The value of a merger and its optimal timing

In this article, we study a firm's merger strategy. When two firms merge, there are two types of transaction costs: fixed and proportional. To study the firm's merger strategy, we formulate the problem faced by the newly merged firm's management as an optimal stopping problem. Then, w...

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Veröffentlicht in:Applied financial economics
1. Verfasser: Okawa, Masaya (VerfasserIn)
Weitere Verfasser: Tsujimura, Motoh (VerfasserIn)
Format: UnknownFormat
Sprache:eng
Veröffentlicht: 2009
Schlagworte:
Fusion > Strategisches Management > Suchtheorie > Aufsatz in Zeitschrift
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