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Productivity and the internationalization of firms : cross-border acquisitions versus greenfield investments

Trax, Michaela - 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/10009124247

Minority Shareholders' Enforcement of Corporate Governance in Takeovers : An English Law Perspective on the Belgian Fortis Bank Case

Lee, Joseph - 2016

The Fortis Bank takeover court case demonstrates how shareholders' claims can make a merger and takeover case less … speedy and, indeed, more costly. The case also raises a number of legal issues relating to corporate governance in a takeover …-market efficiency and social-legal justice in intervening in a financial takeover. The case reveals the divergent views taken by the two …

Persistent link: https://www.econbiz.de/10012998313

The Effects of Cross-Border M&As on the Acquirers’ Domestic Performance – Firm-Level Evidence

Stiebale, Joel; Trax, Michaela S. - 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...

Persistent link: https://www.econbiz.de/10014198173

Mergers and the Evolution of Patterns of Corporate Ownership and Control : The British Experience

Cheffins, Brian R. - 2010

An intense academic debate has arisen recently concerning the crucial bedrock that underpins a corporate governance regime where widely-held public companies dominate. In the discourse, little has been said about the contribution of merger activity. The paper seeks to address this gap by...

Persistent link: https://www.econbiz.de/10014069991

The Reality of the UK Takeover Regulations (with 'Notice to Advisers in Contested Bids' by the Takeover Panel)

Watanabe, Hiroyuki - 2020

This is a short article on UK takeover regulations and was prepared for the meetings with the specialists on Takeovers … on the wall of the waiting room of the UK Takeover Panel …

Persistent link: https://www.econbiz.de/10014094223

Does monetary policy affect mergers and acquisitions?

Fischer, Johannes; Horn, Carl-Wolfram - 2021 - This version: March 1, 2021

We analyse the effects of monetary policy on mergers and acquisitions (M&A) activity in the United States, both on the aggregate and the firm level. We find that aggregate M&A activity decreases significantly following a monetary policy shock. The aggregate results are confirmed by an analysis...

Persistent link: https://www.econbiz.de/10013342089

Staying Power of UK Buy-outs

Jelic, Ranko - 2023

This paper examines 1,089 private equity (PE) backed and non-PE backed (pure) UK buy-outs, determinants of their survival, and exit behaviour during the period of 1966-2004. Our results suggest that 56% of the pure sample buy-outs remained in a buy-out organisational form for at least 7 years...

Persistent link: https://www.econbiz.de/10014362417

Exits, Performance, and Late Stage Private Equity : The Case of UK Management Buy-outs

Jelic, Ranko; Wright, Mike - 2023

Using a hand-collected dataset of 1,225 buy-outs, we examine post buy-out and post exit long term abnormal operating performance of UK management buy-outs, during the period 1980-2009. Our univariate and panel data analysis of post buy-out performance conclusively show positive changes in...

Persistent link: https://www.econbiz.de/10014355840

Employee Views of Leveraged Buy-Out Transactions

Lambert, Marie; Moreno, Nicolas; Phalippou, Ludovic; … - 2021

A large sample of employee reviews shows a decline in satisfaction after a Leveraged Buy-Out (LBO), but with significant heterogeneity. The key driver is the previous ownership structure. For Private-to-Private transactions, dissatisfaction is concentrated in non-management employees and comes...

Persistent link: https://www.econbiz.de/10014359265

Is attack the best form of defence? : A competing risks analysis of acquisition activity in the UK

Dickerson, Andrew P.; Gibson, Heather D.; Tsakalōtos, … - 1999

Persistent link: https://www.econbiz.de/10001415678