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Library/Information asymmetry, pricing and deal process

C7FT50

Acquisitions of private vs. public firms: Private information, target selection, and acquirer returns

Capron, L., & Shen, J.-C. (2007)

Strategic Management Journal, 28(9), 891-911

Event study plus survey. Lack of information on private targets narrows the acquirer's search and raises valuation risk but creates value opportunities; acquirers favour private targets in familiar industries and earn better announcement returns. Corporate acquirers only.

Sourcedoi:10.1002/smj.612549 citations (OpenAlex)

Full citation

Capron, L., & Shen, J.-C. (2007). Acquisitions of private vs. public firms: Private information, target selection, and acquirer returns. Strategic Management Journal, 28(9), 891-911.

https://doi.org/10.1002/smj.612

This page describes a work published elsewhere. The summary, where present, states what the authors claim; it is not the school's position. Read the source before quoting a figure.