TY  - JOUR 
TI  - La adquisición de empresas. ¿En qué nivel de relación industrial son un modo más apropiado de diversificación empresarial?
JO  - ESTUDIOS GERENCIALES;Vol. 31 No. 136 Julio/Septiembre 2015
PB  - Universidad Icesi, Facultad de Ciencias Administrativas y Económicas
PY  - 2015
issn 01235923
AB  - The objective of this correlational study is to examine the level of industrial relatedness between companies,
the acquirer (which is diversifying) and the acquired, at which the stock market’s reaction is more
positive. In order to reach that goal, we used event study methodology over several days before and
after the announcement of a sample of 460 acquisitions made by U.S. companies in the years 2000 to
2003. The results partially support the hypothesis that a firm’s value increases more sharply when the
acquisition announcement involves moderately related firms. Nonetheless, only when the average level
of relatedness was low (not being zero) the stock market reaction was more favorable.
KW  - Producción intelectual registrada - Universidad Icesi
KW  - Diversificación
KW  - Administración estratégica
KW  - Adquisiciones
KW  - Relaciones industriales
KW  - Mercado de valores
UR  - http://www.icesi.edu.co/revistas/index.php/estudios_gerenciales/article/view/2060
ER  -