DRIVERS OF AUSTRALIAN MERGER WAVES: INDUSTRY SHOCKS, MISVALUATION AND CAPITAL LIQUIDITY,Used

DRIVERS OF AUSTRALIAN MERGER WAVES: INDUSTRY SHOCKS, MISVALUATION AND CAPITAL LIQUIDITY,Used

In Stock
SKU: DADAX3838357426
Brand: LAP Lambert Academic Publishing
$83.54 $119.34
Save $35.80
Quantity
Add to wishlist
Add to compare

Processing time: 1-3 days

US Orders Ships in: 3-5 days

International Orders Ships in: 8-12 days

Return Policy: 15-days return on defective items

Payment Option
Payment Methods

Help

If you have any questions, you are always welcome to contact us. We'll get back to you as soon as possible, withing 24 hours on weekdays.

Customer service

All questions about your order, return and delivery must be sent to our customer service team by e-mail at yourstore@yourdomain.com

Sale & Press

If you are interested in selling our products, need more information about our brand or wish to make a collaboration, please contact us at press@yourdomain.com

The purpose of this thesis is to test the extended industry shock hypothesis, which accounts for a macroeconomic capital liquidity element, in determining the drivers of merger waves. Various theories have been extended by the literature and these are broadly classified under the neoclassical theory of merger waves and the behavioural theory of merger waves. Behavioural theories have explained merger waves by taking into account the psychology of stock markets and the occurrence of merger waves during a stock market boom. The industry shock hypothesis (a neoclassical theory) however, argues that merger waves are due to the clustering of industry shocks that affect an industry?s operating environment. Along with this shock, the misvaluation caused by a stock market boom increases asset values, thereby lowering transaction costs and hence increasing capital liquidity in the economy. This capital liquidity factor causes merger waves to cluster even if industry shocks do not.

⚠️ WARNING (California Proposition 65):

This product may contain chemicals known to the State of California to cause cancer, birth defects, or other reproductive harm.

For more information, please visit www.P65Warnings.ca.gov.

Recently Viewed