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This paper focuses on how corruption affects an important internationalization behavior of firms: the extent of control - wholly owned subsidiary or equity participation - exercised by firms involved in cross-border mergers and acquisitions (M&A). Recently, scholars have recommended studying the...
Persistent link: https://www.econbiz.de/10011484494
top to the bottom decile of the measure of uniqueness of the corporate strategy of the post-merger company is associated … decile; they also have subsequent one-year-post-merger-closing profitability which is about 1.25% lower than their peer group … with more unique corporate strategy. These findings are stronger for a measure of uniqueness that compares the post-merger …
Persistent link: https://www.econbiz.de/10013128367
This article provides new evidence on the important role of institutional investors in affecting corporate strategy. Institutional cross-ownership between two firms not only increases the probability of them merging, but also affects the outcomes of mergers and acquisitions (M&As). Institutional...
Persistent link: https://www.econbiz.de/10012903520
Takeover bidders in stock-for-stock mergers have strong incentives to increase their own pre-merger stock prices to … underexplored opportunistic behavior by takeover bidders …
Persistent link: https://www.econbiz.de/10012904676
Based on secondary data and interviews of executives, this paper reviews mergers during last decade in India. Based on … this review of mergers of companies in India, the author finds that there is a positive impact of mergers on earning per … share and therefore there is a tendency on the part of companies to go for merger with the ultimate objectives of gaining …
Persistent link: https://www.econbiz.de/10012896030
We examine takeover auctions when an informed bidder has better informationabout the target value than a rival and …
Persistent link: https://www.econbiz.de/10013290302
Corporate strategic Mergers and Acquisitions (M&A) mean focus on growth (e.g. revenue growth) and aim to enhance the firm's competitive position. The academic literature reports however, an extremely high failure rate of strategic M&A – their outcomes are very difficult to forecast and they...
Persistent link: https://www.econbiz.de/10012997186
This paper uses a rich panel data set of Indian manufacturing firms to analyze the effects of domestic and international acquisitions on various outcomes at target firm and product level. We apply recent methodological advances in the estimation of production functions together with information...
Persistent link: https://www.econbiz.de/10011548253
success of a merger, it is to be ascertained if there is financial gain from mergers. The present study is limited to a sample … of companies listed in BSE which underwent merger during the period of 2002-2005. It is proposed to compare the … performance after the merger event …
Persistent link: https://www.econbiz.de/10013127761
of India. Due to inadequate emphasis on the human resource aspect, employee resistance acted as impediment to merger of … context, process and consequences of the merger of State Bank of Indore with the largest nationalized banking firm, State Bank …
Persistent link: https://www.econbiz.de/10013113574