The Choice of Payment Method in European Mergers and Acquisitions

By Mara Faccio, Ronald W. Masulis. 2005

747 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/ed43356be22400dfe7c70d2e8847930a179926db

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Citations in the corpus

Capital Structure Decisions: Which Factors are Reliably Important? (2009, positive): “However, as shown by Fama and French (2002) and Frank and Goyal (2003), the theory has other problems.(6) In its current form, the pecking order theory is not helpful in organizing many of the features we see in the way firms finance themselves. The market timing theory makes correct predictions for”
Credit Ratings and the Choice of Payment Method in Mergers and Acquisitions (2014, positive): “Consistent with Faccio and Masulis (2005) and Harford et al. (2009), we also take into account the target status.”
Failure and success in mergers and acquisitions (2019, neutral): “Faccio and Masulis (2005) focus on corporate control concerns in a sample of European takeovers where concentrated (family)”
Family Business Groups around the World: Financing Advantages, Control Motivations and Organizational Choices (2011, background): “Second, groups can also prefer debt funding because issuing equity risks a loss of control (Faccio and Masulis (2005)).”
Director Networks and Takeovers (2013, background): “Faccio and Masulis (2005) document that a change in the corporate control structure – for instance, by means of voting power dilution or the emergence of an outside blockholder - may discourage bidders from paying for the acquisition with equity.”
The Pre-Deal Phase of Mergers and Acquisitions: A Review and Research Agenda (2020, background): “…to the general attractiveness of the prospective target (Malmendier, Opp, & Saidi, 2016), tax considerations (Brown & Ryngaert, 1991), distribution of power among acquirer shareholders (Faccio & Masulis, 2005), and the sensitivity of the bidder and target to market-related risk (Officer, 2004).”
Inside Debt and Mergers and Acquisitions (2014, positive): “, Dong, Hirshleifer, Richardson, and Teoh (2006), and Faccio and Masulis (2005)), I include the following variables as controls: market-to-book ratio, market leverage, momentum, diversifying dummy, relative size, target size, target public status, and industry and year fixed effects.”
The Sources of Value Destruction in Acquisitions by Entrenched Managers (2012, neutral): “Following Loughran and Ritter (2004), Faccio and Masulis (2005), and Masulis et al. (2007), tech firms involve computer hardware {SIC codes 3571, 3572, 3575, 3577, 3578}; communications equipment {3661,3663,3669}; electronics {3671, 3672, 3674, 3675, 3677, 3678, 3679}; navigation equipment {3812}; m”
High-level politically connected firms, corruption, and analyst forecast accuracy around the world (2010, background): “Corporate political connections have been a topical research issue since the recent publication of several important studies on the matter (Faccio, 2006, 2009; Faccio & Masulis, 2005; Faccio & Parsley, 2006; Leuz & Oberholzer-Gee, 2006).”
Value creation from M&As: New evidence (2017, positive): “Given the evidence on the relation between firm valuation and payment method (see for example Dong at al., 2006; Faccio and Masulis, 2005), this may also partly explain the plunge in the share of equity consideration ( STOCK ) in acquisition offers during this period.”
What Determines the Financing Decision in Corporate Takeovers: Cost of Capital, Agency Problems, or the Means of Payment? (2008, methodology): “The Threat of Control Change: CONTROL THREAT (”