| Project/Area Number |
20730258
|
|---|
| Research Category |
Grant-in-Aid for Young Scientists (B)
|
| Allocation Type | Single-year Grants |
|---|
| Research Field |
Business administration
|
|---|
| Research Institution | Tokiwa University |
|---|
Principal Investigator |
BUNDO Hiroyuki Tokiwa University, 国際学部, 准教授 (30337290)
|
|---|
| Project Period (FY) |
2008 – 2009
|
| Project Status |
Completed (Fiscal Year 2009)
|
| Budget Amount *help |
¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2009: ¥130,000 (Direct Cost: ¥100,000、Indirect Cost: ¥30,000)
Fiscal Year 2008: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
|
|---|
| Keywords | M&A / TOB / 買収プレミアム / M & A |
|---|
| Research Abstract |
I investigate the determinants of tender offer premium of 335 Japanese public corporation target deals practiced in 1996 through 2007. The findings suggest that tender offer premium of Japanese deals are mainly determined by target pre-offer financial performance, such as pre-offer length of loss period, sales margin, equity ratio and up-trend of ordinary profit, and by offer strategy, such as delisting policy and targeted ownership level.
|
