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for mounting a critique of the use of management and control systems by global corporations. It provides General Electric …'s takeover of the Italian company Nouvo Pignone as an instance. The systems are an essential element in the expansionary … generic management and control systems into the firms it acquires runs afoul of a Levinasian ethics. That many large global …
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This paper examines the determinants of the choice of financial advisors and their impact on the announcement effects of US acquirers in cross-border M&As. Two hypotheses are tested: one pertains to the acquiring firms' home preference in selecting financial advisors, and the other relates to...
Persistent link: https://www.econbiz.de/10013098169
This paper provides evidence on how corporate multinationality from the perspective of acquiring firms relates to M&A returns. Using multivariate regressions and a large dataset of over 6,000 M&As (both cross-border and domestic) by UK firms during 1987 to 2014, the paper finds multinationality...
Persistent link: https://www.econbiz.de/10012841978
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
This paper studies the impact of M&A of Canadian firms by emerging market firms on the stock performance of the acquired firms from 2000 to 2016, using the short-term window event study. We find that the abnormal return of target firms on the event day is 10.3 percent and the cumulative abnormal...
Persistent link: https://www.econbiz.de/10012922584
Average stock price reactions of industry peers in horizontal foreign acquisitions around deal announcements are significantly negative. The stock price effects increase with relatively high market-to-book ratio peers, with larger acquirers, and with the differences in industry specialization...
Persistent link: https://www.econbiz.de/10013292646
This paper examines whether foreign acquisition of Chinese firms improves share price performance relative to domestic acquisitions. The results show that foreign acquisitions are not associated with positive abnormal returns in the short-run, but that they are so associated for domestic...
Persistent link: https://www.econbiz.de/10013080592
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
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