This paper investigates the impact of acquisitions on company performance using a large panel of U.K.-quoted companies observed over a long time period. The results indicate that acquisitions have a detrimental impact on company performance and that company growth through acquisition yields a...

This paper examines the existence of reputation effects in the EMS and their impact on the probability of realignment. By reputation effects we mean effects which, controlling for all other determinants of realignment, reduce the probability of realignment simply because the monetary authorities...