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Are Cross-Listed Firms Superior Targets? Evidence from Short- and Long-Run Performance of US Bidders

Meknassi, Siham - 2011

We examine the impact of the cross-listing status of target firms and cross-country institutional differences on short- and long-run performance of US bidders in cross-border acquisitions. We show that acquirers realize higher long-run returns when acquiring foreign targets cross-listed on US...

Persistent link: https://www.econbiz.de/10013119627

Operating Performance, Valuation, Leverage, and Corporate Governance of Leveraged Buy-Out Transactions : A Continental European Perspective

Harbula, Péter - 2011

This article aims to analyse the evolution over the recent years of LBO funds, in terms of valuation (asset prices) and the role that leverage and corporate governance played in its evolution.Leverage is one of the positive factors that is supposed to contribute to the success of private equity,...

Persistent link: https://www.econbiz.de/10013123032

Revisiting the Merger and Acquisition Performance of European Banks

Athanasoglou, Panayiotis P. - 2012

The study examines the value creation of Merger and Acquisition (M&A) deals in European Banking from 1990-2004. This is performed, first, by examining the stock price reaction of banks to the announcement of M&A deals and, second, by analysing the determinants of this reaction. The findings...

Persistent link: https://www.econbiz.de/10013098733

Reverse Takeover and Firm Survivability

Jambal, Khishigjargal - 2012

that took place during the 2000–2009 period in the U.S., we find that firms with reverse takeover are more likely to … before the reverse takeover and the new firm is relatively smaller than the public shell. In addition, firms with new CEOs ….Practitioner/Policy Implications: Conventionally, firms try to improve the financial conditions of the merging firms to survive in the reverse takeover …

Persistent link: https://www.econbiz.de/10013103846

Corporate Acquisition Strategies and Economic Performance – A Case of Slovenia

Lahovnik, Matej - 2013

The purpose of this paper is to examine the factors that influenced the performance of acquisitions in Slovenia. The empirical research methodology is based on qualitative part (interviews by using questionnaire) and quantitative part (descriptive statistics, correlation, regression model). In...

Persistent link: https://www.econbiz.de/10013081910

Does the Post-Acquisition Performance of Bidding Firms Depend on the Organizational Form of Targets Acquired?

Shams, Syed - 2013

A number of theoretical arguments such as corporate monitoring hypothesis, liquidity hypothesis and managerial motive hypothesis propose that the acquisitions of private targets are more value creating than the acquisitions of public targets. Using two large samples of acquirers of public...

Persistent link: https://www.econbiz.de/10013087647

Shell Games : The Long Term Performance of Chinese Reverse Merger Firms

Lee, Charles M.C. - 2014

We examine the financial health and performance of reverse mergers (RMs) that became active on U.S. stock markets between 2001 and 2010, particularly those from China (around 85% of all foreign RMs). As a group, RMs are early-stage companies that typically trade over-the-counter. Chinese RMs...

Persistent link: https://www.econbiz.de/10013065341

Firms Performance after Mergers and Acquisition in Indonesia

Sidjabat, Mona - 2013

Mergers and Acquisitions (M&A) involving firms in Southeast Asia, stand at its highest level since the 2008 financial crisis. Deals worth $105.4 billion have either been completed or are pending completion this year, an increase of more than 50% from the $68.6 billion last year. M&A also occurs...

Persistent link: https://www.econbiz.de/10013075621

Newly Adopted Corporate Governance Mechanism Impact on the Performance of Public Japanese Overseas Acquirers

Alzaidi, Faisal - 2017

This paper investigates relationships between two main corporate governance components namely the AntiTakeover Provisions (ATPs) as external component and Ownership Concentration as internal component and the short/long term performance of the Nikkei-listed Japanese cross-border acquirers during...

Persistent link: https://www.econbiz.de/10012963554

Secondary Buyouts : Operating Performance and Investment Determinants

Bonini, Stefano - 2015

Secondary buyouts represent now over 60% of the overall buyout activity. In this paper we investigate the possible determinants of such a spectacular growth. We show that first-round buyers generate a large and significant abnormal improvement in operating performance. In contrast, SBO operating...

Persistent link: https://www.econbiz.de/10013039045