@inbook{cbec8106adeb4b1fbde791ea340a55f0,
title = "Stock Market Reactions to Knowledge-Motivated Acquisitions",
abstract = "This study uses a new, fine-grained, firm-based measure of target resources to investigate the relationship between target resource type and acquirer stock market performance. Our findings suggest that the market punishes acquirers of knowledge-based resources more than those that buy property-based resources due to the perceived uncertainty regarding the value of targets' knowledge resources. In support of the underlying uncertainty argument, we find that managers announcing knowledge-based mergers provide more information in their press releases than those announcing property-based transactions. While prior studies have suggested that resource relatedness may moderate the resource type and acquisition performance link, our findings do not support either a direct or moderating relationship.",
author = "Gerbaud, {Ricardo Romero} and York, {Anne S.}",
note = "Copyright: Copyright 2008 Elsevier B.V., All rights reserved.",
year = "2007",
doi = "10.1016/S1479-361X(07)06006-1",
language = "English (US)",
isbn = "0762313811",
series = "Advances in Mergers and Acquisitions",
pages = "127--156",
editor = "Cary Cooper and Sydney Finkelstein",
booktitle = "Advances in Mergers and Acquisitions",
}