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Current U.S. reporting and tax laws create an incentive for some U.S. firms to avoid the repatriation of foreign …. In this study, we investigate the effect of cash trapped overseas on U.S. multinational corporation's foreign … foreign target firms using cash consideration (lower announcement window returns, lower buy and hold returns, decreased ROA …
Persistent link: https://www.econbiz.de/10013066867
We study how differences in bank regulation influence cross-border bank acquisition flows and the share price reactions to cross-border deal announcements. Using a sample of 7,297 domestic and 916 majority cross-border deals announced between 1995 and 2012, we find evidence of a form of...
Persistent link: https://www.econbiz.de/10013070171
Ltd.) marks the largest Chinese takeover of a U.S. company in history. In this study, we explored how this acquisition …
Persistent link: https://www.econbiz.de/10012963883
We investigate the principal-principal (PP) conflicts between large blockholders in the context of cross-border acquisitions (CBAs). We focus on the conflicts between family blockholders and two groups of financial institutional investors – banks and mutual funds. We hypothesize that different...
Persistent link: https://www.econbiz.de/10012927433
-2006 deal data for targeted Chinese and Indian firms and foreign acquirers. Our empirical analysis resulted in three important … bring higher shareholders' values for foreign acquirers than for domestic acquirers. Third, these empirical results differ …
Persistent link: https://www.econbiz.de/10013038556
as a global growth strategy to serve a variety of their firm-specific objectives like accessing new markets, foreign …
Persistent link: https://www.econbiz.de/10013153464
We study the role of institutional investors in cross-border mergers and acquisitions (M&As). We find that foreign … institutional ownership is positively associated with the intensity of cross-border M&A activity worldwide. Foreign institutional … some substitutability between local governance and foreign institutional investors. The results are consistent with the …
Persistent link: https://www.econbiz.de/10013158587
This paper examines the recent upsurge in foreign acquisitions of U.S. firms, specifically focusing on acquisitions …
Persistent link: https://www.econbiz.de/10013159784
Are divestitures only an ex-post reactive correction of past inefficient acquisitions or are they also an ex-ante proactive strategy to enhance the value of future acquisitions? We find support for the latter. Firms engaging in divestitures before making acquisitions obtain higher abnormal...
Persistent link: https://www.econbiz.de/10012839497
problems. Finally, the multinationality premium appears to be driven by foreign acquisitions into advanced economies. The … be a source of value creation for acquiring firms, particularly in foreign acquisitions, which tend to be complex, and …
Persistent link: https://www.econbiz.de/10012841978