Neglected Peers in Merger Valuations
Review of Financial Studies
The study finds that firms selected as “comparable peers” in mergers often become takeover targets, attracting more investor attention and yielding significant investment returns.
Feng (Jason) Guo is the Dean’s Fellow in Accounting and an associate professor of accounting. Tingting Liu is the John and Connie Stafford Professor in Business and an associate professor of finance. Their paper is published in the Review of Financial Studies.