Acquisitions as lotteries? The selection of target-firm risk and its impact on merger outcomes

Keyphrases

• Target Firms 100%
• Lottery 100%
• Acquirers 100%
• Firm Risk 100%
• Expected Returns 50%
• Fixed Effects 50%
• Gambling 50%
• Value Differences 50%
• Acquiring Firms 50%
• Accounting Return 50%
• Post-acquisition 50%
• Target Characteristics 50%
• Idiosyncratic Volatility 50%
• Value Change 50%
• Joint Value 50%
• Positively Skewed 50%
• Acquisition Accounting 50%
• Target Acquisition 50%

Economics, Econometrics and Finance

• Volatility 100%
• Merger 100%
• Fixed Effects 100%