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dc.contributor.authorTrimbath, Susanne-
dc.contributor.authorFrydman, Halina-
dc.contributor.authorFrydman, Roman-
dc.description.abstractThis study, using the Cox proportional hazards model, finds that the risk of takeover rises with cost inefficiency. It also finds that a firm faces a significantly higher risk of takeover if its cost performance lags behind its industry benchmark. Moreover, these findings appear to be remarkably stable over the nearly two decades spanned by the sample. The effect of the variables used to measure the risk-size relationship, however, indicates temporal changes. Lastly, the study presents evidence from fixed-effects models of ex post cost efficiency improvements that support the hypothesis that takeover targets are selected based on the potential for improvement.en
dc.format.extent140203 bytes-
dc.publisherStern School of Business, New York Universityen
dc.subjectcorporate finance and governanceen
dc.subjecteconometric methodsen
dc.subjectmodels with panel dataen
dc.subjecttruncated and censored modelsen
dc.titleCost Inefficiency, Size of Firms and Takeoversen
dc.typeWorking Paperen
dc.description.seriesStatistics Working Papers SeriesEN
Appears in Collections:IOMS: Statistics Working Papers

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