Face‐to‐face interactions and the returns to acquisitions: Evidence from smartphone geolocational data

Research Summary We examine the effect of face‐to‐face interactions between acquirers and targets before the acquisition announcements on acquisition returns. We argue that frequent interactions increase the target management's trust in the acquirer and benefit the acquirer by mitigating compet...

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Bibliographic Details
Published in:Strategic management journal 2022-12, Vol.43 (13), p.2669-2702
Main Authors: Testoni, Marco, Sakakibara, Mariko, Chen, M. Keith
Format: Article
Language:English
Subjects:
abnormal returns
Acquisition
agency theory
Announcements
Bidding
Bids
Business
Closely held corporations
Companies
competitive bidding
Management
mergers and acquisitions
Ownership
Securities markets
smartphone geolocational data
Smartphones
Social interaction
Stock exchanges
Stockholders
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