The Importance of the Bidder Motive in the Wealth Effect of Takeovers

C. Phelizon

Papiers d'Economie Mathématique et Applications from Université Panthéon-Sorbonne (Paris 1)

Abstract: Event studies on shareholder wealth effects of American and French takeovers find out that targets clearly gain, and bidders do not lose. We estimate in this study the abnormal returns associated with takeovers in the French market during the period of intense acquisition activity of 1991 - 1997.

Keywords: MERGERS; ENTERPRISES (search for similar items in EconPapers)
JEL-codes: G34 G30 (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:fth:pariem:2000.51

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