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Revisiting the Merger and Acquisition Performance of European Banks
Athanasoglou, Panayiotis P. - 2012
The study examines the value creation of Merger and Acquisition (M&A) deals in European Banking from 1990-2004. This is performed, first, by examining the stock price reaction of banks to the announcement of M&A deals and, second, by analysing the determinants of this reaction. The findings...
Persistent link: https://www.econbiz.de/10013098733
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Intention to Acquire and M&As : Evidence from European IPOs
Charitou, Andreas - 2019
In this paper we examine the disclosure on the IPO prospectus that refers to the firm's intention to pursue an active acquisition strategy as one of the reasons for going public (disclosers). Based on research showing that properly evaluated M&As are more successful, we examine whether the...
Persistent link: https://www.econbiz.de/10012896663
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Do Cross-Border and Domestic Bidding Firms Perform Differently? New Evidence from Continental Europe and the UK
Mateev, Miroslav - 2015
European countries in the period 2003-2010. The analysis is based on characteristics of takeover transactions such as the type …
Persistent link: https://www.econbiz.de/10013018655
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Revisiting the Merger and Acquisition Performance of European Banks
Asimakopoulos, Ioannis; Athanasoglou, Panayiotis P. - 2022
The study examines the value creation of Merger and Acquisition (M&A) deals in European Banking from 1990-2004. This is performed, first, by examining the stock price reaction of banks to the announcement of M&A deals and, second, by analysing the determinants of this reaction. The findings...
Persistent link: https://www.econbiz.de/10013404358
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Mergers and rivals' mark-ups : evidence from European paper manufacturers
Marinov, Rosen - 2007
consolidation, as captured by the Herfindahl-Hirschman and four-firm indexes. However, takeover-related market share amalgamation …
Persistent link: https://www.econbiz.de/10003872161
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European takeover law : the case for a neutral approach
Enriques, Luca - 2010
This paper argues that in revising the Takeover Bid Directive, EU policymakers should adopt a neutral approach toward … kind. Unfortunately, takeover rules cannot be crafted so as to hinder all the bad takeovers while at the same time … current EC legal framework for takeovers overall hinders takeover activity in the EU, the paper identifies three rationales …
Persistent link: https://www.econbiz.de/10008728815
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Are private equity investors good or evil?
Badunenko, Oleg; Barasinska, Nataliya; Schäfer, Dorothea - 2009
The paper investigates the motives of activity (entry and exit) of Private Equity (PE) investors in European companies. Investment of a PE firm is not viewed unambiguously. First, it is claimed that PE investment is made for the sake of seeking short-term gains by taking control and utilizing...
Persistent link: https://www.econbiz.de/10003858716
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Financing-motivated acquisitions
Erel, Isil; Jang, Yeejin; Weisbach, Michael S. - 2012
Managers often claim that an important source of value in acquisitions is the acquiring firm's ability to finance investments for the target firm. This claim implies that targets are financially constrained prior to being acquired and that these constraints are eased following the acquisition....
Persistent link: https://www.econbiz.de/10009507042
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Do private equity owners increase risk of financial distress and bankruptcy?
Tykvová, Tereza; Borell, Mariela - 2011
There is some controversy on the key sources of success in the private equity model and on how this business model affects the portfolio companies. We investigate financial distress risks of European companies around the buyout event in the period between 2000 and 2008. In addition, we analyze...
Persistent link: https://www.econbiz.de/10009424110
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Do acquisitions relieve target firms' financial constraints?
Erel, Isil; Jang, Yeejin; Weisbach, Michael S. - 2013
Managers often claim that an important source of value in acquisitions is the acquiring firm's ability to finance investments for the target firm. This claim implies that targets are financially constrained prior to being acquired and that these constraints are eased following the acquisition....
Persistent link: https://www.econbiz.de/10009724578