【正文】 Bell Journal of Economics 11, 42–64.Hartzell, J., Ofek, E., Yermack, D., 2003. What’s in it for me? CEOs whose firms are acquired. Review of Financial Studies, forthing.Healy, P., Palepu, K., Ruback, R., 1992. Does corporate performance improve after mergers? Journal of Financial Economics 31, 135–176.Holmstrom, B., Kaplan, S., 2001. Corporate governance and merger activity in the .: making sense of the 80’s and the 90’s. Journal of Economic Perspectives 15, 121–144.Jensen, M., 1986. Agency cost of free cash flow, corporate finance and takeovers. American Economic Review Papers and Proceedings 76, 323–329.Jenter, D., 2002. Market timing and managerial portfolio decisions. Unpublished working paper, Harvard University.Jovanovic, B., Rousseau, P., 2002. The qtheory of mergers. American Economic Review Papers and Proceedings 92, 198–204.Kaplan, S., 1989. The effects of management buyouts on operating performance and value. Journal of Financial Economics 24, 217–254.Lang, L., Stulz, R., Walkling, R., 1989. Managerial performance, Tobin’s q, and the gains from successful tender offers. Journal of Financial Economics 24, 137–154.Loughran, T., Vijh, A., 1997. Do longterm shareholders benefit from corporate acquisitions? Journal of Finance 52, 1765–1790.Matsusaka, J., 1990. Takeover motives during the conglomerate merger wave. Unpublished working paper, University of Chicago.Meeks, G., 1977. Disappointing Marriage: a Study of the Gains of the Merger. University of Cambridge Occasional Paper 51, Cambridge University Press, Cambridge.Mitchell, M., Mulherin, H., 1996. The impact of industry shocks on takeover and restructuring activity. Journal of Financial Economics 41, 193–230.Mitchell, M., Stafford, E., 2000. Managerial decisions and long term stock price performance. Journal of Business 73, 287–329.Morck, R., Shleifer, A., Vishny, R., 1990a. The stock market and investment: is the market a sideshow? Brookings Papers on Economic Activity 2, 157–215.Morck, R., Shleifer, A., Vishny, R., 1990b. Do managerial objectives drive bad acquisitions? Journal of Finance 45, 31–48.Myers, S., Majluf, N., 1984. Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics 13, 187–221.Nelson, R., 1959. Merger Movements in the American Industry. NBER, New York.Polk, C., Sapienza, P., 2002. The real effects of investor sentiment. Unpublished working paper, Kellogg Graduate School of Business.Rau, R., Vermaelen, T., 1998. Glamour, value, and the postacquisition performance of acquiring firms. Journal of Financial Economics 49, 223–254.Ravenscraft, D., Scherer, F., 1987. Mergers, Selloffs, and Economic Efficiency. Brookings Institution, Washington.Roll, R., 1986. The hubris hypothesis of corporate takeovers. Journal of Business 59, 197–216. Rumelt, R., 1974. Strategy, Structure, and Economic Performance. Harvard Business School Press, Boston.Schwert, W., 2000. Hostility in takeovers: in the eye of the beholder? Journal of Finance 55, 2599–2640.Shleifer, A., 2000. Inefficient Markets: An Introduction to Behavioral Finance. Oxford University Press, Oxford, UK.Shleifer, A., Vishny, R., 1990. Equilibrium short horizons of investors and firms. American Economic Review Papers and Proceedings 80, 148–153.Shleifer, A., Vishny, R., 1991. Takeovers in the ’60s and ’80s: evidence and implications. Strategic Management Journal 12, 51–59.Stein, J., 1988. Takeover threats and managerial myopia. Journal of Political Economy 96, 61–80.Stein, J., 1989. Efficient capital markets, inefficient firms: a model of myopic corporate behavior. Quarterly Journal of Economics 104, 655–669.Stein, J., 1996. Rational capital budgeting in an irrational world. Journal of Business 69, 429–455.Steiner, P., 1975. Mergers: Motives, Effects, Policies. University of Michigan Press, Ann Arbor.Verter, G., 2002. Timing merger waves. Harvard University Mimeo.翻譯：孫文龍16 / 1