Accounting Rates of Return as Measures of Post-Merger Perfor Mance

Patricia Stanton
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Patricia Stanton: Department of Commerce, University of Newcastle.

Australian Journal of Management, 1987, vol. 12, issue 2, 293-304

Abstract: Accounting rates of return are used widely in empirical studies to assess postmerger perfor Mance and to compare this perfor Mance with that of non-merged firms. This paper suggests that there are many problems involved. In particular, accounting rates of return are unreliable measures of post-merger perfor Mance, and introduce bias into the results of post-merger perfor Mance studies.

Keywords: RATES OF RETURN; TAKEOVER; MERGER (search for similar items in EconPapers)
Date: 1987
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:12:y:1987:i:2:p:293-304

DOI: 10.1177/031289628701200209

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