dictated a conclusion that LBO merger activity does not have an adverse impact on the post merger profitability of firms surviving an LBO merger, the findings and conclusions of this study run counter to the findings and conclusions of some other studies, as well as counter to several theoretical treatments of the subject. It is possible that the relatively small data based developed for
this study skewed the results of this study to some extent. Therefore, it was recommended that another study attempt to replicate the findings of this study. It was, however, further recommended that any such replication study develop a larger data base than that used in this study. There is no real indi cation that the findings and conclusion of this study are not valid, other than the fact that they run counter to some other studies. Thus, this recommendation should not be viewed as a rejection of the study findings and conclusion, but, rather, as a prudent request for validation of the study findings and con clusions.
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