Empirical Study on Subsidiary Reacquisition Among Japanese Companies

Minoru Otsubo, Yusuke Miyoshi

研究成果: ジャーナルへの寄稿学術誌査読

2 被引用数 (Scopus)

抄録

This study presents an empirical analysis of the reasons Japanese companies are pursuing subsidiary reacquisition, with a particular focus on listed subsidiaries. Based on previous research on listed subsidiaries, we identified and empirically analyzed five hypotheses regarding the motivation for pursuing reacquisition: the information asymmetry hypothesis, restructuring hypothesis, low growth hypothesis, conflict-of-interest hypothesis, and hostile merger and acquisition (M&A) hypothesis. The results did not offer support for the information asymmetry hypothesis, low growth hypothesis, or hostile M&A hypothesis, but did in part support the restructuring hypothesis and low growth hypothesis. They also showed that the restructuring hypothesis is the only one of these five that accounts for the possibility of an increase in the share value of the parent company.

本文言語クロアチア語
ページ(範囲)31-60
ページ数30
ジャーナルJapanese Political Economy
36
4
DOI
出版ステータス出版済み - 2009
外部発表はい

!!!All Science Journal Classification (ASJC) codes

  • 経済学、計量経済学および金融学一般
  • 社会学および政治科学

引用スタイル