Capital structure and acquisition decisions: investigation of zero-leveraged firms = 자본구조와 인수합병 의사결정: 무차입 기업에 대한 조사

Cited 0 time in webofscience Cited 0 time in scopus
  • Hit : 324
  • Download : 0
Using the US mergers and acquisitions (M&A) data between 1990 and 2012, this paper investigates how leverage affects various acquisition decisions More specifically, the paper classify firms into zero-leveraged, under-leveraged, and over-leveraged firms and examine whether the likelihood of undertaking an acquisition, premiums paid at acquisitions, and the method of payments differ across these leverage groups after controlling for other firm characteristics. In addition, the paper examines the relationship between ac-quirer’s and target’s leverages and how the relationship affects the post-acquisition performance. As a result, zero-leveraged (over-leveraged) firms are more (less) likely to use cash in their offer and acquire zero-leveraged target firms.
Advisors
Lee, In-Mooresearcher이인무
Description
한국과학기술원 : 경영공학부,
Publisher
한국과학기술원
Issue Date
2014
Identifier
569796/325007  / 020123317
Language
eng
Description

학위논문(석사) - 한국과학기술원 : 경영공학부, 2014.2, [ iii, 35 p. ]

Keywords

Target capital structure; 지불방식; 인수합병; 무차입; 적정 자본구조; Payment method; Zero-leverage; Mergers and acquisitions

URI
http://hdl.handle.net/10203/197164
Link
http://library.kaist.ac.kr/search/detail/view.do?bibCtrlNo=569796&flag=dissertation
Appears in Collection
MT-Theses_Master(석사논문)
Files in This Item
There are no files associated with this item.

qr_code

  • mendeley

    citeulike


rss_1.0 rss_2.0 atom_1.0