Purpose: It is worth mentioning that mergers and acquisitions (M&As) have become a popular vehicle for emerging-markets firms to rapidly access new opportunities and market capabilities. Indeed, privatization and multi-nationalization have given a greater shore up in raising global and domestic...

We augment efficiency-based theories of ownership by including influence costs. Our principal conclusion is that the prospect of organizational decline and layoffs creates additional influence costs in multi-unit organizations that would be absent if there were no prospect of layoffs and would...

Purpose – The purpose of this paper is to investigate bidder and target returns in the time surrounding merger and acquisition (M&A) announcements. Design/methodology/approach – The paper employs parametric and non-parametric tests and regressions on holding period and abnormal returns to...

Purpose – The purpose of this paper is to provide a comprehensive initial evaluation of divestiture gains for reacquired carve-out parent and subsidiary second event and three-year returns for the period 1980-2010. Design/methodology/approach – Using several variables, we contrast reacquired...

Purpose - The purpose of this paper is to determine the market-value relevance of frontier efficiency scores and to test hypotheses from corporate control and production theory by analyzing the market response to US property–liability (P–L) insurer acquisitions and divestitures....

Purpose – Recapitalization, mergers, and acquisitions are the most crucial issues confronting the Nigerian Insurance Industry (NII) in recent times. Yet information relating to these issues is rarely reported in print. The purpose of this paper is to present the results of a survey aimed at...

Purpose – The purpose of this paper is to examine the communication challenges Merrill Lynch encountered during the transition phase and post‐merger with Advest and the subsequent problems that resulted in drastically fewer numbers of Advest advisors joining, or staying with, Merrill Lynch...

Purpose – The purpose of this illustrative case‐based research is to analyze and evaluate the 2004 controversial merger of two high‐profile French pharmaceutical companies, Sanofi‐Synthelabo and Aventis. Design/methodology/approach – This is a case‐based research paper that relates...

Purpose – The paper aims to examine the consequences of a cross‐border acquisition on business network changes in the Russian bakery industry. Design/methodology/approach – This study employs the IMP group's network approach to analyse the empirical single case study with two embedded...

Purpose – This paper aims to discuss the important and changing role of personal networks for transformation in Russia, and the related challenges for management. Formal institutions supporting the transformation to a market economy have been weak and Russian managers still tend to rely on...