Hostname: page-component-78c5997874-m6dg7 Total loading time: 0 Render date: 2024-11-15T10:55:59.235Z Has data issue: false hasContentIssue false
  • English
  • Français

Comment: A Financial Analysis of Acquisition and Merger Premiums

Published online by Cambridge University Press:  19 October 2009

Keith V. Smith
Get access Rights & Permissions [Opens in a new window]

Extract

Professors Nielsen and Melicher (N-M) have conducted well an interesting study of merger premiums as related to various measures of synergy connected with those mergers. Their study is another in a growing body of literature concerned with the merger phenomenon which increased substantially during the sixties and has continued into this decade. In order to provide an evaluation of their study, I shall consider their choice of research design and their analysis of research findings.

Type
Discussants
Information
Journal of Financial and Quantitative Analysis , Volume 8 , Issue 2 , March 1973 , pp. 159 - 162
Copyright
Copyright © School of Business Administration, University of Washington 1973

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

[1]Altman, E. I. “Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy.” Journal of Finance, vol. 23 (September 1968), pp. 589–609.CrossRefGoogle Scholar
[2]Beaver, W. H. “Financial Ratios as Predictors of Failure.” Empirical Research in Accounting, Selected Studies. Institute of Professional Accounting, January 1967, pp. 71–111.Google Scholar
[3]Dince, R. R., and Fortson, J. C.. “The Use of Discriminant Analysis to Predict the Capital Adequacy of Commercial Banks.” Journal of Bank Research, vol. 3 (Spring 1972), pp. 54–62.Google Scholar
[4]Fisher, R. A. “The Statistical Utilization of Multiple Measurements.” Annals of Eugenics, vol. 8 (September 1938), pp. 376–386.CrossRefGoogle Scholar
[5]Lubin, A. “Linear and Non-Linear Discriminating Functions.” British Journal of Psychology—Statistical Section, vol. 3 (June 1950), pp. 90–104.CrossRefGoogle Scholar
[6]Myers, J. H., and Forgy, E. W.. “The Development of Numerical Credit Evaluation Systems.” Journal of the American Statistical Association, vol. 58 (September 1963), pp. 799–806.CrossRefGoogle Scholar
[7]Pinches, G. E., and Mingo, K. A.. “A Multivariate Analysis of Industrial Bond Ratings.” Journal of Finance. Forthcoming.Google Scholar
[8]Smith, K. V. “Classification of Investment Securities Using Multiple Discriminant Analysis.” Institute Paper #101. Krannert Graduate School of Industrial Administration, Purdue University, January 1965.Google Scholar
[9]Walter, J. E. “A Discriminant Function for Earnings-Price Ratios of Large Industrial Corporations.” Review of Economics and Statistics, vol. 41 (February 1959), pp. 44–52.Google Scholar
[10]Weston, J. F.Managerial Finance. New York, N.Y.: Holt, Rinehart and Winston, Inc., 1962.Google Scholar