Are Acquisitions Worthwhile An Empirical Study Of The Post Acquisition Performance Of Privately Held Belgian Companies Involved In Take Overs

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Are Acquisitions Worthwhile? An Empirical Study of the Post Acquisition Performance of Privately Held Belgian Companies Involved in Take-Overs

Author : Tine De Langhe
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Are Acquisitions Worthwhile? An Empirical Study of the Post Acquisition Performance of Privately Held Belgian Companies Involved in Take-Overs by : Tine De Langhe

Download or read book Are Acquisitions Worthwhile? An Empirical Study of the Post Acquisition Performance of Privately Held Belgian Companies Involved in Take-Overs written by Tine De Langhe and published by . This book was released on 2001 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few studies have addressed the performance of smaller unquoted companies involved in take-overs, especially in the Continental European countries. Therefore this study addresses the post-take-over financial characteristics of privately held companies involved in 143 Belgian take-overs between 1992 and 1994. Specifically, this paper examines the financial performance of the acquiring firm after the take-over, using statistical analysis of industry-adjusted variables. Our findings show that following the take-over, the profitability, the solvency and the liquidity of most of the combined companies decline. This decline is also reflected in the failure prediction scores. With respect to the added value, take-overs are found to be accompanied by increases in the labour productivity, caused by the general improvement of gross added value per employee of Belgian companies in the last ten years and partly caused by laying off the target's workers. So it seems that, contrary to the general expectations and beliefs, take-overs usually do not seem to improve the acquirer's financial performance.

Pre-acquisition Profile of Privately Held Companies Involved in Takeovers

Author : Jan Camerlynck
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.:/5 (91 download)

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Book Synopsis Pre-acquisition Profile of Privately Held Companies Involved in Takeovers by : Jan Camerlynck

Download or read book Pre-acquisition Profile of Privately Held Companies Involved in Takeovers written by Jan Camerlynck and published by . This book was released on 2000 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Mergers and Acquisitions An Empirical Study of Selected Indian Companies

Author : Dr Leesa Mohanty
Publisher : Archers & Elevators Publishing House
ISBN 13 : 938650149X
Total Pages : pages
Book Rating : 4.3/5 (865 download)

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Book Synopsis Mergers and Acquisitions An Empirical Study of Selected Indian Companies by : Dr Leesa Mohanty

Download or read book Mergers and Acquisitions An Empirical Study of Selected Indian Companies written by Dr Leesa Mohanty and published by Archers & Elevators Publishing House. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Impact of Merger and Acquisition Activities on Corporate Performance Measured on an Accounting and Market Base

Author : Malwina Woznik
Publisher : GRIN Verlag
ISBN 13 : 3656475709
Total Pages : 115 pages
Book Rating : 4.6/5 (564 download)

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Book Synopsis The Impact of Merger and Acquisition Activities on Corporate Performance Measured on an Accounting and Market Base by : Malwina Woznik

Download or read book The Impact of Merger and Acquisition Activities on Corporate Performance Measured on an Accounting and Market Base written by Malwina Woznik and published by GRIN Verlag. This book was released on 2013-08-07 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2013 in the subject Business economics - Controlling, grade: 1,3, University of Cologne (Seminar für allgemeine BWL und Controlling), language: English, abstract: “Warren Buffett swallows Heinz: Sauce for the sage” – a typical takeover announcement was published lately on 14th February 2013. Warren Buffett, a well known inves tor, acquired along with the financial investor 3G Capital the H. J. Heinz Company for $ 28 billion. This is likely to become the largest transaction in the food industry. The company's stock price rose more than 20.0 percent after the publication which is a very characteristic reaction to deal announcements. Hence, the important question is, if transactions, such as the takeover of the H. J. Heinz Company, affect the corporate performance consistently. In general, the core idea about mergers and acquisitions (M&A) is to generate additional future growth if for example organic growth is limited. If two companies merge or a target is bought by another company (the acquirer), shareholders believe in synergy effects. These are revenue enhancements, cost reductions, tax gains and reduced capital requirements leading to business growth and thus to a higher value of the new company. However, it is questionable if this theory can also be experienced in the real world. Ever since the effects of M&A have been analysed, the market of the United States (US) was used as data source. This is plausible due to the fact that the very first information was well recorded for US companies. It is remarkable that literature contributes very little research on Europe, although the number of announced European transactions is comparable to those of the US. For example, in 2007 the European deals volume overtook the one from the United States of America (USA) for the first time. Moreover, research on single European countries almost never exists or only rarely. One exception is the United Kingdom (UK) with an early takeover history beginning in the 1960s. However, European countries should be analysed separately because of its high diversity regarding the accounting framework, the corporate governance or the legal and regulation structure. For instance, Germany is characterised by conservative accounting principles and a high regulation by the banking sector. These issues may also influence the M&A decision making process.

Pre-acquisition Profile of Privately Held Companies Involved in Takeovers

Author : Jan Camerlynck
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (91 download)

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Book Synopsis Pre-acquisition Profile of Privately Held Companies Involved in Takeovers by : Jan Camerlynck

Download or read book Pre-acquisition Profile of Privately Held Companies Involved in Takeovers written by Jan Camerlynck and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Economics and Econometrics

Author : Nikiforos T. Laopodis
Publisher : Routledge
ISBN 13 : 1000506088
Total Pages : 787 pages
Book Rating : 4.0/5 (5 download)

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Book Synopsis Financial Economics and Econometrics by : Nikiforos T. Laopodis

Download or read book Financial Economics and Econometrics written by Nikiforos T. Laopodis and published by Routledge. This book was released on 2021-12-14 with total page 787 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial Economics and Econometrics provides an overview of the core topics in theoretical and empirical finance, with an emphasis on applications and interpreting results. Structured in five parts, the book covers financial data and univariate models; asset returns; interest rates, yields and spreads; volatility and correlation; and corporate finance and policy. Each chapter begins with a theory in financial economics, followed by econometric methodologies which have been used to explore the theory. Next, the chapter presents empirical evidence and discusses seminal papers on the topic. Boxes offer insights on how an idea can be applied to other disciplines such as management, marketing and medicine, showing the relevance of the material beyond finance. Readers are supported with plenty of worked examples and intuitive explanations throughout the book, while key takeaways, ‘test your knowledge’ and ‘test your intuition’ features at the end of each chapter also aid student learning. Digital supplements including PowerPoint slides, computer codes supplements, an Instructor’s Manual and Solutions Manual are available for instructors. This textbook is suitable for upper-level undergraduate and graduate courses on financial economics, financial econometrics, empirical finance and related quantitative areas.

The Long-term Operating Performance of European Mergers and Acquisitions

Author : Marina Vladimirovna Martynova
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (15 download)

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Book Synopsis The Long-term Operating Performance of European Mergers and Acquisitions by : Marina Vladimirovna Martynova

Download or read book The Long-term Operating Performance of European Mergers and Acquisitions written by Marina Vladimirovna Martynova and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Pre-Post Acquisition Comparison of Financial Performance of Companies

Author : Suruchi Juneja
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783847373414
Total Pages : 80 pages
Book Rating : 4.3/5 (734 download)

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Book Synopsis Pre-Post Acquisition Comparison of Financial Performance of Companies by : Suruchi Juneja

Download or read book Pre-Post Acquisition Comparison of Financial Performance of Companies written by Suruchi Juneja and published by LAP Lambert Academic Publishing. This book was released on 2012 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Acquisitions are used to gain competitive advantage over other firms through gaining greater market share for improving competitiveness of companies and, entering new markets and geographies, capitalizing on economies of scale and broadening the portfolio to reduce business risk, etc. India has emerged as one of the top countries with respect to merger and acquisition deals. Indian companies have been actively involved in acquisitions in India domestically as well as internationally, as India increase its participation in M&A deals. This research study is aimed to study the Pre & Post Acquisition Comparison of Financial Performance Of Acquiring Companies [With special reference to Manufacturing sector in India (2000-2006)] by examining some pre- and post-acquisition financial ratios of these firms and to see the differences in the pre acquisition and post acquisition ratios of the firms that go for acquisitions. The results suggest that acquisitions did not experience any significant increase in profitability of the overall firms in the post acquisition period.

The Impact of Acquisitions on Firm Performance

Author : Carmine Gioia
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis The Impact of Acquisitions on Firm Performance by : Carmine Gioia

Download or read book The Impact of Acquisitions on Firm Performance written by Carmine Gioia and published by . This book was released on 2013 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: The general purpose of this paper is to investigate the effects of ownership change on the performance of private and closely held companies. The research is conducted on a single European country, Denmark, in the period from 1991 to 1999. We test the matching theory of ownership change presented by Lichtenberg and Siegel (1992) and find empirical support on the hypothesis that changes in ownership via acquisition can be a mechanism to correct for lapses in efficiency. Acquisition targets are characterized by a low level of factor productivity at the time prior to the acquisition compared to non acquired companies, and to their industry median. Acquired firms benefit from the change of ownership and improve their productivity and financial performance in the post acquisition period. Among surviving firms, acquisitions have a positive effect on sales and employment growth, suggesting an increase in the scale and efficiency of the firm. Selectivity bias and endogeneity have been taken into account during the estimatio n.

Predicting Post-acquisition Performance

Author : David R. King
Publisher :
ISBN 13 :
Total Pages : 210 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Predicting Post-acquisition Performance by : David R. King

Download or read book Predicting Post-acquisition Performance written by David R. King and published by . This book was released on 2002 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Merger and acquisition (M&A) activity represents a major force in the global business environment, whether measured by the number or the value of deals. Even though existing research finds acquisitions, on average, do not improve firm performance, the dominant explanation for why firms pursue acquisitions is that they seek increased performance. There is a recognized need to model post-acquisition performance to help distinguish between acquisitions that will fail and those that will succeed. By addressing methodological shortcomings in existing post-acquisition performance research, the present research develops a model for predicting when acquisitions of high-technology targets result in improved performance. Implications for both theory and managerial practice are identified.

Business Transfers, Family Firms and Entrepreneurship

Author : Bérangère Deschamps
Publisher : Routledge
ISBN 13 : 1000322963
Total Pages : 228 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis Business Transfers, Family Firms and Entrepreneurship by : Bérangère Deschamps

Download or read book Business Transfers, Family Firms and Entrepreneurship written by Bérangère Deschamps and published by Routledge. This book was released on 2020-12-14 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: ‘Business transfer’ refers to the transfer of ownership and leadership from one or more outgoing owner-manager(s) to one or more incoming owner-manager(s). Apart from all the company's material assets, it presupposes that information, relationships, know-how and social capital are also transmitted from one to the other. While much of the research on entrepreneurship has focused on new business ventures, few studies have considered business transfers as an alternative way of embarking on entrepreneurial activities. Business Transfers, Family Firms and Entrepreneurship provides the international community with a more comprehensive state-of-the-art of business transfer studies, which will enrich readers’ understanding. The business transfer is examined through different prisms: family businesses, internal business transfers to employees, external business transfers, and woman in business transfers. This book deals with business transfer as a whole, following a logic of continuity and sustainability for the transferred firm. It offers a refreshing point of view on business transfers, in terms of both the process and the actors, and from both the seller’s and the buyer’s sides. It presents the research on all types of business transfer including internal and external transfers and will be of interest to researchers, academics, and students in the fields of entrepreneurship, small business management, family business, and strategic management. It can also be instructive for practitioners and stakeholders involved in a business transfer.

Frontiers of Entrepreneurship Research

Author :
Publisher :
ISBN 13 :
Total Pages : 784 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Frontiers of Entrepreneurship Research by :

Download or read book Frontiers of Entrepreneurship Research written by and published by . This book was released on 2010 with total page 784 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Organizational Culture and Performance

Author : Henrietta M. Okoro
Publisher : Rowman & Littlefield
ISBN 13 : 0761873295
Total Pages : 239 pages
Book Rating : 4.7/5 (618 download)

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Book Synopsis Organizational Culture and Performance by : Henrietta M. Okoro

Download or read book Organizational Culture and Performance written by Henrietta M. Okoro and published by Rowman & Littlefield. This book was released on 2022-12-15 with total page 239 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent merger waves in most organizations fail to increase organizational performance and sustain a competitive advantage. Several U.S. organizational mergers failed to sustain market competition and retain employees. Most consolidated and merged banks in Nigeria are in distress and have failed to increase organizational performance. Currently, organizational leaders are facing challenges regarding how to integrate two or more merged cultures to maintain employee commitment, job satisfaction, and employee retention. The author used a quantitative correlational and regression study that collected data related to a merged bank in Abuja, Federal Capital Territory (FCT) of Nigeria, to examine if a relationship existed between organizational culture and organizational performance. The study results indicated that a measure of the combination of cultural traits (mission, involvement, consistency, and adaptability) had a significant relationship with each of the organizational performance measures (employee commitment, job satisfaction, and employee retention). The need to provide solutions to the failed mergers and strategies for sustaining higher performance in partnership mergers and acquisitions becomes imperative. In this book, Henrietta Okoro integrates organizational culture traits with insights from research to provide readers with distinctive strategies to improve and sustain employee retention, job satisfaction, and higher organizational performance. Emphases were made on distressed banks, global bank mergers, acquisitions trends, and implications for sustainability. Recommendations were provided to leaders in various industries and future research prospects. The book highlights the factors of job satisfaction, employee commitment, thinking beyond financial gain in mergers and acquisitions, failure as a learning tool, and the cultural traits necessary to sustain creativity and higher organizational performance. Throughout the book, Henrietta Okoro draws from compelling examples of the merged organizations and research in the social sciences to demonstrate the relationship between organizational culture and performance and how it can enhance employee retention, job satisfaction, and higher organizational performance. The book further provides an excellent resource for business sectors that grasp market globalization, organizational leaders, higher institutions, scholars, professionals, researchers, and project managers, in various industries and other corporate sectors with the synergy intent of merger and acquisition to sustain market diversification, improved performance, customer base, and business synergy expansion.

Post-acquisition Performance

Author : Pertti Nupponen
Publisher :
ISBN 13 : 9789517910057
Total Pages : 238 pages
Book Rating : 4.9/5 (1 download)

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Book Synopsis Post-acquisition Performance by : Pertti Nupponen

Download or read book Post-acquisition Performance written by Pertti Nupponen and published by . This book was released on 1995 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Company Acquisitions

Author : Ronald Albert Goddard
Publisher :
ISBN 13 :
Total Pages : 202 pages
Book Rating : 4.:/5 (593 download)

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Book Synopsis Company Acquisitions by : Ronald Albert Goddard

Download or read book Company Acquisitions written by Ronald Albert Goddard and published by . This book was released on 1985 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Company Acquisitions

Author : Ronald Albert Goddard
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (593 download)

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Book Synopsis Company Acquisitions by : Ronald Albert Goddard

Download or read book Company Acquisitions written by Ronald Albert Goddard and published by . This book was released on 1985 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Mergers, Acquisitions, and Corporate Restructurings

Author : Patrick A. Gaughan
Publisher : John Wiley & Sons
ISBN 13 : 1119380758
Total Pages : 676 pages
Book Rating : 4.1/5 (193 download)

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Book Synopsis Mergers, Acquisitions, and Corporate Restructurings by : Patrick A. Gaughan

Download or read book Mergers, Acquisitions, and Corporate Restructurings written by Patrick A. Gaughan and published by John Wiley & Sons. This book was released on 2017-11-27 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essential M&A primer, updated with the latest research and statistics Mergers, Acquisitions, and Corporate Restructurings provides a comprehensive look at the field's growth and development, and places M&As in realistic context amidst changing trends, legislation, and global perspectives. All-inclusive coverage merges expert discussion with extensive graphs, research, and case studies to show how M&As can be used successfully, how each form works, and how they are governed by the laws of major countries. Strategies and motives are carefully analyzed alongside legalities each step of the way, and specific techniques are dissected to provide deep insight into real-world operations. This new seventh edition has been revised to improve clarity and approachability, and features the latest research and data to provide the most accurate assessment of the current M&A landscape. Ancillary materials include PowerPoint slides, a sample syllabus, and a test bank to facilitate training and streamline comprehension. As the global economy slows, merger and acquisition activity is expected to increase. This book provides an M&A primer for business executives and financial managers seeking a deeper understanding of how corporate restructuring can work for their companies. Understand the many forms of M&As, and the laws that govern them Learn the offensive and defensive techniques used during hostile acquisitions Delve into the strategies and motives that inspire M&As Access the latest data, research, and case studies on private equity, ethics, corporate governance, and more From large megadeals to various forms of downsizing, a full range of restructuring practices are currently being used to revitalize and supercharge companies around the world. Mergers, Acquisitions, and Corporate Restructurings is an essential resource for executives needing to quickly get up to date to plan their own company's next moves.