TY  - JOUR 
TI  - When waiting is strategic: Evidence from Colombian M&As 1995–2008
PB  - Elsevier
PY  - 2013
issn 0148-2963
AB  - This study looks into the behavior of privately held firms in Colombia that participate in waves of mergers and acquisitions between 1995 and 2008. The study finds evidence in which experienced firms that perform mergers and acquisitions late in waves show stronger performance as measured by their return on assets. The firms that fall prey to the bandwagon effect and perform M&As at the peak of a wave show the weakest performance in munificent industries. The study discusses the rationality behind strategic waiting in environments with lax contract enforcement and limited information about acquisition targets.
KW  - Economía
KW  - Negocios y management
KW  - Economics
KW  - Business
KW  - Internet
KW  - Comportamiento del consumidor
KW  - Empresas
UR  - http://hdl.handle.net/10906/79782
ER  -