Page jacking would be considered a black hat search engine optimization technique. It refers to copying content or source code from another site and placing it on another site in order to achieve unwarranted authority or value from the search engines.
While mileage may vary on the success one may have in employing such a technique, it violates both Bing and Google’s Webmaster Guidelines and Terms of Service and could lead to banning, penalization and legal issues with the sites where the information was copied.
Page Hijacking – which you may also be referencing, is another hybrid technique where the webmaster copies content or code, and when users arrive to the site, they are redirected or pointed in some way to another site. This would also be a form of cloaking, which is against both Bing and Google’s Webmaster Guidelines and Terms of Service.
In Search Engine Optimization as in most endeavors – the sneaky solution is typically the wrong one.
(Don’t do it!)