Mergers and acquisitions(M&A) are a means of achieving globalization, inorganic growth, accessing the newest technologies, and enhancing capitalization. Glueck [12] indicated M&A is a way that firm pursuit external growth. There are many studies on the abnormal re- turns and announcement effects of mergers and acquisitions, but few papers focus on hostile takeovers. This paper applies the event study method to examine hostile takeovers in the electronic industry around the world and delve into the abnormal returns of the acquirers and the targets. The data on hostile takeovers in 1981-2016 are sourced from Security Data Company (SDC). The historical share prices are obtained from DataStream. The purpose is to validate the presence of significant abnormal returns on acquirers and targets and compare the abnormal returns between the acquirers and the targets, as well as between non-electronic industry companies and electronic industry companies in hostile takeovers.
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