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Long Run Value Creation from Cross Border Mergers and Acquisitions : Evidence from Indian Acquirer Companies
Lamba, Ashu - 2015
The current study focuses on the long run value creation by cross border mergers and acquisitions by Indian companies in the period of 1998-2009. Event study methodology has been employed for achieving the purpose. The results revealed that there was significant value deterioration for the...
Persistent link: https://www.econbiz.de/10013022448
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Large Shareholders and Value Creation Through Corporate Acquisitions in Europe. The Identity of the Controlling Shareholder Matters
Craninckx, Katrien - 2015
We investigate whether and how major shareholders influence M&A wealth effects for listed acquirers in Europe. To that end, we examine 342 intra-European takeovers of listed target firms announced between 1997 and 2007. We find that family-controlled acquiring firms on average engage in deals...
Persistent link: https://www.econbiz.de/10013012199
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The Price of Nothing – The Value of Everything : Towards an Understanding of Value Creation in Private Equity Buyouts
Hannus, Simon G. - 2015
A wide range of definitions exists of what constitutes value creation and generation in private equity buyouts. At the core of the problem is that our understanding of the diverse set of levers, drivers and mechanisms by which financial value is generated has been inconsistent and incomplete....
Persistent link: https://www.econbiz.de/10013021859
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Shareholder Value Creation in the Indian Banking Industry : An EVA Analysis
Soral, G. - 2010
sector banks, however, was not found significant (value of ‘t' 0.0096 < 2.06). Among public sector banks, State Bank of India … (SBI) ranked the highest in terms of average EVA (Rs. 6193.24 cr), while Canara Bank was the only one with negative average … EVA (Rs. 1390.20 cr). ICICI Bank Ltd. stood highest among private sector banks with regard to average EVA (Rs. 2036.12 cr …
Persistent link: https://www.econbiz.de/10013150595
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Value Creation Estimates Beyond Announcement Returns : Mega-Mergers versus Other Mergers
Bayazitova, Dinara - 2012
value for the acquirer. However, announcement returns combine information about value creation because of the merger and a … the merger. We find that despite their negative average announcement returns, acquisitions of public targets typically do …
Persistent link: https://www.econbiz.de/10013116674
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Sources of Value Creation Through Private Equity-Backed Mergers and Acquisitions : The Case of Buy-and-Build Strategies
Borell, Mariela - 2013
This article documents a new value creation function of private equity investors who carry out buy- and-build strategies. Buy-and-build strategies constitute an initial acquisition of a firm, serving as a “platform”, by a private equity investor and follow-on private equity-backed...
Persistent link: https://www.econbiz.de/10013072824
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The Value of CEOs' Supply Chain Experience : Evidence from Mergers and Acquisitions
Fich, Eliezer M. - 2018
effects of first-order importance: they earn 1% higher merger announcement returns. Conversely, their targets get a lower … share of the merger gains. Acquisitions by supply chain CEOs also exhibit higher synergies, better post-deal accounting …
Persistent link: https://www.econbiz.de/10012940252
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Sources of Value in Mergers and Acquisitions
Yaghoubi, Reza - 2013
This study investigates sources of value in mergers and acquisitions. While much emphasis is put on operating synergies from acquisitions the evidence provided in this study shows that the difference between the WACCs of the combined firm and the merging firms may have a significant role on the...
Persistent link: https://www.econbiz.de/10013077592
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Do announcement returns contain information about value creation?
Ben-David, Itzhak; Bhattacharya, Utpal; Jacobsen, Stacey - 2020
Stock returns around acquisition announcements are widely viewed as being reflective of the net present value created by these transactions. As such, announcement returns should correlate with acquisition outcomes. Using a new measure of realized transaction-level acquisition failure, as well as...
Persistent link: https://www.econbiz.de/10012263196
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Analysis of glamorous acquisitions in the telecommunications sector : overvaluation or success?
Navío-Marco, Julio; Serrano Calle, Silvia; … - 2017
This article analyses the performance and value creation of the glamorous operations of mergers and acquisitions (M&A) in the telecommunications sector, trying to understand if the glamour company's M&A operations conduct to the stockholder wealth maximization, and the role of acquirer's...
Persistent link: https://www.econbiz.de/10011777848