TY  - BOOK
AU  - Bugeja,Martin
TI  - Foreign takeovers of Australian listed entities
SN  - 03128962
AV  - HD31 AUS 
PY  - 2011///
CY  - Los Angeles
PB  - Sage
KW  - Takeover
KW  - Foreign
KW  - Capital income
KW  - Australia
N2  - This study examines if Australian target firm abnormal returns and characteristics differ between Australian and foreign bidders. The results indicate that takeovers from foreign bidders are associated with higher target firm abnormal returns than bids from Australian firms. Overseas bidders also pay an additional premium for research-intensive target firms. Target firms that receive an offer from outside Australia are significantly larger, have lower leverage, and are more likely to operate in the resources sector. Foreign acquisitions are also more likely to be a friendly takeover. The relative exchange rate is not associated with the likelihood of a foreign takeover. There is no difference in takeover success or competition between domestic and foreign bids
UR  - https://doi.org/10.1177/0312896210388858
ER  -