Takeover announcements open offers, and shareholders return  in target firms

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DC Field	Value	Language
dc.contributor.author	Pandey, Ajay
dc.date.accessioned	2010-10-19T06:24:00Z
dc.date.available	2010-10-19T06:24:00Z
dc.date.copyright	2001
dc.date.issued	2001-10-19T06:24:00Z
dc.identifier.uri	http://hdl.handle.net/11718/9772
dc.description	Vikalpa, Vol. 26, No. 3, (July-September, 2001), pp. 19-30	en
dc.description.abstract	The empirical studies in the context of developed countries have consistently pointed out substantial valuation gains for target firms, particularly in case of successful takeovers. This effect has been "found to be higher for tender offers compared to mergers and proxy contests, the other forms of plays in the market for corporate control. Subsequent to enactment of takeover enabling regulations in 1997 in India, takeovers and substantial acquisition of shares necessitate making open offer to the investors. Based on the empirical investigation of 14 large (above Rs 10 crore) takeover related open offers using event study methodology, we document significant announcement effect (» 10%) associated with the takeovers in Indian capital market. We also find that the target firm valuations increase in the runup to announcement.
dc.language.iso	en	en
dc.subject	Takeover	en
dc.subject	Target	en
dc.title	Takeover announcements open offers, and shareholders return in target firms	en
dc.type	Article	en
Appears in Collections:	Journal Articles

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