A Re-Examination of the Conglomerate Merger Wave in the 1960s: An Internal Capital Markets View
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One possible explanation that bidding firms earned positive abnormal returns in diversifying acquisitions in the 1960s is that internal capital markets were expected to overcome the information deficiencies of the less developed capital markets. Examining 392 bidder firms during the 1960s, we find
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美国国家经济研究局创建时间：
1998-04-01
