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Private Equity Takeovers and Employment in the UK : Some Empirical Evidence

Goergen, Marc - 2011

This study investigates the employment consequences of private equity acquisitions, in particular institutional buy-outs (IBOs), in the UK. It involves a pre- and post-acquisition analysis of employment and performance characteristics for a sample of acquired firms and a matched sample of...

Persistent link: https://www.econbiz.de/10013121725

Regulation of Takeovers in the European Union and in the United Kingdom : Does the Purpose of Regulation Outweigh the Importance of Methods?

Pechackova, Martina - 2011

The article focuses on regulation of takeovers in the European Union (EU) and in the United Kingdom (UK) with the aim to discuss and assess the relative importance of primary purpose of the regulation, i.e. facilitation of takeovers and change of control, and means of achievement of the...

Persistent link: https://www.econbiz.de/10013124001

Productivity and the Internationalization of Firms – Cross-Border Acquisitions Versus Greenfield Investments

Trax, Michaela S. - 2011

This paper extends the literature on the determinants of international activity at the firm level towards cross-border acquisitions and greenfield investments as different modes of FDI using a rich dataset of British firms. While multinational firms are characterized by higher productivity...

Persistent link: https://www.econbiz.de/10013125224

Directors' Network and the Method of Payment in Mergers and Acquisitions

Amaro de Matos, Joao - 2012

This paper studies the impact of the network centrality of directors on the choice of payment method in mergers and acquisitions of firms in which they sit at the board. We assume that the centrality of directors reduces information asymmetry problems, facilitating information transmission...

Persistent link: https://www.econbiz.de/10013100094

The Effect of Takeovers on the Fundamental Value of Acquirers

Guest, Paul M. - 2012

of takeover on profitability and short and long run share returns. We find that the impact of acquisition on fundamental … value is slightly negative but statistically insignificant. This result differs from the effect of takeover on profitability …, which is significantly positive, and the effect of takeover on share returns, which is significantly negative …

Persistent link: https://www.econbiz.de/10013103144

The Impact of Mergers and Acquisitions on Executive Pay in the United Kingdom

Guest, Paul M. - 2012

We examine the impact of acquisitions by UK acquirers on executive pay. The overall sample shows a significant transitory pay increase. Pay changes are not affected by target nationality or organizational form, although initial cross-border acquisitions result in higher pay. Pay increases are...

Persistent link: https://www.econbiz.de/10013103147

Board Share Ownership and Takeover Performance

Cosh, Andy - 2012

We investigate the relation between takeover performance and board share ownership in the acquiring company for a … on takeover outcomes including: the means of payment; acquirer size and market to book value; the relative size of the … acquirer and the target; the nature of the bid in terms of hostility and industrial direction; and the pre-takeover performance …

Persistent link: https://www.econbiz.de/10013103238

Are Stock-for-Stock Acquirers of Unlisted Targets Really Less Overvalued?

Louis, Henock - 2012

Extant studies on the market reaction to acquisition announcements often assume that targets' private ownership mitigates acquirers' incentives and opportunities to finance acquisitions with inflated stocks. This view is supported by the observation that, although the average stock-for-stock...

Persistent link: https://www.econbiz.de/10013104369

Female Directors and UK Company Acquisitiveness

Dowling, Michael M. - 2013

The presence, and proportion, of female directors is found to strongly influence the level of acquisitiveness of a company. This finding is made through a novel dataset covering significant size acquisitions made by FTSE 100 constituents between 2000 and 2011 and includes multiple controls for...

Persistent link: https://www.econbiz.de/10013091743

Director Networks and Takeovers

Renneboog, Luc - 2013

We study the impact of corporate networks on the takeover process. We find that better connected companies are more … active bidders. When a bidder and a target have one or more directors in common, the probability that the takeover … invited to the board of the combined firm in connected M&As. While connections have a clear impact on the takeover strategy …

Persistent link: https://www.econbiz.de/10013074605