Thesis advisor: Amy Hutton / I investigate the effects of private information acquisition from M&A due diligence on bidders’ subsequent actions. Using a sample of negotiated and announced M&A deals that fail to close, I find that, following the failed transactions, bidders achieve higher investment efficiency and higher innovation outputs. Cross-sectional cuts demonstrate that the effects are more pronounced when a bidder has greater opportunities to learn from the target firms’ proprietary information. While bidders benefit through M&A negotiations, target firms bear costs from sharing proprietary information, as shown by a modest decline in their innovation and product outcomes. Overall, my study contributes to the understanding of the real effects of learning from peers’ proprietary information. / Thesis (PhD) — Boston College, 2022. / Submitted to: Boston College. Carroll School of Management. / Discipline: Accounting.
| Identifer | oai:union.ndltd.org:BOSTON/oai:dlib.bc.edu:bc-ir_109489 |
| Date | January 2022 |
| Creators | Afrin, Farzana |
| Publisher | Boston College |
| Source Sets | Boston College |
| Language | English |
| Detected Language | English |
| Type | Text, thesis |
| Format | electronic, application/pdf |
| Rights | Copyright is held by the author, with all rights reserved, unless otherwise noted. |
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