Top Research Papers on Mergers and Acquisitions

This seminar provides students with a comprehensive overview of important issues in mergers and acquisitions (M&A). Each of the nine topics discussed in the seminar (see below) is based on a chapter of the book " Applied Mergers & Acquisitions " by Robert Bruner and on an additional research paper that highlights a specific aspect of the topic of interest.

Drivers Of Mergers & Acquisitions M&a See all of the details and many other http://kankoo.mralhan.hop.clickbank.net Thousands Of People Want This Research Paper For Reference.

This study was carried out to gain more understanding on Merger and Acquisitions (M&A) and secondly to identify the drivers that motivates companies to go for M&A. The authors reviewed 13 related journals and found that one of the main reason companies decided to enter M&A was because to increase management effectiveness and efficiency. The authors also found that the term synergy is variously being used in M&A. Basically, in a simple word synergy can be expressed as one plus one equal to three. It can be also defined as the potential financial benefit can be accomplished through the merging o...

Mergers and acquisitions (M&As) are on the rise. Interlocking processes of globalization and financialization have increased their attractiveness and incentivized an upward spiral of M&A activity in recent years. This rise is profoundly spatial, as M&As reshape the geographies of production, consumption and finance, while aggravating uneven power-geometries through the concentration of corporate control. Despite this growth and inherent spatiality, economic geography research into M&As has waned. The aim this article is to demonstrate the value of M&As to economic geographers and highlight ave...

Η συγκεκριμένη διδακτορική διατριβή αξιολογεί τη χρηματοοικονομική απόδοση των Συγχωνεύσεων και Εξαγορών (Σ&Ε) στον τραπεζικό κλάδο των Η.Π.Α., καθώς και άλλα αποτελέσματα των Σ&Ε, χρησιμοποιώντας ένα δείγμα που περιλαμβάνει 3.107 ανακοινώσεις τραπεζικών Σ&Ε κατά την περίοδο 1986-2020. Ειδικότερα, η παρούσα διατριβή στοχεύει στη διερεύνηση των παραγόντων που επηρεάζουν την απόδοση, το προσφερόμενο premium, τη μέθοδο πληρωμής και το χρόνο που απαιτείται έως την ολοκλήρωση της συμφωνίας, λαμβάνοντας υπόψη το ρόλο της οικονομικής πολιτικής αβεβαιότητας. Ως προς τη βραχυπρόθεσμη αποδοτικότητα, οι ...

We re-examine the abnormal returns (ARs) around merger announcements using a large sample of 8,945 announcements. We estimate the ARs using the Carhart (1997) fourfactor model under the standard ordinary least square (OLS) method and the Glosten et al.'s (1993) asymmetric GARCH specification (hereafter, GJR-GARCH). Under the OLS method, acquirers do not generate significant cumulative ARs (CARs) in line with prior work. Our new results, however, show that under the GJR-GARCH estimation, acquirers generate positive and significant cumulative CARs. We attribute the gains to the use of the GJR-GA...

Outlines two basics of successful mergers and acquisitions: agree on who has to change; and ensure suitable cultures. Examines organizational culture in combining organizations, beginning before significant changes were introduced. Employs three figures to aid in explanation of the arguments. Sums up that when little integration is required, cultural compatibility is of less importance.

Declares an acquisition is successful if the returns to shareholders increase following acquisition, allowing for the acquisition premium paid. Gives the findings as: value loss; impact of the premium; strategic relatedness; the payment method; method of acquisitions; and relative size. Looks, also, at key implications and post‐deal integration.

This study analyzed activism that leads to a merger or acquisition (M&A) of a firm to see its benefits for the shareholders at the target firm as well as its acquirer. It used over thirty years of data to understand the impact of the activists’ demands of strategic significance for the firms. It examined the premium fetched at acquisition announcement, bid counts and cash versus stock offers to see the benefits of activism to the target firm and its shareholders. It checked the performance reflected in the premium fetched to compare activists based on their overall experience, industry special...

This Guide provides lists of suggested resources for researching various legal and practice topics relating to mergers and acquisitions.

This thesis examines the impact of merger and acquisition (M&A) on innovation outputs. The focus is on two questions, a. evaluation of pre-acquisition characteristics of intangible asset capability (patent portfolio’s) of target and acquiring companies and b. post-acquisition impact of M&As on the innovation outputs. Metal Oxide Chemical Vapour Deposition (MOCVD) technology, which is one of the primary drivers of semiconductor industry is selected for investigating the M&A trend over past two decades. A summary of the interrelationship between innovation outputs and M&A trends is deduced based...

In recent years the world has gone through a wave of banking merger acquisition(MA)that has never be seen before.It shows a significant effect of MAs on financial development.With the increased severe international financial competition,many international banking institutions undertake mergers and acquisitions constantly to improve their competitive advantages and strive for a stand in the process of integration in the globalized financial market.The wave of MA,which is sweeping all over the world,will bring significant changes to the global banking industry.

Looks at cross‐border cultural factors that are influential in mergers and acquisitions (M&A) settings and considers it is an under‐researched area — drawing from cross‐border culture research carried out in other sectors of management. States that, thanks to experience in M&A and other inter‐company and international settings, managers are continuously asking questions about culture — right at the heart of M&A decision‐making.

States mergers and acquisitions (M&A) activity produces notoriously mixed results but that some companies do very well using M&A to grow shareholder returns at a phenomenal rate. Records that M&A, long seen as the domain of finance and strategy, is becoming something to be managed across all management disciplines. Spotlights a table that gives many basic choices with regard to M&A.

Getting Started in Mergers and Acquisitions. Planning and Finding. Valuation and Pricing. Financing and Refinancing. Structuring M/A/B Transactions: General, Tax, and Accounting Considerations. The Due Diligence Inquiry. Pension, Labor, and Compensation Concerns. Negotiating the Letter of Intent and the Acquisition Agreement. Closing. Postmerger Integration. Workouts and Bankruptcies. Special Issues for M&A in Public Companies. M&A in Family Businesses, Partnerships, Franchises, and Nonprofits. Beyond M&A: Spin-Offs and Strategic Alliances. Special Issues for Transactions with the Internationa...

Mapping the number of completed mergers and acquisitions (M&As) over the past few decades wouldproduce a line roughly following the fluctuations of the business cycle. The most recent peak wasm ...

Jennifer Schaus & Associates host a series of topics on government contracting. A full list of recorded webinars is available at http://JenniferSchaus5.eventbrite.com This webinar covers mergers & acquisitions in government contracting. Bob Dinkel and...

In terms of annual gross tonnage, China's shipbuilding sector ranked second in the world in 2019. CSSC integrated the industrial chain through M&A, eventually becoming the world's first shipbuilding group six years later. The purpose of this research is to investigate if the third merger and reorganization are propelling CSSC to become the world's first shipbuilding group. This article will utilize the event observation method and financial accounting analysis to investigate how the third merger and reorganization affected CSSC's value. The third M&A restructuring announcement has boosted mark...

In 1993, a wave of mergers and acquisitions (M&A´s) started that has broken all earlier records in magnitude. This is despite the fact that statistics stress increasingly dull performance results. ...

The major aim of this thesis is to elevate the understanding of the cross-cultural characteristics of Mergers and Acquisitions (M&As). It determines and contrasts Critical Success Factors (CSFs) focusing on comprehensive examples such Western Europe M&As by Chinese and Hong Kong (HK) firms plus Chinese and Hong Kong M&As by Western European firms. The research considers various crucial dimensions such as the cultural, leadership, organisational, process, strategic, and externalities according to the dynamic capabilities in M&As. For a better understanding of issues related to culture in this r...

Bilan des fusions et des acquisitions d'entreprises, dans le secteur de l'energie, en 1995 et 1996, dans le monde a l'exception du Canada et des Etats Unis

The MA of the enterprises is a main mode for realizing the low-cost expansion,and the objective existence of the MA risks makes often the prospective targets of the MA fail to be realized and cause various failures of the MA.This paper analyzes on the main risks in the course of the MA such as the strategical risk,financial risk,enterprise culture integrating risk and market risk,and based on this analysis,puts forward some measures for preventing these risks.

The study examines merger and acquisition and the performance of insurance industry in Nigeria (pre-M&A 2011- 2015) and (post-M&A 2016-2020) five years each. The study adopts a sample of three (3) conveniently selected insurance firms in Nigeria. The study used profitability (PRF) as the dependent variable while investment income (IVI), underwriting profit, total asset (TA0 and shareholders wealth (SHE) as the independent variables. Panel data was used, Ordinary Least Squares estimation technique was also tested with the aid of E-views 9. The study found that the p-value for investment income ...

This paper delves into the integration of empirical findings and theoretical insights into Business Model Canvas within the M&A Matchmaking Platform for Middle Europe, aiming to enhance process streamlining, risk identification, and shareholder communication. Utilizing Proto-Persona analysis, representative user personas are crafted to understand customer requirements for mergers and acquisitions. The M&A Matchmaking platform addresses the absence of digital solutions tailored to M&A users in Central Europe. Data mining and internal document analysis inform the interpretation of Business Model...

This paper introduces the connotations of MA of enterprises, lists several famous cases of enterprises’ MA, analyzes the financial risks in the course of enterprises’ MA, and puts forward some countermeasures for preventing the financial risk.

This thesis examines the impact of bank mergers and acquisitions (M&As) on lending behaviour by commercial banks. We use the data set of large European commercial banks from 1997 to 2005. Empirical models are formulated to explain the effects of mergers on bank loan pricing behaviour, interest margin setting, credit availability and lending objectives. The analysis provides evidence that mergers have statistically significant influence on reduced lending rates, interest margins and loan supply. In addition, lending objectives for merged and non-merging banks are different, in that merge-involv...

In this study, we evaluate the impact of R&D intensity on acquiring firms’ abnormal returns by examining 925 Canadian completed deals between 1993 and 2002 that have information on R&D expenditures. While examining the returns to acquiring firm shareholders in the R&D intensive firms we evaluate two competing hypotheses: ‘growth potential hypothesis’ and ‘integration failure hypothesis’. According to the ‘growth potential hypothesis’, in light of the growth potential of the targets acquired by R&D intensive firms, investors are likely to react positively. ‘Integration failure hypothesis’ focus...

This study attempts to investigate the significance of financial advisers in M&As. Specifically the complexity of the deals and the performance of advisers are examined. The results show that the third tier advisers were more likely to complete the deals compared to the first and the second tier advisers. In term of speed of completion, both the first and the second tier advisers did not outperform the third tier advisers. It is also found that different tiers of financial advisers were not significant in determining the wealth effect.

Starting from the motivation of MA,this paper emphasizes that the selection of the target enterprise should be made from the strategical height,the value assessment should be made for the target enterprise,and the framework of SWOT analysis should be introduced into the strategical management,and a more completed procedure for selecting the target enterprise should be put forward.

With more than 500 million subscribers, India is the second largest mobile phone market in the world after China. In the last decade, an average of 15 Telecom operators has started operations in India. The market has been flamboyant for Indian as well as Foreign investors. Many of them are entering through the Merger and Acquisition route. The Governing Regulatory Authorities have a responsibility that no irregularity occurs and that every investor is given equal opportunity. Spectrum which is a constrained essential input for mobile services is also highly fragmented leading to possible indus...

第１章 新人類のゲーム「Ｍ＆Ａ」 第２章 ＵＳＸ買収劇とボウスキー事件 第３章 独占から多角化へ—歴史分析 第４章 Ｍ＆Ａの経済学—動機と理論 第５章 産業社会へのインパクト 第６章 Ｍ＆Ａのノウ・ハウ—投資銀行 第７章 ジョイントベンチャーと国際化戦略 第８章 海外進出と投資摩擦 第９章 日本企業のＭ＆Ａ

Mergers and acquisitions have morphed into a gateway for financial prosperity. However, research shows that a significant number of these deals do not pan out well thus introducing an element of risk. With Tesla geared at maintaining its position as a leader in the renewables market, its acquisition of SolarCity in 2016 is worth appraising. With quarterly data from Tesla, the study employs a mixed approach to ascertain the changes in various aspects of financial risk for the company. Results show that liquidity risk and solvency risk characterize Tesla’s post-acquisition period. This is furthe...

The decrease in business activity and the fall in the production volume in the sectors of economy relying on long-term crediting is characteristic feature of the modern recessions. The pessimistic expectations of entrepreneurs concerning product demand leads to falling direct investment into business despite unlimited investment opportunities due to the developed capital markets nowadays. As a result it has created the opportunity for the development of the acquisition of enterprises. Potential investors are different and their investment motivation is different, but the goal is the same – t...

Almost 70% of mergers fail, yet deals are essential for growing world-class companies. Therefore they must use all the tools and techniques at their disposal to improve their chances of success. Applying the techniques advocated in this book can help managers beat the odds - and employees themselves - to have an impact on whether a deal will be successful both for the company and for themselves. This book looks at the process of a merger or acquisition and pinpoints the areas where business intelligence can raise the odds of success in each phase of the deal. Using techniques developed by ...

In order to survive and grow, business organizations often utilize mergers and acquisitions strategically. The hotel industry’s academic community has been unable to find clear evidence of the impacts of M&As. The purpose of this study is to discover plausible evidence about the impacts of M&A in the lodging market, within a context limited to four case studies. The acquiring companies investigated in this study achieved some degree of positive synergy as a result of their acquisitions. However, maintaining an ongoing improvement in long-term value to shareholders through acquisitions was doub...

In this paper, we responded to recent calls for the use of a greater variety of qualitative methods in the study of inter-organizational encounters, including mergers and acquisitions (M&As). The paper provided a reflection on the authors’ experiences in carrying out two studies of merger processes in the UK and Finland, one ethnographic and one combing also autoethnographic methods. Contrasts between the former case of an “outsider” entering into an ethnographic study and the latter case of an auto-ethnographer with a dual role as a researcher and integration team member were highlighted. The...

The result of this research shows feasibility of recommending M&A from big data by providing a clustering method with cash flow features and company relationship features, and analyzing the relationships between features from financial items.

Mergers and acquisitions have become a common phenomenon in recent times. Companies have been actively involved in mergers and acquisitions domestically as well as internationally. The increased competition in the global market has prompted the Companies to go global for mergers and acquisitions as an important strategic choice. Mergers & Acquisitions (M&A) are the strategic growth devices in the hands of more and more Companies not only to stay in the competition but also to extend their margins, market share and dominance globally. The scale and the pace at which merger activities are coming...

Imagine that you have reached the pinnacle of your career, and you are sitting in the driver’s seat of a multi-billion dollar enterprise. Business is good, sales are up, and the stock market responds to your company’s performance. In such circumstances, a chief executive officer (CEO) may sit back in his or her chair and ask, “So, what’s next? Do I add more staff, buy more equipment, build more plants, or expand globally?” This paper reviews the road map for a successful pre and post M&A team strategy. The writer attempts to develop a framework for a successful transaction. Every M&A transacti...

The result of MA in medicinal industry makes the industrial concentration degree be increased, the situation of the oligarch monopolization and the industrial cluster occur initially, the economic profits centralize towards the advantage enterprises, and the negative profit area of the industry be extended continuously.

The system helps to securely transfer from the target to the acquirer for any given M&A transaction and support access protocol based on privacy policies is introduced.

Recent years have seen a significant rise in M&A activity, and Indian companies have played a crucial role both as acquirers and targets. Inorganic growth strategies like mergers and acquisitions have been championed by both Corporate Managers and Investment Bankers as important engines that help companies to grow fast, enter new markets, expand customer base, and acquire technology and expertise. Traditional wisdom would suggest that M&A's should be able to unlock shareholder value through economies of scale and consolidation of assets and human capital. Research, however, shows that approxim...

Companies that have acquired other enterprises through mergers and acquisitions (MA their practice of "tolerance" within their organizations/societies. While there are books on the topics of M&A and empires, at present there is no single text that examines the impact of culture on both. This book is intended to fill such a void and provide hints and suggestions to those practitioners of M&A as well as students of business and history who want an accessible, non-technical narrative on what makes empires, whether they are of the nation or of M&A endure and prosper.

Acquisitive growth has become a highly popular strategy in recent years. Thus, more attention has been focused on its outcomes. This paper presents theory suggesting a tradeoff between growth by acquisition and managerial commitment to innovation. The model developed herein proposes that the acquisition process, and the resulting conditions after the acquisition is consummated, affect managerial commitment to innovation. Specifically, the extent to which acquisitions serve as a substitute for innovation, energy and attention required during negotiations, increased use of leverage, increased si...

LPs exposed to M&A are more likely to experience higher levels of burn-outs but having social support can protect against burn-out, which has policy implications for leadership managing laboratories in times of M &A.

A course guide listing resources for MGT434H5 students. Learn how to use FactSet for M&A research.

With the quick advances of economic globalization and the deepening of marketization reform,corporate merger and acquisition(MA) in China has presented a new trend,including internalization in the scope,behavior in market ways,securitization and the form diversity.However,there are many restricted factors in Chinese tax law,such as unreasonable tax structure,incomplete tax items and non-unified tax systems,which distort the behavior;affect the development of capital market.Therefore,some measures should be taken to eliminate the reverse effects of tax law on corporate MA.

The objective of this study is to identify and analyse the impact of merger and acquisition (M&A) in the Malaysian banking industry.

This paper introduces the present situation of the immediate merger and acquisition,and probes into the symptoms of immediate merger and acquisition in the international merger and acquisition from aspects of the trademark problem,the brand growth,the intension of cash flow and the talents crisis.

Mergers and acquisitions (M&A) are the single most transformative activity that a firm can undertake. Successful mergers can transform a company by creating substantial synergies, where the whole exceeds the sum of its parts. On the other hand, a misguided acquisition can waste billions of shareholders’ money. Daimler BenzChrysler, Sprint-Nextel, Quaker Oats-Snapple, AOL-Time Warner are just a few in a long list of mergers that destroyed value for shareholders.