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Globalization, Governance, and the Returns to Cross-Border Acquisitions
Ellis, Jesse A. - 2011
Using a sample of control cross-border acquisitions from 61 countries from 1990 to 2007, we find that acquirers from countries with better governance gain more from such acquisitions and their gains are higher when targets are from countries with worse governance. Other acquirer country...
Persistent link: https://www.econbiz.de/10013131906
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Anatolia Kimya – A Cross-Border Acquisition in the Turkish Chemical Industry
Pereiro, Luis E. - 2011
Persistent link: https://www.econbiz.de/10013123127
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Why Do Over-Deviated Firms from Target Leverage Undertake Foreign Acquisitions?
Ahmed, Yousry - 2018
This paper examines how deviation from firms' target leverage influences their decisions on undertaking foreign acquisitions. Using a sample of 5,746 completed bids by UK acquirers from 1987 to 2012, we observe that over-deviated firms are more likely to acquire foreign targets. Consistent with...
Persistent link: https://www.econbiz.de/10012915675
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Do CEOs Gain More in Foreign Acquisitions than Domestic Acquisitions?
Ozkan, Neslihan - 2011
This paper examines the impact of domestic and foreign acquisitions on chief executive officer (CEO) compensation packages using a sample of 147 completed bids by UK companies from 1999 to 2005. We find that foreign acquisitions lead to higher CEO compensation than domestic acquisitions....
Persistent link: https://www.econbiz.de/10014198176
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Stock Exchange Consolidation and Cross-Border Investment : An Empirical Assessment
Giofré, Maela - 2020
This paper investigates the effects of stock exchange consolidation on foreign portfolio holdings. Sharing a common stock exchange platform enhances cross-border investments, and the consolidation effect is particularly pronounced among member countries that are smaller in size and closer in...
Persistent link: https://www.econbiz.de/10012854775
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Cross-border mergers and hollowing-out
Secrieru, Oana - 2009
The purpose of our paper is to examine the profitability and social desirability of both domestic and foreign mergers in a location-quantity competition model, where we allow for the possibility of hollowing-out of the target firm. We refer to hollowing-out as the situation where the target firm...
Persistent link: https://www.econbiz.de/10003933343
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What is different about government-controlled acquirers in cross-border acquisitions?
Karolyi, G. Andrew; Liao, Rose C. - 2010
We examine the motives for and consequences of 5,317 failed and completed cross-border acquisitions constituting $619 billion of total activity that were led by government-controlled acquirers over the period from 1990 to 2008. We benchmark this activity at the aggregate country level and also...
Persistent link: https://www.econbiz.de/10008702754
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The effects of cross-border M&As on the acquirers' domestic performance : firm-level evidence
Stiebale, Joel; Trax, Michaela - 2010
This paper provides empirical evidence on the effects of cross-border M&As on investing firms' domestic performance in the U.K. and France. We build a new firm-level dataset that combines a global M&A database with balance sheet data for the years 2000-2007. Combining matching techniques with a...
Persistent link: https://www.econbiz.de/10003924467
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The impact of foreign acquisitions on the investors' R&D activities : firm-level evidence
Stiebale, Joel - 2010
This paper provides empirical evidence on the relationship between cross-border acquisitions and innovation activities at the firm level. In contrast to previous studies that analyze the effects on innovation in target firms, this paper investigates the effects on the investing firms. For the...
Persistent link: https://www.econbiz.de/10003924470
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Foreign and domestic takeovers in Germany : cherry-picking and lemon-grabbing
Weche-Gelübcke, John P. - 2012
This study focuses on ex ante performance of domestic and foreign takeover targets in Germany, one of the most … well as binary response model estimations of takeover probabilities were performed for the manufacturing and service sector … separately. The results showed a diametrically opposing impact of productivity and profitability on the takeover likelihood. This …
Persistent link: https://www.econbiz.de/10009530270