{"id":"https://openalex.org/W1990383141","doi":"https://doi.org/10.1111/j.1540-6288.1998.tb01366.x","title":"Failed takeovers, methods of payment, and bidder returns","display_name":"Failed takeovers, methods of payment, and bidder returns","publication_year":1998,"publication_date":"1998-05-01","ids":{"openalex":"https://openalex.org/W1990383141","doi":"https://doi.org/10.1111/j.1540-6288.1998.tb01366.x","mag":"1990383141"},"language":"en","primary_location":{"id":"doi:10.1111/j.1540-6288.1998.tb01366.x","doi":"https://doi.org/10.1111/j.1540-6288.1998.tb01366.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1540-6288.1998.tb01366.x","pdf_url":null,"source":{"id":"https://openalex.org/S9351053","display_name":"Financial Review","issn_l":"0732-8516","issn":["0732-8516","1540-6288"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Financial Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=95510","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5103403417","display_name":"Saeyoung Chang","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I117965899","display_name":"University of Hawai\u02bbi at M\u0101noa","ror":"https://ror.org/01wspgy28","country_code":"US","type":"education","lineage":["https://openalex.org/I117965899"]},{"id":"https://openalex.org/I1331384533","display_name":"University of Hawaii System","ror":"https://ror.org/03tzaeb71","country_code":"US","type":"education","lineage":["https://openalex.org/I1331384533"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Saeyoung Chang","raw_affiliation_strings":["College of Business Administration, University of Hawaii"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"College of Business Administration, University of Hawaii","institution_ids":["https://openalex.org/I117965899","https://openalex.org/I1331384533"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5068105371","display_name":"David Y. Suk","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I186776151","display_name":"Rider University","ror":"https://ror.org/01dgn5344","country_code":"US","type":"education","lineage":["https://openalex.org/I186776151"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"David Y. Suk","raw_affiliation_strings":["Department of Finance, Rider University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Finance, Rider University","institution_ids":["https://openalex.org/I186776151"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5103403417"],"corresponding_institution_ids":["https://openalex.org/I117965899","https://openalex.org/I1331384533"],"apc_list":{"value":2900,"currency":"USD","value_usd":2900},"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":27,"citation_normalized_percentile":{"value":0.4484556,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":97},"biblio":{"volume":"33","issue":"2","first_page":"19","last_page":"34"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9961000084877014,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9961000084877014,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.0026000000070780516,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11043","display_name":"Merger and Competition Analysis","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/cash-offers","display_name":"cash offers","score":0.6819999814033508},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.7549999952316284},{"id":"https://openalex.org/keywords/free-cash-flow","display_name":"free cash flow","score":0.8389999866485596},{"id":"https://openalex.org/keywords/abnormal-returns","display_name":"abnormal returns","score":0.5320000052452087}],"concepts":[{"id":"https://openalex.org/C9233905","wikidata":"https://www.wikidata.org/wiki/Q3276328","display_name":"Bidding","level":2,"score":0.7528787851333618},{"id":"https://openalex.org/C2780334105","wikidata":"https://www.wikidata.org/wiki/Q9297784","display_name":"Free cash flow","level":3,"score":0.731052577495575},{"id":"https://openalex.org/C2777601474","wikidata":"https://www.wikidata.org/wiki/Q4668178","display_name":"Abnormal return","level":3,"score":0.6837981939315796},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6197223663330078},{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.6195420622825623},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5822818279266357},{"id":"https://openalex.org/C136221606","wikidata":"https://www.wikidata.org/wiki/Q25245116","display_name":"Tender offer","level":4,"score":0.5812743306159973},{"id":"https://openalex.org/C2778083465","wikidata":"https://www.wikidata.org/wiki/Q693464","display_name":"Cash","level":2,"score":0.535880982875824},{"id":"https://openalex.org/C145097563","wikidata":"https://www.wikidata.org/wiki/Q1148747","display_name":"Payment","level":2,"score":0.5231415033340454},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4948663115501404},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.37267065048217773},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3025248646736145},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.1441008448600769},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.1001201868057251},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.07733365893363953},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1111/j.1540-6288.1998.tb01366.x","doi":"https://doi.org/10.1111/j.1540-6288.1998.tb01366.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1540-6288.1998.tb01366.x","pdf_url":null,"source":{"id":"https://openalex.org/S9351053","display_name":"Financial Review","issn_l":"0732-8516","issn":["0732-8516","1540-6288"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Financial Review","raw_type":"journal-article"},{"id":"mag:3121952478","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=95510","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null}],"best_oa_location":{"id":"mag:3121952478","doi":null,"is_oa":true,"landing_page_url":"https://papers.ssrn.com/sol3/papers.cfm?abstract_id=95510","pdf_url":null,"source":{"id":"https://openalex.org/S4210172589","display_name":"SSRN Electronic Journal","issn_l":"1556-5068","issn":["1556-5068"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1318003438","host_organization_name":"RELX Group (Netherlands)","host_organization_lineage":["https://openalex.org/I1318003438"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"SSRN Electronic Journal","raw_type":null},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8","score":0.6800000071525574}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":29,"referenced_works":["https://openalex.org/W1547048083","https://openalex.org/W1559170486","https://openalex.org/W1967487284","https://openalex.org/W1968212878","https://openalex.org/W1973337993","https://openalex.org/W1979927021","https://openalex.org/W1986788747","https://openalex.org/W2004127855","https://openalex.org/W2023445141","https://openalex.org/W2024121040","https://openalex.org/W2052347102","https://openalex.org/W2059912207","https://openalex.org/W2063126268","https://openalex.org/W2071511656","https://openalex.org/W2081232092","https://openalex.org/W2085189944","https://openalex.org/W2087582955","https://openalex.org/W2114388464","https://openalex.org/W2128778916","https://openalex.org/W2136388022","https://openalex.org/W2154718048","https://openalex.org/W2171798971","https://openalex.org/W2747531703","https://openalex.org/W2752617332","https://openalex.org/W3121131820","https://openalex.org/W3121825198","https://openalex.org/W3124114405","https://openalex.org/W3125397542","https://openalex.org/W4255284252"],"related_works":["https://openalex.org/W2154718048","https://openalex.org/W196179539","https://openalex.org/W159082744","https://openalex.org/W2168970594","https://openalex.org/W102130747","https://openalex.org/W2551609509","https://openalex.org/W171981952","https://openalex.org/W3137833383","https://openalex.org/W3080605462","https://openalex.org/W7100437590"],"abstract_inverted_index":{"Abstract":[0],"This":[1],"study":[2],"documents":[3],"bidding\u2010firm":[4],"stock":[5,20,86],"returns":[6,96],"upon":[7],"the":[8,45,67,75,80,91,104,111],"announcement":[9],"of":[10,106],"takeover":[11,46,98],"terminations.":[12],"On":[13],"average,":[14],"bidding":[15],"firms":[16,27],"that":[17,28,57,79],"offer":[18,29],"common":[19,85],"experience":[21,31],"a":[22,32,51],"positive":[23,37],"abnormal":[24,34],"return,":[25],"and":[26],"cash":[30,108,113],"negative":[33],"return.":[35],"The":[36,70],"performance":[38],"is":[39],"primarily":[40],"driven":[41],"by":[42,59,66],"bidders":[43,49,61],"initiating":[44],"termination.":[47],"Commonstock\u2010financed":[48],"earn":[50],"return":[52],"not":[53,82],"significantly":[54],"different":[55],"from":[56],"earned":[58],"cashfinanced":[60],"when":[62],"terminations":[63],"are":[64,72,100],"initiated":[65],"target":[68],"firm.":[69],"results":[71],"consistent":[73],"with":[74],"asymmetric":[76],"information":[77,89],"hypothesis,":[78],"decision":[81],"to":[83,90,103],"issue":[84],"conveys":[87],"favorable":[88],"market.":[92],"In":[93],"addition,":[94],"bidder":[95],"at":[97],"termination":[99],"positively":[101],"related":[102],"amount":[105],"undistributed":[107],"flow,":[109],"supporting":[110],"free":[112],"flow":[114],"hypothesis.":[115]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":1}],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2016-06-24T00:00:00"}