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Mergers and Acquisitions in the Indian Pharmaceutical Industry: Nature, Structure and Performance

Beena, S - Volkswirtschaftliche Fakultät, … - 2006

the form of mergers and acquisitions followed by the firms in the Indian pharmaceutical industry. The study found that …

Persistent link: https://www.econbiz.de/10005620025

MERGERS AND ACQUISITIONS WAVES FROM THE EUROPEAN UNION PERSPECTIVE

Mariana, Vancea - In: Annals of Faculty of Economics 1 (2013) 2, pp. 272-283

The purpose of this paper is to analyze the mergers and acquisitions waves that marked the European Union and to …&A (mergers and acquisitions) wave took place in the late 90s (1997-2000), the last wave began around 2003 and ended quickly, in … an increase in mergers and acquisitions activity. We analyzed the evolution of M&As in the European Union, both of the …

Persistent link: https://www.econbiz.de/10010733826

The appeal of private targets in international acquisitions

Madura, Jeff; Susnjara, Jurica - In: Journal of International Financial Markets, … 24 (2013) C, pp. 198-222

Using a sample of 8000 targets in the US and Western Europe over the 1997–2009 period, we find that private targets receive significantly higher payments from bidders than public targets. We find that the private valuation premium is inversely related to the size of the target. We also find...

Persistent link: https://www.econbiz.de/10010747594

Small Business Failure Rates: Choice of Definition and the Size Effect

Watson, John; Everett, Jim - In: Journal of Entrepreneurial Finance 5 (1996) 3, pp. 271-85

Results of many previous studies on the rate of small business failure suggest an inverse relationship between size of business and propensity to fail. However, it has been suggested that this inverse relationship, between firm size and the rate of discontinuance, may more accurately be...

Persistent link: https://www.econbiz.de/10010790702

A target's perspective on the effects of ATPs in takeovers after recognizing its choice in the process

Goktan, M. Sinan; Kieschnick, Robert - In: Journal of Corporate Finance 18 (2012) 5, pp. 1088-1103

The use of antitakeover provisions (ATPs) in corporate charters/bylaws has evoked substantial debate over their costs and benefits. While there are many empirical studies of their effects in takeovers, these studies have ignored the self selection issues introduced by studying completed...

Persistent link: https://www.econbiz.de/10010588373

The effect of reference point prices on mergers and acquisitions

Baker, Malcolm; Pan, Xin; Wurgler, Jeffrey - In: Journal of Financial Economics 106 (2012) 1, pp. 49-71

Prior stock price peaks of targets affect several aspects of merger and acquisition activity. Offer prices are biased toward recent peak prices although they are economically unremarkable. An offer's probability of acceptance jumps discontinuously when it exceeds a peak price. Conversely, bidder...

Persistent link: https://www.econbiz.de/10010593840

Merger waves following industry deregulation

Ovtchinnikov, Alexei V. - In: Journal of Corporate Finance 21 (2013) C, pp. 51-76

-deregulation industry performance. Consistent with this hypothesis, I find that post-deregulation mergers serve a contractionary role …. Bidders and targets in post-deregulation mergers are poor performers prior to the merger and operate with significant excess … capacity. Consistent with the hypothesis that post-deregulation mergers represent a form of exit, the frequency of cash and …

Persistent link: https://www.econbiz.de/10010664738

Post-merger restructuring and the boundaries of the firm

Maksimovic, Vojislav; Phillips, Gordon; Prabhala, N.R. - In: Journal of Financial Economics 102 (2011) 2, pp. 317-343

restructuring in a short period following mergers and full-firm acquisitions. Acquirers of full firms sell 27% and close 19% of the …We examine how firms redraw their boundaries after acquisitions using plant-level data. We find that there is extensive …

Persistent link: https://www.econbiz.de/10010571650

Equity grants to target CEOs during deal negotiations

Heitzman, Shane - In: Journal of Financial Economics 102 (2011) 2, pp. 251-271

I investigate the determinants and consequences of granting equity to the target's Chief Executive Officer (CEO) during deal negotiations. These negotiation grants likely reflect information about the acquisition, benefit from the deal premium, and provide more timely bargaining incentives. I...

Persistent link: https://www.econbiz.de/10010571669

What happens in acquisitions?

Fee, C. Edward; Hadlock, Charles J.; Pierce, Joshua R. - In: Journal of Corporate Finance 18 (2012) 3, pp. 584-597

We study advertising at the brand level in a sample of corporate acquisitions. New owners display an elevated …

Persistent link: https://www.econbiz.de/10010574234