カシフ　アハマド   Kashif Ahmed   カシフ・アハマド    所属   京都外国語大学  外国語学部 英米語学科    職種   講師
発表年月日	2024/11/26
発表テーマ	The Little Peeks Stronger: Anchoring at Competitor’s Acquisition Premium
会議名	Academy of International Business Oceania 2024 Annual Symposium
学会区分	国際学会
発表形式	ポスター
単独共同区分	共同
国名	オーストラリア
開催地名	University of Sydney, Australia
発表者・共同発表者	Ahmed, K.
概要	Research on M&A shows that acquiring managers rely on heuristics when deciding premiums, yet prior anchoring studies focus mainly on target-side anchors. This study examines how acquirers anchor premiums to their closest domestic competitors. Using institutional theory, we test how acquirer size, predecessor size, and merger-wave timing shape this behavior. Analyzing 2,855 G7 acquisition deals (1985–2019), we find that small acquirers are more likely than large ones to match the premium paid in the most recent competitor deal, captured by the phrase “the little peeks stronger.” This tendency is even stronger when the predecessor firm is also small. Moreover, small-firm peeking occurs more frequently during acquisition waves, particularly in the declining phase. The study contributes to institutional theory and organizational psychology by identifying key organizational and environmental contingencies behind premium anchoring.
researchmap用URL	https://www.aib.world/event/aib-oceania-2024-annual-symposium/