An Empirical Analysis of the Effects of the Threat of Takeover on UK Company Performance

R. Nuttal

Economics Papers from Economics Group, Nuffield College, University of Oxford

Abstract: This paper undertakes an empirical analysis of the effects of the threst of takeover on company performance, based on a panel of 643 nonfinancial quoted UK companies over the period 1989-96. Our measure of the intensity of the threat of takeover is the predicted probability of takeover estimated recursively from a takeover likelihood model. This measure is used as an explanatory variable in models of total factor productivity, investment and dividends.

Keywords: PRODUCTIVITY; INVESTMENTS; MERGERS; TAKEOVERS (search for similar items in EconPapers)
JEL-codes: G34 L21 (search for similar items in EconPapers)
Pages: 53 pages
Date: 1999
References: Add references at CitEc
Citations: View citations in EconPapers (3)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nuf:econwp:1999-w5

Access Statistics for this paper

More papers in Economics Papers from Economics Group, Nuffield College, University of Oxford Contact information at EDIRC.
Bibliographic data for series maintained by Maxine Collett ().