Acquired versus non-acquired Greek firms: a test of two-limited - dependent models

Abstract

Merger activity in the decade of 1980's is known as the so-called merger fever or merger mania. The
"incorrigible twins" of acquired and non-acquired firms, and, secondarily, of acquiring and acquired firms
appear to be prevalent in the literature. Although the phenomenon is with no boundaries, it is mainly
examined in US and UK. Greek evidence highlights the situation in a specific country, and adds empirical
findings in the literature. Although the investigation is in a far different business environment, empirical
findings are very close to their own counterparts in some respects. Current ratio, long-term debt, and
inventory to sales prevail in the discrimination of acquired versus non-acquired Greek firms.