Purpose - The paper aims to present an exchange ratio for merging companies that incorporates the change in the level of riskiness. Design/methodology/approach - The paper is a theoretical one. Its main objective has been achieved exploiting standard modern finance results such as Capital Asset...

Purpose - Acquisition currency is the possibility, enjoyed mainly by listed companies, of paying for acquisitions with paper (i.e. with conversion shares) instead of financial means, decreasing the participating share of the controlling shareholder as little as possible. The paper seeks to...

Purpose - The purpose of this paper is to analyze how exchange ratios in mergers can be assessed when the companies economic capital valuation is carried out in a stochastic framework with financial assets and minimum guarantees. Design/methodology/approach -The paper is a theoretical one. Its...

Purpose – Prior literature suggests that managers have an incentive to increase stock prices prior to stock-based acquisitions. This article aims to examine if there is any relationship between product market advertising and method of payments in mergers. Design/methodology/approach – To...

As we are in the midst of the one of the longest recessions in US history, more than ever, companies are doing what they must to barely survive through its end. By virtue of their industries, products (both face-to-face and web-embedded) or policies, mergers and acquisitions strategies, a number...

Purpose – The aim of this paper is to describe and qualitatively explain certain observations concerning corporate social responsibility from the personnel standpoint with special reference to various stakeholders. Design/methodology/approach – The observations were made in connection with...

Purpose – The purpose of this paper is to study the question of pre-emptive merger decisions in a composite good framework where these goods have both competitive and complementary features. Design/methodology/approach – The paper constructs a model of partial mergers when there are three...

Purpose – The purpose of this paper is to examine changes in short-sale transactions of target firms and acquiring firms around merger and acquisition (M&A) announcements using daily short-sale transaction data from the New York stock exchange and NASDAQ. The paper further aims to investigate...

Purpose – The purpose of this paper is to report on the study of the two acquisitions of Telecom Italia carried out by Olivetti and Pirelli in the last decade, to evaluate how changes in ownership structure and corporate governance affected minority protection. Design/methodology/approach –...

Purpose – To examine Australian corporate acquisitions data in the context of contemporary acquisitions theory. Design/methodology/approach – Empirical analysis using event study procedures. Findings – The study of Australian acquisitions shows that domestic acquisitions are more likely to...