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International Mergers and Acquisitions Activity Since 1990

International Mergers and Acquisitions Activity Since 1990
Recent Research and Quantitative Analysis

by Greg N. Gregoriou,Luc Renneboog

  • Publisher : Elsevier
  • Release : 2007-06-29
  • Pages : 320
  • ISBN : 9780080547329
  • Language : En, Es, Fr & De
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It is now a well-know fact that mergers and acquisitions activity comes in waves. The most recent wave, the 5th takeover wave of the 1990s, was characterized by an unprecedented number of corporate restructurings in terms of mergers and acquisitions (M&As), public-to-private transactions, spin-offs and divestitures, and leveraged recapitalizations. Following the collapse of the stock market in March 2000, M&A activity slumped dramatically, but this pause ended in the second half of 2004 when takeover deals occurred again quite frequently. Indeed, some observers wonder whether the 6th takeover wave has started. The takeover wave in the 1990s was particularly remarkable in terms of size and geographical dispersion. For the first time, Continental European firms were as eager to participate as their US and UK counterparts, and M&A activity in Europe hit levels similar to those experienced in the US. Due to its financial impact and the unprecedented activity in Continental Europe, the 5th takeover wave of the 1990s and recent takeover activity (in biotech, utilities, pharmaceuticals) have triggered a great deal of interesting academic research. This volume brings together a selection of insightful papers. An impressive group of international authors address the following themes: takeover regulation; the cyclical pattern of the M&A markets and probable causes and effects; methods to determine the performance of success of M&A actions; cross border deals; means of payment and its effects; studies of hostile bids; high leverage takeovers and delistings. *A selection of the best and latest quantitative research on M&A activity worldwide *Impressive collection of international authors *Provides important insights and implications for practitioners

Cross-border Mergers and Acquisitions

Cross-border Mergers and Acquisitions
Theory and Empirical Evidence

by O. Morresi,A. Pezzi

  • Publisher : Springer
  • Release : 2014-11-19
  • Pages : 238
  • ISBN : 1137357622
  • Language : En, Es, Fr & De
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Since their explosion in the mid-1990s, mergers and acquisitions (M&As) have turned into a global phenomenon with growing prevalence. A large number of theoretical and empirical studies focus on cross-border deals from several perspectives, such as motives, strategic issues, and performance. Most books treat these studies as specific characteristics of M&As, paying little attention to the distinctive elements that differentiate them from domestic operations. In short, there is now a real need for a fresh review and categorization of cross-border deals. Cross-Border Mergers and Acquisitions is the first book to provide readers with a complete guide to understanding the main concepts, theories, and results driving cross-border M&As. Morresi and Pezzi present an original framework that ties together the growing body of theoretical and empirical studies on the topic. This work describes the relevance of the phenomenon in terms of its economical, geographical, and historical impact, and analyzes the market- and accounting-based performance of cross-border deals.

Location Strategies and Value Creation of International Mergers and Acquisitions

Location Strategies and Value Creation of International Mergers and Acquisitions
A Book

by Ludivine Chalen?on

  • Publisher : John Wiley & Sons
  • Release : 2017-03-27
  • Pages : 388
  • ISBN : 1786300494
  • Language : En, Es, Fr & De
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This title enriches both areas of research, finance and international management to analyze the choice of location and value creation in mergers and acquisitions. Our research answers the following question: What are the determinants of the location and value creation in mergers and acquisitions?

Mergers and Acquisitions and Executive Compensation

Mergers and Acquisitions and Executive Compensation
A Book

by Virginia Bodolica,Martin Spraggon

  • Publisher : Routledge
  • Release : 2015-06-26
  • Pages : 228
  • ISBN : 1317624319
  • Language : En, Es, Fr & De
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Over the past decades, the total value of executive compensation packages has been rising dramatically, contributing to a wider pay gap between the chief executive officer and the average worker. In the midst of the financial turmoil that brought about a massive wave of corporate failures, the lavish executive compensation package has come under an intense spotlight. Public pressure has mounted to revise the levels and the structure of executive pay in a way that will tie more closely the executive wealth to that of shareholders. Merger and acquisition (M&A) activities represent an opportune setting for gauging whether shareholder value creation or managerial opportunism guides executive compensation. M&As constitute major examples of high-profile events prompted by managers who typically conceive them as a means for achieving higher levels of pay, even though they are frequently associated with disappointing returns to acquiring shareholders. Mergers and Acquisitions and Executive Compensation reviews the existing empirical evidence and provides an integrative framework for the growing body of literature that is situated at the intersection of two highly debated topics: M&A activities and executive compensation. The proposed framework structures the literature along two dimensions, such as M&A phases and firm’s role in a M&A deal, allowing readers to identify three main streams of research and five different conceptualizations of causal relationships between M&A transactions and executive compensation. The book makes a comprehensive review of empirical studies conducted to date, aiming to shed more light on the current and emerging knowledge in this field of investigation, discuss the inconsistencies encountered within each stream of research, and suggest promising directions for further exploration. This book will appeal to researchers and students alike in the fields of organizational behavior and governance as well as accounting and accountability.

Acquisitions by Emerging Multinational Corporations

Acquisitions by Emerging Multinational Corporations
Motivation and Performance of Transactions in Western Europe and North America

by Johannes Distler

  • Publisher : Springer
  • Release : 2017-07-27
  • Pages : 429
  • ISBN : 3658191120
  • Language : En, Es, Fr & De
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This thesis analyzes the motivation and performance of 403 acquisitions made by emerging multinational corporations (EMNCs) in Western Europe and North America between 1994 and 2013. The findings indicate that most EMNCs were motivated to acquire in order to obtain access to the upstream and downstream know-how of their target firms. In addition, the thesis' event study results demonstrate that EMNCs on average generated value for their shareholders with their acquisitions over short periods around acquisition announcement. This result is particularly significant since similar studies on buying firms from developed markets have frequently come to the conclusion that acquirers destroy shareholder value.

Corporate Governance and Regulatory Impact on Mergers and Acquisitions

Corporate Governance and Regulatory Impact on Mergers and Acquisitions
Research and Analysis on Activity Worldwide Since 1990

by Greg N. Gregoriou,Luc Renneboog

  • Publisher : Elsevier
  • Release : 2007-07-26
  • Pages : 304
  • ISBN : 0080549322
  • Language : En, Es, Fr & De
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Corporate Governance and regulatory presssures have been much in the news lately. How they affect the bottom line of corporations has been difficult to quantify, and research is just beginning to be published that addresses this crucial question. This book is the first collection for new research about the impact of takeover regulation and corporate governance on M&A financial results. It will be essential reading to any M&A specialist, an investment banker, a hedge fund manager, a private equity director, or a venture capitalist. Also a must read for financial analysts who follow M&A targets. The book presents research from around the world so it provides a global perspective on this important topic. *The first and only book of research on takeover regulation and corporate governance affecting M&A results *Stands out from all the "How to" books on M&A and M&A disaster books because it provides solid high-quality research on what works and how different decisions affect company and shareholder value *Research provides a guideline for decisionmakers in investment banks, private equity companies, and for financial analysts

Annual Report

Annual Report
A Book

by European Central Bank

  • Publisher : Unknown Publisher
  • Release : 2002
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Annual Report

Annual Report
A Book

by European Monetary Institute

  • Publisher : Unknown Publisher
  • Release : 2003
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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International Finance & Treasury

International Finance & Treasury
A Book

by Anonim

  • Publisher : Unknown Publisher
  • Release : 2001
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Do All Networks Facilitate International Commerce?

Do All Networks Facilitate International Commerce?
US Law Firms and the International Market for Corporate Control

by Simon J. Evenett

  • Publisher : Unknown Publisher
  • Release : 2003
  • Pages : 28
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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This paper estimates the effects of several American law firms' international networks of offices on the total value of overseas mergers and acquisitions (M & A) by US corporations. Nowadays many nations can review proposed mergers and US law firms help clients overcome such regulatory hurdles, effectively greasing the market for corporate control. However, they can also oppose transactions that are inimical to their clients' interests. I present evidence that suggests that Baker & McKenzie the US law firm with the most overseas offices has facilitated such transactions, whereas the combined effect of the next five largest American law firms has tended to reduce such M & A

Bank Mergers & Acquisitions

Bank Mergers & Acquisitions
A Book

by Yakov Amihud,Geoffrey Miller

  • Publisher : Springer Science & Business Media
  • Release : 2013-04-17
  • Pages : 236
  • ISBN : 1475727992
  • Language : En, Es, Fr & De
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As the financial services industry becomes increasingly international, the more narrowly defined and historically protected national financial markets become less significant. Consequently, financial institutions must achieve a critical size in order to compete. Bank Mergers & Acquisitions analyses the major issues associated with the large wave of bank mergers and acquisitions in the 1990's. While the effects of these changes have been most pronounced in the commercial banking industry, they also have a profound impact on other financial institutions: insurance firms, investment banks, and institutional investors. Bank Mergers & Acquisitions is divided into three major sections: A general and theoretical background to the topic of bank mergers and acquisitions; the effect of bank mergers on efficiency and shareholders' wealth; and regulatory and legal issues associated with mergers of financial institutions. It brings together contributions from leading scholars and high-level practitioners in economics, finance and law.

Working Paper Series

Working Paper Series
A Book

by Anonim

  • Publisher : Unknown Publisher
  • Release : 2003
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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The British National Bibliography

The British National Bibliography
A Book

by Arthur James Wells

  • Publisher : Unknown Publisher
  • Release : 2007
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Global Patterns Fo Mergers and Acquisition Activity in the Financial Services Industry

Global Patterns Fo Mergers and Acquisition Activity in the Financial Services Industry
A Book

by Roy C. Smith

  • Publisher : Unknown Publisher
  • Release : 1996
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Northwestern Journal of International Law & Business

Northwestern Journal of International Law & Business
A Book

by Anonim

  • Publisher : Unknown Publisher
  • Release : 1984
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Retail Trade International

Retail Trade International
A Book

by Anonim

  • Publisher : Unknown Publisher
  • Release : 1992
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Euromoney International Finance Yearbook

Euromoney International Finance Yearbook
A Book

by Anonim

  • Publisher : Unknown Publisher
  • Release : 1990
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Quarterly Review

Quarterly Review
A Book

by Anonim

  • Publisher : Unknown Publisher
  • Release : 1992
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Monthly Bulletin

Monthly Bulletin
A Book

by Anonim

  • Publisher : Unknown Publisher
  • Release : 2002
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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Merger and Acquisition Sourcebook

Merger and Acquisition Sourcebook
A Book

by Walter Jurek

  • Publisher : Unknown Publisher
  • Release : 2006
  • Pages : 329
  • ISBN : 9876543210XXX
  • Language : En, Es, Fr & De
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