007, background): “Other players may believe that the pioneer exploits information asymmetry and can capitalize on superior information to identify interesting market opportunities better or more quickly (Carow, Heron, and Saxton 2004; Lieberman and Montgomery 1988).”
Entry Timing (2015, background): “For instance, Carow, Heron, and Saxton (2004) provide empirical evidence of abnormal returns for early movers within industry merger waves.”
Measuring the Performance of Corporate Acquisitions: An Empirical Comparison of Alternative Metrics (2006, unknown): “Carow, Heron and Saxton, 2004; Datta and Puia, 1995), or”
Effects of Firm R&D Investment and Environment on Acquisition Likelihood* (2006, unknown): “Additionally, early acquirers in consolidating industries often ‘select’ the best targets and leave later acquirers with a decreased and less desirable pool of targets from which to select (Anand and Singh, 1997; Carow et al., 2004).”
The Performance Implications of Participating in an Acquisition Wave: Early Mover Advantages, Bandwagon Effects, and The Moderating Influence of Industry Characteristics and Acquirer Tactics (2008, methodology): “In a recent study on this question, Carow et al. (2004) examined the performance implications of acquisitions within waves.”
Selection Capability: How Capability Gaps and Internal Social Frictions Affect Internal and External Strategic Renewal (2009, background): “In turn, the literature on acquisitions and alliances shows that external sourcing facilitates technological and commercial renewal by exposing the firm to new technological domains, product environments, and geographic markets (Carow et al. 2004, Krishnan et al. 2004).”
The danger of misinterpreting short-window event study findings in strategic management research: an empirical illustration using horizontal acquisitions (2008, background): “…events 15 to 5 Combs and Skill Unexpected CEO successions 0 to 1 (2003) Shen and Cannella CEO successions 1 to 1 (2003) Arend (2004) Alliances 0 Carow et al. (2004) First-movers in acquisition waves 1 to 1, 5 to 5 Harris and Acquisitions and directors 5 to 2 Shimizu (2004) Nixon et al. (2004)…”