Master of Science (MS)
First Committee Member
Number of Pages
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.
Characteristics; Financial; Gaming; Industry; Takeover; Target
University of Nevada, Las Vegas
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Yuh, Seung Jai, "Financial characteristics of takeover targets in the gaming industry" (1999). UNLV Retrospective Theses & Dissertations. 1088.