bids: Takeover bids data

In rdmatheus/bergrm: BerG Regression Model for Count Data

Description

Data of the number of bids received by 126 U.S. firms that were targets of tender offers from 1978 to 1985, along with some explanatory variables on the defensive actions taken by management of target firm, firm-specific characteristics and intervention taken by federal regulators.

Usage

data(bids)

Format

A data frame with 126 observations on the following 12 variables.

• numbids: number of bids recevied after the initial bid.

• leglrest: indicator variable for legal defence by lawsuit.

• realrest: indicator variable for proposed changes in asset structure.

• finrest: indicator variable for proposed change in ownership structure.

• whtknght: indicator varible for management invitation for friendly third-party bid.

• bidprem: bid price divided by price 14 working days before bid.

• insthold: percentage of stock held by institutions.

• size: total book value of assets in billions of dollars.

• regulatn: indicator variable for Department of Justice intervention.

Details

Data originally from Jaggia and Thosar (1993) and used as an example in Cameron and Trivedi (2013) and Saez-Castillo and Conde-Sanchez (2013).

References

Cameron, A.C., Trivedi, P.K. (2013). Regression Analysis of Count Data. Cambridge University Press, second edition.

Jaggia, S., Thosar, S. (1993). Multiple Bids as a Consequence of Target Management Resistance. Review of Quantitative Finance and Accounting, 447-457.

Saez-Castillo, A.J., Conde-Sanchez, A. (2013). A hyper-Poisson regression model for overdispersed and underdispersed count data. Computational Statistics and Data Analysis, 61, 148-157.doi: 10.1016/j.csda.2012.12.009

rdmatheus/bergrm documentation built on Oct. 1, 2020, 4:38 a.m.