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Small acquirers enjoy announcement period returns that are significantly higher than announcement returns for larger acquirers, but small acquirers significantly underperform after the acquisition is consummated. We investigate why the market appears to “get it wrong” at the announcement of...
Persistent link: https://www.econbiz.de/10012905556
In late 2017, DuraTable received a number of unsolicited inquiries regarding its interest in selling out in a going private transaction, mostly from private equity firms. Since the chairman of the board and founder, Gary Reynolds, was approaching retirement age and the largest single shareholder...
Persistent link: https://www.econbiz.de/10011991223
-term financial management of small and medium-sized enterprises in Europe. Return on assets is used as a proxy for profitability and …Short-term financial management involves the management of current assets and liabilities, which directly affect an … organisation's liquidity and profitability. This study aims to examine the relationship between the operating performance and short …
Persistent link: https://www.econbiz.de/10013010129
In this paper, we examine the impact of mergers among German savings banks on the extent to which these savings banks engage in small business lending. The ongoing consolidation in the banking industry has sparked concerns about the continuous availability of credit to small businesses which has...
Persistent link: https://www.econbiz.de/10003784021
Assessing the impacts of bank mergers on small firms requires separating borrowers with single versus multiple banking relationships and distinguishing the three alternatives of "staying," "dropping," and "switching" of relationship. Single-relationship borrowers who "switch" to another bank...
Persistent link: https://www.econbiz.de/10013137850
This paper empirically investigates a sample of German domestic merger and acquisitions (M&As) in the 1990s to analyze the importance of a related technology portfolio in the decision to acquire a particular firm. The novelty of this analysis lies in the fact that the sample does not contain...
Persistent link: https://www.econbiz.de/10013070999
Assessing the impacts of bank mergers on small firms requires separating borrowers with single versus multiple banking relationships and distinguishing the three alternatives of "staying," "dropping," and "switching" of relationships. Single-relationship borrowers who "switch" to another bank...
Persistent link: https://www.econbiz.de/10013156656
Acquisition growth is not a common theme in entrepreneurship research. Entrepreneurial growth has traditionally been addressed as organic growth, i.e. as internal expansion through the extension of existing operations and internally induced process and product innovations. We contend that...
Persistent link: https://www.econbiz.de/10012773465
We empirically examine the impact of bank consolidation on bank acquisition of soft information about borrowers. Using a dataset of small business financing, we find that mergers of small banks have a negative impact on soft information acquisition, whereas mergers of large banks have no impact....
Persistent link: https://www.econbiz.de/10012954778
Using a sample of listed firms in India, the study finds that the inter-firm network on account of director interlocks is a small world and the network has become more integrated since the introduction of corporate governance regulations in the country. Firm level analysis finds a negative...
Persistent link: https://www.econbiz.de/10013035367