Financial characteristics of takeover targets in the gaming industry

Forty-five takeover activities took place from 1989 to 1999. Decisions in takeovers may be affected by financial or non-financial factors. Since non-financial factors are hard to measure and quantify for analysis, this study investigates the financial characteristics of takeover target firms in the gaming industry; Logistic regression analysis was employed because the dependent variable of this study is dichotomous. By the stepwise selection procedure, six variables were identified in this study. These include size, profitability, liquidity, leverage, capital expenditure, cash reserve capacity, operational efficiency and returns on invested capital. The takeover likelihood in the gaming industry is found to be positively related with the size, operational efficiency and liquidity of a firm, and negatively related with the leverage, profitability and returns on invested capital of a firm.

Name thesis:degree_name

Master of Science (MS)

Level thesis:degree_level

Thesis

Discipline thesis:degree_discipline

Hotel Administration

Grantor dc:publisher

University of Nevada, Las Vegas

Year

1999

Author dc:creator

• Yuh, Seung Jai

Contributors dc:contributor

• Zheng Gu

Statement dc:rights

• IN COPYRIGHT. For more information about this rights statement, please visit http://rightsstatements.org/vocab/InC/1.0/

Language dc:language

English

Identifier

https://oasis.library.unlv.edu/rtds/1088

OAI identifier oai:identifier

oai:oasis.library.unlv.edu:rtds-2087