Download or read book A Logit Model for Predicting Takeover Targets in Corporate Mergers and Acquisitions written by Rachel L. Chueh and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Corporate Takeover Targets written by Hicham Meghouar and published by John Wiley & Sons. This book was released on 2016-03-31 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: The term "takeover", of which the first form is mergers and acquisitions (M&A), refers to the transfer of control of a business from one group of shareholders to another. Considering the importance of this issue and the real drives behind takeovers, it has become imperative to identifying companies that are vulnerable to takeover by two types: tender offer and exchange offer. This book thus presents the legal aspects, the theoretical justifications and the empirical contributions of takeovers, and analyzes the economic and financial characteristics of targets in order to assess the probability of being acquired. An empirical approach based on two quantitative studies is then applied to the European market, which is still virgin territory in terms of academic research. Finally, acquisition probability models have been developed and they have a 72% forecast accuracy average rate of targets. Corporate Takeover Targets is aimed at students and researchers in economic and management, as well as M&A consultants.
Download or read book Predicting Mergers and Acquisitions written by John Anthony D'Angelo and published by . This book was released on 2012 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Being able to predict a merger or acquisition before it takes place could lead to an investor earning a premium, if they owned shares of the targeted firm before the merger or acquisition attempt is announced. On average acquiring firms pay a premium when acquiring or merging with a targeted firm. This study uses publicly available financial information for 7,267 attempted takeover targets and 52,343 non-targeted firms for the period January 3, 2000 through December 31, 2007 to estimate (using logit) predictive models. Financial ratios are constructed based on six hypotheses found in the literature. Although statistical evidence supports a few of the hypotheses, the low predictive power of the models does not indicate the ability to accurately predict targeted firms ahead of time, let alone with any economic significance.
Download or read book Application of Quantitative Techniques for the Prediction of Bank Acquisition Targets written by Fotios Pasiouras and published by World Scientific. This book was released on 2005 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the banking industry has faced significant challenges due to deregulation, globalization, financial innovation, and intensified global competition. In response to these challenges, banks have adopted strategies to grow and expand their activities, with mergers and acquisitions (M & As) being one of the most popular over the last decade. This unique book thus discusses the use of quantitative classification methods for the prediction of bank acquisitions. With an overview of the M & A trends in the EU banking industry and a survey of the motives for M & As, the authors compare various statistical and computational methodologies used to analyze and predict bank acquisitions. The material constitutes a useful basis for researchers and practitioners in banking management to develop and analyze investment decisions related to M & As.
Download or read book Predicting Acquiring Firms written by Jean-Mathieu Gareau and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growth-resources hypothesis has been widely used empirically to develop models to predict takeover targets. This hypothesis states that firms with low (high) growth and high (low) resources make good potential targets. In this thesis I test this hypothesis in the context of predicting future acquirers. Using binary, multinomial and two-step logit models, I document that a firm's growth is actually the main factor leading to acquisitions, contrary to the generally accepted view that a firm's cash position is one of the primary factors associated with future acquisition activity. As such, the growth-resources imbalance hypothesis is partly validated: high growth-low resources firms are the most likely to make a bid while low growth-high resource firms which were expected to be the most likely to acquire, are, in fact, the least likely to take over other firms. These results are robust to different measures of the imbalance variables and are consistent with the market timing theory. In a hold out sample, I find that the binary logit models show higher prediction accuracy than the multinomial logit models.
Download or read book Predicting Acquiring Firms written by Jean-Mathieu Gareau and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Logit Model for the Identification of Likely Takeover Targets written by Mark Bertsch and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Use of Modern Machine Learning Techniques to Predict the Occurrence and Outcome of Corporate Takeover Events written by Georges Geha and published by . This book was released on 2021 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this project is to use machine learning to predict the occurrence of corporate takeovers. The findings show that random forest yields the best predictions out-of-sample based on the area under the curve (AUC) metric. As such, 8 independent variables are considered statistically significant. A time series machine learning approach is also used at the end of the study to predict these events in 2019 based on each company’s data from 2010 to 2018. Random forest is still determined as the model with the best out-of-sample performance. A strategy of investing equal amounts across the companies predicted to be takeover targets in 2019 based on the model yields a profit of 7.4%.
Download or read book Analyzing an Acquisition Model and Optimizing Stock Abnormal Return Using Simulation Techniques electronic Resource written by Liu, Ying and published by University of Waterloo. This book was released on 2003 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The relative economic efficiency of acquisitions as a means of restructuring financially distressed firms is investigated. Yearly accounting and daily stock price data are extracted for the period between 1979 and 1998 on firms entering financial distress The behaviour and performance of these firms were traced for a five year period following their entry into distress or until their shares were no longer trading. These collected data forms the basis for analyzing the returns acquired from investing in potential takeover targets. Survival analysis is used to analyze the hazard rate for both the acquisition and bankruptcy of distressed firms. The results of the analysis indicate that the ZSCORE, a predictor of the probability of failure, and SPCSRM, the rating by Standard and Poor℗s, can be used as financial indicators in the screening mechanisms for financially distressed firms. A multinomial-logit acquisition model is used to predict three outcomes of financially distressed firms: survival, acquisition and failure. This model is tested using two methods by simulating the probability of acquisition. The first uses to compare the predicted versus the actual corporate events to maximize the predicted acquisition event. The second uses to compute abnormal return to maximize portfolio return over a given time period, continual on the ZSCORE, probability of acquisition, and the length of holding period. The predictive model of the acquisition probability is applied as a stock entry rule in a buy-sell system. The success of the model will serve two purposes. One is to predict the economic value of acquisition. The other is to provide successful strategies for investing in stocks.
Download or read book Mergers and Acquisitions An Empirical Study of Selected Indian Companies written by Dr Leesa Mohanty and published by Archers & Elevators Publishing House. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Takeovers written by Ivan Fallon and published by Hamish Hamilton. This book was released on 1987 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mergers and Acquisitions Motivaton written by Simon Peck and published by Taylor & Francis. This book was released on 2002 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This set includes articles from the four main fields which have influenced the study of Mergers and Acquisitions: Economics, Finance, Strategic Management and Human Resource Management. Featuring the key papers by individuals who shaped the field, the collection presents these formative pieces in thematically grouped sections, including coverage of: * Perspectives on the modern business corporation and the role of mergers and acquisitions: historical, financial, strategic and management * Causes of mergers and acquisitions activity * Performance impact of mergers and acquisitions activity * Public policy and the corporation The set features a comprehensive index and original introductory material.
Download or read book The Liquidation Merger Alternative written by Michael J. Peel and published by Beard Books. This book was released on 2003 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a reprint of a previously published book. It deals with providing a rationale as to why some companies that appear to be on the brink of corporate collapse are taken over rather than entering into receivership. Do not put Lightning logo on cover.
Download or read book Application of Quantitative Techniques for the Prediction of Bank Acquisition Targets written by Fotios Pasiouras and published by World Scientific. This book was released on 2005 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the banking industry has faced significant challenges due to deregulation, globalization, financial innovation, and intensified global competition. In response to these challenges, banks have adopted strategies to grow and expand their activities, with mergers and acquisitions (M & As) being one of the most popular over the last decade. This unique book thus discusses the use of quantitative classification methods for the prediction of bank acquisitions. With an overview of the M & A trends in the EU banking industry and a survey of the motives for M & As, the authors compare various statistical and computational methodologies used to analyze and predict bank acquisitions. The material constitutes a useful basis for researchers and practitioners in banking management to develop and analyze investment decisions related to M & As.
Download or read book Encyclopedia of Optimization written by Christodoulos A. Floudas and published by Springer Science & Business Media. This book was released on 2008-09-04 with total page 4646 pages. Available in PDF, EPUB and Kindle. Book excerpt: The goal of the Encyclopedia of Optimization is to introduce the reader to a complete set of topics that show the spectrum of research, the richness of ideas, and the breadth of applications that has come from this field. The second edition builds on the success of the former edition with more than 150 completely new entries, designed to ensure that the reference addresses recent areas where optimization theories and techniques have advanced. Particularly heavy attention resulted in health science and transportation, with entries such as "Algorithms for Genomics", "Optimization and Radiotherapy Treatment Design", and "Crew Scheduling".
Download or read book Handbook of Financial Engineering written by Constantin Zopounidis and published by Springer Science & Business Media. This book was released on 2010-07-25 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive handbook discusses the most recent advances within the field of financial engineering, focusing not only on the description of the existing areas in financial engineering research, but also on the new methodologies that have been developed for modeling and addressing financial engineering problems. The book is intended for financial engineers, researchers, applied mathematicians, and graduate students interested in real-world applications to financial engineering.
Download or read book Corporate Takeover Targets written by Hicham Meghouar and published by John Wiley & Sons. This book was released on 2016-03-31 with total page 243 pages. Available in PDF, EPUB and Kindle. Book excerpt: The term "takeover", of which the first form is mergers and acquisitions (M&A), refers to the transfer of control of a business from one group of shareholders to another. Considering the importance of this issue and the real drives behind takeovers, it has become imperative to identifying companies that are vulnerable to takeover by two types: tender offer and exchange offer. This book thus presents the legal aspects, the theoretical justifications and the empirical contributions of takeovers, and analyzes the economic and financial characteristics of targets in order to assess the probability of being acquired. An empirical approach based on two quantitative studies is then applied to the European market, which is still virgin territory in terms of academic research. Finally, acquisition probability models have been developed and they have a 72% forecast accuracy average rate of targets. Corporate Takeover Targets is aimed at students and researchers in economic and management, as well as M&A consultants.
