{"id":"https://openalex.org/W2948600989","doi":"https://doi.org/10.1108/raf-07-2018-0145","title":"Firm size, market conditions and takeover likelihood","display_name":"Firm size, market conditions and takeover likelihood","publication_year":2019,"publication_date":"2019-07-18","ids":{"openalex":"https://openalex.org/W2948600989","doi":"https://doi.org/10.1108/raf-07-2018-0145","mag":"2948600989"},"language":"en","primary_location":{"id":"doi:10.1108/raf-07-2018-0145","doi":"https://doi.org/10.1108/raf-07-2018-0145","is_oa":false,"landing_page_url":"https://doi.org/10.1108/raf-07-2018-0145","pdf_url":null,"source":{"id":"https://openalex.org/S95074589","display_name":"Review of Accounting and Finance","issn_l":"1475-7702","issn":["1475-7702","1758-7700"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","russia-white-list-3"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Accounting and Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5002498702","display_name":"Abongeh A. Tunyi","orcid":"https://orcid.org/0000-0002-5761-931X","observed_orcids":["https://orcid.org/0000-0002-5761-931X"]},"institutions":[{"id":"https://openalex.org/I91136226","display_name":"University of Sheffield","ror":"https://ror.org/05krs5044","country_code":"GB","type":"education","lineage":["https://openalex.org/I91136226"]}],"countries":["GB"],"is_corresponding":true,"raw_author_name":"Abongeh Tunyi","raw_affiliation_strings":["Accounting and Financial Management Division, University of Sheffield, Sheffield, UK"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Accounting and Financial Management Division, University of Sheffield, Sheffield, UK","institution_ids":["https://openalex.org/I91136226"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5002498702"],"corresponding_institution_ids":["https://openalex.org/I91136226"],"apc_list":null,"apc_paid":null,"fwci":7.6396,"has_fulltext":false,"cited_by_count":26,"citation_normalized_percentile":{"value":0.96671816,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":95,"max":98},"biblio":{"volume":"18","issue":"3","first_page":"483","last_page":"507"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9980000257492065,"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":0.9980000257492065,"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/T11043","display_name":"Merger and Competition Analysis","score":0.000699999975040555,"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"}},{"id":"https://openalex.org/T11903","display_name":"Private Equity and Venture Capital","score":0.0003000000142492354,"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"}}],"keywords":[{"id":"https://openalex.org/keywords/firm-size","display_name":"firm size","score":0.7760000228881836},{"id":"https://openalex.org/keywords/target-firm-size","display_name":"target firm size","score":0.7879999876022339},{"id":"https://openalex.org/keywords/mergers-and-acquisitions","display_name":"mergers and acquisitions","score":0.984000027179718},{"id":"https://openalex.org/keywords/capital-liquidity","display_name":"capital liquidity","score":0.7179999947547913},{"id":"https://openalex.org/keywords/market-sentiment","display_name":"market sentiment","score":0.6330000162124634},{"id":"https://openalex.org/keywords/market-growth","display_name":"market growth","score":0.6179999709129333},{"id":"https://openalex.org/keywords/financing-costs","display_name":"financing costs","score":0.6899999976158142},{"id":"https://openalex.org/keywords/sampling-bias","display_name":"sampling bias","score":0.7829999923706055},{"id":"https://openalex.org/keywords/inverted-u-shaped-relationship","display_name":"inverted U-shaped relationship","score":0.7570000290870667}],"concepts":[{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.6588707566261292},{"id":"https://openalex.org/C610760","wikidata":"https://www.wikidata.org/wiki/Q1340706","display_name":"Endogeneity","level":2,"score":0.6007360816001892},{"id":"https://openalex.org/C140331021","wikidata":"https://www.wikidata.org/wiki/Q1868104","display_name":"Logit","level":2,"score":0.5653875470161438},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5574413537979126},{"id":"https://openalex.org/C198531522","wikidata":"https://www.wikidata.org/wiki/Q485146","display_name":"Sample (material)","level":2,"score":0.5507671236991882},{"id":"https://openalex.org/C129848803","wikidata":"https://www.wikidata.org/wiki/Q2564360","display_name":"Sample size determination","level":2,"score":0.48414215445518494},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.43658965826034546},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.2891552746295929},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.23015239834785461},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.09505161643028259},{"id":"https://openalex.org/C43617362","wikidata":"https://www.wikidata.org/wiki/Q170050","display_name":"Chromatography","level":1,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1108/raf-07-2018-0145","doi":"https://doi.org/10.1108/raf-07-2018-0145","is_oa":false,"landing_page_url":"https://doi.org/10.1108/raf-07-2018-0145","pdf_url":null,"source":{"id":"https://openalex.org/S95074589","display_name":"Review of Accounting and Finance","issn_l":"1475-7702","issn":["1475-7702","1758-7700"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-40","russia-white-list-3"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Review of Accounting and Finance","raw_type":"journal-article"},{"id":"pmh:oai:eprints.whiterose.ac.uk:146156","doi":null,"is_oa":false,"landing_page_url":"https://eprints.whiterose.ac.uk/146156/1/Size%2C%20Market%20Conditions%20and%20Takeover%20Likelihood_Final.pdf","pdf_url":"https://eprints.whiterose.ac.uk/146156/1/Size%2C%20Market%20Conditions%20and%20Takeover%20Likelihood_Final.pdf","source":{"id":"https://openalex.org/S4306400854","display_name":"White Rose Research Online (University of Leeds, The University of Sheffield, University of York)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I2800616092","host_organization_name":"White Rose University Consortium","host_organization_lineage":["https://openalex.org/I2800616092"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":"","raw_type":"Article"},{"id":"pmh:oai:cronfa.swan.ac.uk:cronfa65116","doi":null,"is_oa":false,"landing_page_url":"https://cronfa.swan.ac.uk/Record/cronfa65116","pdf_url":null,"source":{"id":"https://openalex.org/S4306401612","display_name":"Cronfa (Swansea University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I39586589","host_organization_name":"Swansea University","host_organization_lineage":["https://openalex.org/I39586589"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Journal article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/9","score":0.44999998807907104,"display_name":"Industry, innovation and infrastructure"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":46,"referenced_works":["https://openalex.org/W1526670436","https://openalex.org/W1535190265","https://openalex.org/W1606023813","https://openalex.org/W1769297764","https://openalex.org/W1967053015","https://openalex.org/W1969620322","https://openalex.org/W1977307460","https://openalex.org/W1986837574","https://openalex.org/W1995715155","https://openalex.org/W2035465815","https://openalex.org/W2045313588","https://openalex.org/W2049350168","https://openalex.org/W2049940424","https://openalex.org/W2056572782","https://openalex.org/W2060542710","https://openalex.org/W2068518527","https://openalex.org/W2069223897","https://openalex.org/W2070077261","https://openalex.org/W2071291177","https://openalex.org/W2076961151","https://openalex.org/W2078640470","https://openalex.org/W2084898724","https://openalex.org/W2113401002","https://openalex.org/W2141505628","https://openalex.org/W2147647881","https://openalex.org/W2150291618","https://openalex.org/W2150598666","https://openalex.org/W2158000531","https://openalex.org/W2160860931","https://openalex.org/W2162325008","https://openalex.org/W2253892773","https://openalex.org/W2265304962","https://openalex.org/W2315057229","https://openalex.org/W2328176404","https://openalex.org/W2597503617","https://openalex.org/W2772588312","https://openalex.org/W2909617215","https://openalex.org/W3021092167","https://openalex.org/W3121131820","https://openalex.org/W3121985897","https://openalex.org/W3123480856","https://openalex.org/W3123529374","https://openalex.org/W3124795032","https://openalex.org/W3125924213","https://openalex.org/W3126077399","https://openalex.org/W3126118385"],"related_works":["https://openalex.org/W36951246","https://openalex.org/W1557197608","https://openalex.org/W2072826596","https://openalex.org/W4236029673","https://openalex.org/W2127443821","https://openalex.org/W7099670017","https://openalex.org/W2073829191","https://openalex.org/W1603302824","https://openalex.org/W3040829036","https://openalex.org/W3125200618"],"abstract_inverted_index":{"Purpose":[0],"The":[1,45,65,153,211],"firm":[2,12,201],"size":[3,13,202],"hypothesis":[4,30,203],"\u2013":[5,15,38],"takeover":[6],"likelihood":[7],"(TALI)":[8],"decreases":[9],"with":[10,132,207],"target":[11],"(SIZE)":[14],"has":[16],"enjoyed":[17],"little":[18],"traction":[19],"in":[20,190,249],"theTALImodelling":[21],"literature;":[22],"hence,":[23],"this":[24,29],"paper":[25,104],"aims":[26],"to":[27,52,136,158,168,188,247],"redevelop":[28],"while":[31],"taking":[32],"account":[33],"of":[34,74,99,125,171,220,224,241],"prevailing":[35],"market":[36,42,128,147,215,242],"conditions":[37,129,216,243],"capital":[39],"liquidity":[40],"and":[41,82,146,186],"performance.":[43],"Design/methodology/approach":[44],"study":[46,197,212],"uses":[47],"a":[48,71,87,116,199,218],"logit":[49],"modelling":[50],"framework":[51],"modelTALI.":[53],"Model":[54],"performance":[55,251],"is":[56,68,151,205],"assessed":[57],"using":[58],"receiver":[59],"operating":[60],"characteristic":[61],"(ROC)":[62],"curve":[63],"analysis.":[64],"empirical":[66,169],"analysis":[67],"based":[69],"on":[70,164,244],"UK":[72],"sample":[73],"34,661":[75],"firm-year":[76],"observations":[77],"drawn":[78],"from":[79,112],"3,105":[80],"firms":[81,120],"1,396":[83],"M&A":[84,209],"deals":[85],"over":[86],"30-year":[88],"period":[89],"(1987-2016).":[90],"Findings":[91],"While":[92],"acquirers":[93,133],"generally":[94,156],"seek":[95],"smaller":[96],"targets":[97,140],"because":[98],"transaction":[100],"cost":[101],"constraints,":[102],"the":[103,107,165,183,191,221,232,238,250],"shows":[105],"that":[106],"documented":[108],"negative":[109],"relation":[110,185,234],"betweenSIZEandTALIarises":[111],"sampling":[113],"bias.":[114],"Over":[115],"full":[117],"sample,":[118,176],"mid-sized":[119],"are":[121,144,155],"most":[122],"at":[123],"risk":[124],"takeovers.":[126],"Additionally,":[127],"moderate":[130],"theSIZE\u2013TALIrelationship,":[131],"more":[134],"inclined":[135],"pursue":[137],"comparatively":[138],"larger":[139],"when":[141],"financing":[142],"costs":[143],"low":[145],"growth":[148],"or":[149],"sentiment":[150],"high.":[152],"results":[154],"robust":[157],"endogeneity.":[159],"Research":[160],"limitations/implications":[161],"Sample":[162],"truncation":[163],"basis":[166],"ofSIZEleads":[167],"misspecification":[170],"theTALI\u2013SIZErelation.":[172],"In":[173],"an":[174,177],"unbiased":[175],"inverse":[178],"U-shaped":[179],"specification":[180,229],"betweenTALIandSIZEsufficiently":[181],"models":[182],"underlying":[184],"leads":[187,246],"improvements":[189,248],"predictive":[192],"ability":[193],"ofTALImodels.":[194],"Originality/value":[195],"This":[196],"advances":[198],"new":[200,227],"which":[204,230],"consistent":[206],"classic":[208],"theories.":[210],"also":[213],"evidences":[214],"as":[217],"moderator":[219],"acquirer\u2019s":[222],"choice":[223],"targetSIZE.":[225],"A":[226],"model":[228],"recognises":[231],"non-linear":[233],"betweenTALIandSIZEand":[235],"accounts":[236],"for":[237],"moderating":[239],"effect":[240],"theSIZE-TALIrelationship":[245],"ofTALIprediction":[252],"models.":[253]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":5},{"year":2023,"cited_by_count":4},{"year":2022,"cited_by_count":5},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":4}],"updated_date":"2026-10-31T12:09:11.096373","created_date":"2019-06-14T00:00:00"}
