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dc.contributor.authorChemla, Gilles
dc.date.accessioned2011-05-30T11:44:01Z
dc.date.available2011-05-30T11:44:01Z
dc.date.issued2004-04
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/6359
dc.language.isoenen
dc.subjecttakeoversen
dc.subjectinformationen
dc.subjectpriceen
dc.subjectvalueen
dc.subjectdisclosureen
dc.subjectbuyeren
dc.subject.ddc332en
dc.subject.classificationjelD82en
dc.subject.classificationjelL14en
dc.subject.classificationjelG34en
dc.titleTakeovers and the dynamics of information flowsen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenThis Paper analyses the effect of a possible takeover on information flows and on the terms of trade in business relationships. We consider a long-term relationship between a firm and a privately-informed stakeholder, a buyer for example. In our model, takeovers both increase the surplus from trade and enable the firm to extract a potentially higher share of the surplus from the buyer. The possibility of a takeover that leaves the buyer with a higher (lower) rent than the incumbent manager increases (decreases) the buyer's willingness to reveal their valuation. We suggest a number of testable predictions on the performance of takeover targets and trade credit.en
dc.relation.isversionofjnlnameInternational journal of industrial organization
dc.relation.isversionofjnlvol22
dc.relation.isversionofjnlissue4
dc.relation.isversionofjnldate2004-04
dc.relation.isversionofjnlpages575-590
dc.relation.isversionofdoihttp://dx.doi.org/10.1016/j.ijindorg.2003.11.001
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherAmsterdam, North-Holland
dc.subject.ddclabelEconomie financièreen


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