When waiting is strategic: Evidence from Colombian M&As 1995–2008
This study looks into the behavior of privately held firms in Colombia that participate in waves of mergers and acquisitions between 1995 and 2008. The study finds evidence in which experienced firms that perform mergers and acquisitions late in waves show stronger performance as measured by their r...
- Autores:
-
Rodríguez Jenny Esperanza
Sánchez, Iván Dario
Andonova, Veneta
- Tipo de recurso:
- Article of investigation
- Fecha de publicación:
- 2013
- Institución:
- Universidad ICESI
- Repositorio:
- Repositorio ICESI
- Idioma:
- spa
- OAI Identifier:
- oai:repository.icesi.edu.co:10906/79782
- Acceso en línea:
- http://www.sciencedirect.com/science/article/pii/S0148296313000088
http://hdl.handle.net/10906/79782
https://doi.org/10.1016/j.jbusres.2013.01.006
- Palabra clave:
- Economía
Negocios y management
Economics
Business
Internet
Comportamiento del consumidor
Empresas
- Rights
- openAccess
- License
- https://creativecommons.org/licenses/by-nc-nd/4.0/
| Summary: | This study looks into the behavior of privately held firms in Colombia that participate in waves of mergers and acquisitions between 1995 and 2008. The study finds evidence in which experienced firms that perform mergers and acquisitions late in waves show stronger performance as measured by their return on assets. The firms that fall prey to the bandwagon effect and perform M&As at the peak of a wave show the weakest performance in munificent industries. The study discusses the rationality behind strategic waiting in environments with lax contract enforcement and limited information about acquisition targets. |
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