When waiting is strategic: Evidence from Colombian M&As 1995–2008

Veneta Andonova, Yeny Rodriguez and Ivan Dario Sanchez

Journal of Business Research, 2013, vol. 66, issue 10, 1736-1742

Abstract: This study looks into the behavior of privately held firms in Colombia that participate in waves of mergers and acquisitions between 1995 and 2008. The study finds evidence in which experienced firms that perform mergers and acquisitions late in waves show stronger performance as measured by their return on assets. The firms that fall prey to the bandwagon effect and perform M&As at the peak of a wave show the weakest performance in munificent industries. The study discusses the rationality behind strategic waiting in environments with lax contract enforcement and limited information about acquisition targets.

Keywords: Internet shopping; Attitudes; Online consumer behavior (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:66:y:2013:i:10:p:1736-1742

DOI: 10.1016/j.jbusres.2013.01.006

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