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Review of the literature on merger waves
Cho, Sangjun; Chung, Chune Young - In: Journal of risk and financial management : JRFM 15 (2022) 10, pp. 1-21
Over the past few decades, the rapid growth of mergers and acquisitions (M&As) has received interest from academics and practitioners. While M&As continue to be the subject of thorough investigation from a corporate governance standpoint, comparatively less effort has been made to organize and...
Persistent link: https://www.econbiz.de/10013471479
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Mergers and acquisitions (M&AS) by R&D intensive firms
Dutta, Shantanu; Kumar, Vinod - In: Journal of risk and financial management : JRFM 2 (2009) 1, pp. 1-37
In this study, we evaluate the impact of R&D intensity on acquiring firms’ abnormal returns by examining 925 Canadian completed deals between 1993 and 2002 that have information on R&D expenditures. While examining the returns to acquiring firm shareholders in the R&D intensive firms we...
Persistent link: https://www.econbiz.de/10011556072
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The effect of industry restructuring on peer firms
Holcomb, Alex; Mason, Paul - In: Journal of risk and financial management : JRFM 14 (2021) 5, pp. 1-25
restructuring. We argue that a merger announcement may signal the possibility of a merger wave to the industry, and in doing so …
Persistent link: https://www.econbiz.de/10012534527
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Cross-border acquisitions and shareholders’ wealth : the case of the Indian pharmaceutical sector
Wajid, Abdul; Sabiha, Anjim; Akhtar, Shakeb; Tabash, … - In: Journal of risk and financial management : JRFM 15 (2022) 10, pp. 1-17
Cross-border acquisitions by Indian companies have increased tremendously, especially during the last two decades, and the pharmaceutical industry is one of the top acquiring industries. This study verifies the relationship between cross-border acquisitions and shareholders’ wealth in the...
Persistent link: https://www.econbiz.de/10013471449
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Market misreaction? : leverage and mergers and acquisitions
Krishnan, C. N. V.; Yakimenko, Vasiliy - In: Journal of risk and financial management : JRFM 15 (2022) 3, pp. 1-21
Using a large database of U.S. mergers and acquisitions (M&As) announced from 2010 through 2017, we examine the effects of capital ratio (leverage) on the announcement period stock price reaction as well as on longer-term stock returns and performance, for banks, making comparisons with...
Persistent link: https://www.econbiz.de/10013165300
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Risk implications for the role of budgets in implementing post-acquisition systems integration strategies
Razi, Nazila; More, Elizabeth; Shen, Gensheng - In: Journal of risk and financial management : JRFM 14 (2021) 7, pp. 1-24
This paper studies the role of budgets in implementing the systems integration strategies in an Australian post-acquisition case of two organisations and reducing its associated often-regarded high risks. It attempts a fresh narrative approach to examine the evolution of accounting and its...
Persistent link: https://www.econbiz.de/10012626165
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The effects of ERM adoption on European insurance firms performance and risks
Jurdi, Doureige J.; AlGhnaimat, Sam M. - In: Journal of risk and financial management : JRFM 14 (2021) 11, pp. 1-17
We investigate the effects of adopting enterprise risk management (ERM) on the performance and risks of European publicly listed insurance firms. Using a dataset for 24 years, we report new results which show that ERM adopters realize significant ERM premiums after controlling for other...
Persistent link: https://www.econbiz.de/10012796172
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Determinants of bank M&As in Central and Eastern Europe
Andrieş, Alin Marius; Cazan, Sabina; Sprincean, Nicu - In: Journal of risk and financial management : JRFM 14 (2021) 12, pp. 1-19
This paper analyzes the determinants of bank mergers and acquisitions (M&As) from a bank-level perspective. The main objective of the study is to identify those mutual characteristics of all banking institutions from Central and Eastern Europe that are prone to be acquired versus acquirer, or...
Persistent link: https://www.econbiz.de/10012801621
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Measuring synergies of banks' cross-border mergers by real options : case study of Luminor Group AB
Čirjevskis, Andrejs - In: Journal of risk and financial management : JRFM 14 (2021) 9, pp. 1-20
Applying the real options valuation to measure merger and acquisition (M&A) synergy is highly debatable, with questions … real options applications to measure synergy in cross-border merger activities remains a challenge. The main objective of … the paper is to explore multiple types of synergies in the recent, highly strategic cross-border merger - the Luminor …
Persistent link: https://www.econbiz.de/10012628071
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False friends? : on the effect of bureaucracy, informality, corruption and conflict in Ukraine on foreign and domestic acquisitions
Gonchar, Viktoriya; Kalinin, Oleksandr; Khadzhynova, Olena - In: Journal of risk and financial management : JRFM 15 (2022) 4, pp. 1-14
Ukraine had had its ups and downs in recent years. It has, for example, dramatically improved its ease of doing business (EOBB), and it has made some progress reducing the relative size and influence of its shadow economy (Shadow). But, the Russian invasion of 2014 (Conflict) forced it to take a...
Persistent link: https://www.econbiz.de/10013273096