Performance Measurement Of Acquisitions And Acquisition Series

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Performance Measurement of Acquisitions and Acquisition Series

Author : Jens Engelhardt
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (611 download)

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Book Synopsis Performance Measurement of Acquisitions and Acquisition Series by : Jens Engelhardt

Download or read book Performance Measurement of Acquisitions and Acquisition Series written by Jens Engelhardt and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: "The profitability of merger and acquisition (M&A) activity has generated a small mountain of research over the past 20 years" (Bruner, 2002: 48). This 'small mountain' uses a variety of measures to determine acquisition success - with more than ambiguous results. This thesis adds to this discussion from a different perspective: practitioners were asked to illustrate their approach to measuring acquisition performance. Drawing from a survey of 24 very active acquirers, this thesis generates two main findings. First, it reviews the various criteria used to measure acquisition performance and presents manager's assessment of each of them. Findings indicate that accounting-based measures and non-financial criteria are significantly more important than those of a stock market nature. This contradicts most academic approaches that favor stock market-related measurement (in most cases using abnormal returns). In addition, the mutual relatedness of the criteria is discussed. Second, the thesis identifies companies that have pursued or are currently pursuing an acquisition program, defined as the acquisition of several mutually related targets. Five of these companies are introduced in more detail, as are the characteristics of their respective acquisition program. I also elaborate on the performance measurement of these programs. A five-dimensional framework is used to compare the performance measurement of the case study companies. Results show that acquisition programs have existed for quite a while. Only one major difference could be found to the measurement of single acquisitions: due to their larger relative size, acquisition programs have a more significant potential impact on the company's stock price and, as such, are more carefully watched by analysts and shareholders. Hence, stock market-oriented criteria seem to be more meaningful than for single acquisitions.

Evaluating Companies for Mergers and Acquisitions

Author : Pervez Ghauri
Publisher : Emerald Group Publishing
ISBN 13 : 1783506210
Total Pages : 198 pages
Book Rating : 4.7/5 (835 download)

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Book Synopsis Evaluating Companies for Mergers and Acquisitions by : Pervez Ghauri

Download or read book Evaluating Companies for Mergers and Acquisitions written by Pervez Ghauri and published by Emerald Group Publishing. This book was released on 2014-06-04 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume in the IBM series investigates how the evaluation of a target firm influence the outcome of mergers and acquisitions (M&As). Co-authored by international business expert Pervez Ghauri, it highlights the processes that evaluate potential acquisition targets, and how a proper evaluation can positively influence the M&A performance.

The Measurement of Operating Performance Following Corporate Acquisitions

Author : Allan Eberhart
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis The Measurement of Operating Performance Following Corporate Acquisitions by : Allan Eberhart

Download or read book The Measurement of Operating Performance Following Corporate Acquisitions written by Allan Eberhart and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine a sample of 1,175 firms following their acquisition of another firm. Consistent with previous work, we measure the operating performance of these firms in event-time, and find that they experience significantly positive abnormal operating performance subsequent to their acquisition. When we measure their abnormal operating performance in calendar-time, however, we find that our sample firms' abnormal operating performance is insignificant. In short, we find that the standard event-time measures of abnormal operating performance overstate the benefits of corporate acquisitions.

Mergers and Acquisitions

Author : David R. King
Publisher : Routledge
ISBN 13 : 042989080X
Total Pages : 158 pages
Book Rating : 4.4/5 (298 download)

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Book Synopsis Mergers and Acquisitions by : David R. King

Download or read book Mergers and Acquisitions written by David R. King and published by Routledge. This book was released on 2018-10-30 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: The process of identifying and evaluating a target firm, completing a deal after its negotiation and announcement, and then integrating a target firm after legal combination is a multi-year process with uncertain returns to acquiring firms. Research on mergers and acquisitions (M&As) is progressing rapidly yet it remains fragmented across multiple research perspectives that largely examine different acquisition phases separately and coincide with a focus on different research variables. As a result, research fragmentation means that a researcher in one area may be unaware of research from related areas that is likely relevant. This contributes to research silos with M&A research displaying different traditions, starting points, and assumptions. Mergers and Acquisitions: A Research Overview summarizes the frontier in M&A research and provides insights into where it can be expanded. It undertakes the needed integration and reconciliation of research in order to derive practical knowledge for managing acquisitions from beginning to end, providing a summary of what is known and its implications for future research. This concise overview reconciles and integrates the state of the art in our understanding of mergers and acquisitions, providing an essential first stopping point in the research journey of students and scholars working in this area.

The Handbook of Mergers and Acquisitions

Author : David Faulkner
Publisher : Oxford University Press, USA
ISBN 13 : 0199601461
Total Pages : 773 pages
Book Rating : 4.1/5 (996 download)

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Book Synopsis The Handbook of Mergers and Acquisitions by : David Faulkner

Download or read book The Handbook of Mergers and Acquisitions written by David Faulkner and published by Oxford University Press, USA. This book was released on 2012-06-07 with total page 773 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook bridges hitherto separate disciplines engaged in research in mergers and acquisitions (M&A) to integrate strategic, financial, socio-cultural, and sectoral approaches to the field. It examines the management processes involved, as well as valuations and post-acquisition performance, and considers international and sectoral dimensions.

Mergers and Acquisitions

Author : Olimpia Meglio
Publisher : Springer Nature
ISBN 13 : 3030404595
Total Pages : 223 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis Mergers and Acquisitions by : Olimpia Meglio

Download or read book Mergers and Acquisitions written by Olimpia Meglio and published by Springer Nature. This book was released on 2020-03-07 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides scholars and practitioners in mergers and acquisitions (M&As) with a solid foundation for further research. M&As continue to shape the economic landscape across the globe. While there is already a huge body of scholarly work on the subject, findings appear contradictory and academics and practitioners often struggle to understand what factors make M&As successful. Due to the lack of an agreed-upon definition, research findings appear contradictory, while in fact they are often simply not comparable. To address this, the book rethinks how we measure key umbrella constructs. It specifically focuses on the conceptualization phase of the measurement process, often taken for granted in the current research.

The Complete Guide to Mergers and Acquisitions

Author : Timothy J. Galpin
Publisher : John Wiley & Sons
ISBN 13 : 1118827236
Total Pages : 484 pages
Book Rating : 4.1/5 (188 download)

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Book Synopsis The Complete Guide to Mergers and Acquisitions by : Timothy J. Galpin

Download or read book The Complete Guide to Mergers and Acquisitions written by Timothy J. Galpin and published by John Wiley & Sons. This book was released on 2014-07-21 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ease the M&A process with a more effective integration plan The Complete Guide to Mergers and Acquisitions is the ultimate handbook for planning and managing post-merger integration. Packed full of "how to" guidance, tools, templates and resources that have been put to the test on numerous due diligence and integration efforts around the world, The Complete Guide to Mergers and Acquisitions has been the go-to guide for firms seeking to maximize the value of their deals since the release of the first edition in 1999. Poor integration management virtually ensures that a merger or acquisition will fail to meet financial and strategic goals. The Complete Guide to Mergers and Acquisitions provides the information that enables firms to quickly and prudently capture projected cost and revenue synergies, and to move the combined organization forward. The book addresses strategic deal considerations, due diligence, integration management, people dynamics and cultural integration, common integration mistakes, communications strategies, and provides actionable steps toward creating measurable, positive results throughout the integration process. The updated third edition contains new information and tools to help firms in any industry manage deals of all sizes, including: Results of The State of M&A Integration Effectiveness Survey, 2014 A new chapter on the M&A process deal stages, with an expanded Deal Flow Model Findings of substantial M&A research from various studies in multiple industries and organizations, supporting the concepts presented throughout the book New and revised tools and templates for due diligence, integration, and results measurement and reporting New case examples of recent transactions Highlighted 'Key Principles' throughout each chapter A summary of key points at the end of each chapter Discussion questions addressing the key themes of each chapter A 'rapid assessment' diagnostic regarding the key elements of each chapter, which can be completed for any organization A revised chapter on taking your M&A game to the next level – essential requirements for building M&A capabilities into a consistently successful enterprise competency Merger and acquisition activity across the globe continues to grow, and is also playing a major role in the development of expanding markets. A well-managed integration effort is essential to success, and failure means a tremendous waste in terms of time and money, as well as the rapid destruction of shareholder value. The Complete Guide to Mergers and Acquisitions: Process Tools to Support M&A Integration at Every Level, Third Edition is an invaluable resource to guide firms in managing M&A integration and maximize the value of their deals.

Financial Analysis of Mergers and Acquisitions

Author : Eli Amir
Publisher : Springer Nature
ISBN 13 : 3030617696
Total Pages : 304 pages
Book Rating : 4.0/5 (36 download)

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Book Synopsis Financial Analysis of Mergers and Acquisitions by : Eli Amir

Download or read book Financial Analysis of Mergers and Acquisitions written by Eli Amir and published by Springer Nature. This book was released on 2021-02-02 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers and acquisitions (M&As) reshape the corporate landscape helping companies expand market share and gain a strategic advantage. The ability to understand and analyze these transactions is a crucial skill. The first step in acquiring that skill is being able to gather and analyse information on M&As from public sources, such as financial statements. This textbook helps its readers better analyze M&A transactions using information provided in financial statements. Covering accounting and reporting of consolidations, goodwill, non-controlling interests, step acquisitions, spin-offs, equity carve-outs, joint ventures, leveraged buyouts, disposal of subsidiaries, special purpose entities, and taxes, it focuses on the link between underlying economic events and the information in financial statements and how this link affects the assessment of corporate performance. The first part of the book provides description of the accounting rules governing M&A transactions, while the second part includes cases of M&A transactions. Each case focuses on a different element of an M&A transaction, and it is followed by a detailed solution with a complete analysis. Unlike other books in this field, this textbook focuses exclusively on accounting and financial analysis for graduate and upper undergraduate level courses in financial analysis, corporate finance, and financial accounting.

Performance Measurement in Defense Acquisitions

Author : Terry F. Buss
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (314 download)

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Book Synopsis Performance Measurement in Defense Acquisitions by : Terry F. Buss

Download or read book Performance Measurement in Defense Acquisitions written by Terry F. Buss and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal government is becoming increasingly "corporate" and, consequently, business-like operations are now more prevalent than ever. Part of the mandate to "act like a business" is a need to develop strategic plans and goals, which require metrics to quantify what is to be attained. In this environment, an effective performance-management program is essential to success. The ASN (RD & & A) has updated its strategic plan in support of the DoD's efforts to transform the military based on these environmental changes. Its efforts to implement a revised performance-management program in support of its revised plan offer potential insights into performance measurement in defense acquisitions.

Advances in Mergers and Acquisitions

Author : Sydney Finkelstein
Publisher : Emerald Group Publishing
ISBN 13 : 0857244655
Total Pages : 225 pages
Book Rating : 4.8/5 (572 download)

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Book Synopsis Advances in Mergers and Acquisitions by : Sydney Finkelstein

Download or read book Advances in Mergers and Acquisitions written by Sydney Finkelstein and published by Emerald Group Publishing. This book was released on 2010-12-20 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Helps scholars think about mergers and acquisitions in new ways, building our knowledge base on this critical topic. This book focuses on all three characteristics that make up this research field - studies from scholars in different countries, with different research questions, and relying on different theoretical perspectives.

A Comprehensive Guide to Mergers & Acquisitions

Author : Yaakov Weber
Publisher : Pearson Education
ISBN 13 : 0133014150
Total Pages : 241 pages
Book Rating : 4.1/5 (33 download)

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Book Synopsis A Comprehensive Guide to Mergers & Acquisitions by : Yaakov Weber

Download or read book A Comprehensive Guide to Mergers & Acquisitions written by Yaakov Weber and published by Pearson Education. This book was released on 2014 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Leverage today's most complete and practical framework for driving superior business value from mergers and acquisitions -- both domestic and international. A Comprehensive Guide to Mergers and Acquisitions Management focuses on critical success factors across every stage of the process, including planning, screening, negotiation, due diligence, transition management structures, post-merger integration, leadership and trust, cultural integration, HR practices, control, monitoring, and more. Authored by Yaakov Weber, an international expert in M&A management, strategic alliances, and strategic management, this book's uniquely interdisciplinary approach fully addresses both operational and cultural requirements, supporting participants in every role. Replete with recent examples and cases, it pays special attention to crucial strategic and behavioral linkages between pre- and post-merger stages, explaining why they are so important and how they can be managed to create maximum value. Throughout, Weber provides practical tools, tables, and figures that can help M&A implementers ensure best performance and achieve success where others have failed. As just one example, he provides proven instruments for analyzing cultural differences and the potential for synergy, and translating that potential into reality. For multiple audiences, including board members and top executives who must evaluate the strategic and financial issues associated with M&A; investment bankers, VCs, and other investors who must screen and select acquisitions; managers who must execute business combinations; consultants in strategy, HR, culture, and other areas; and faculty and students in executive education, MBA, and BA-level business programs.

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:

Performance of the Defense Acquisition System 2016 Annual Report

Author : United States Government Department of Defense
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781542727167
Total Pages : 224 pages
Book Rating : 4.7/5 (271 download)

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Book Synopsis Performance of the Defense Acquisition System 2016 Annual Report by : United States Government Department of Defense

Download or read book Performance of the Defense Acquisition System 2016 Annual Report written by United States Government Department of Defense and published by Createspace Independent Publishing Platform. This book was released on 2017-01-24 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Performance of the Defense Acquisition System 2016 Annual Report A key part of improving a system is objectively measuring its performance and the effects of policies, processes, and inputs on the outcomes of the system. Without this, we cannot tell where we have problems, what is working (or not), and whether management changes are making things better (or worse). In the case of defense acquisition, the primary outcome is the value of operational capabilities delivered in time for our warfighters to address threats. Unfortunately, it is very difficult to measure the final operational performance and value of our systems across systems and commodities. Our reports can objectively measure and thus focus on the cost, schedule, and technical performance of our acquisitions-aggregated to look for statistically significant trends together with correlates, institutional differences, and theory to inform ways to improve future outcomes. Each performance measure has its strengths and weaknesses, so we use multiple measures (e.g., at both the program and contract level) and subsequent analysis to see if the answers point in the same direction. We add experience and theoretical insights to guide our conclusions. This is the fourth annual report on the Performance of the Defense Acquisition System, using quantitative analysis of broad data to measure institutional performance. This annual report series is a central part of Better Buying Power (BBP). It continues to reflect results in defense acquisition performance from ongoing DoD compliance with the Improve Acquisition Act of 2010 and the earlier Weapon Systems Acquisition Reform Act of 2009. Although similarly motivated, our efforts go beyond the specifics of those laws to seek additional insights for improving the defense acquisition system's performance. This study also fulfills ongoing Office of Management and Budget (OMB) requests for evidence-based analytic studies on acquisition performance. It is encouraging to see evidence of performance improvement over the last few years. However, these results are not a reason to pause in our efforts. They should motivate us to press ahead even more vigorously.

Mergers and Aquisitions

Author : G. Richard Young
Publisher : Routledge
ISBN 13 : 1136513450
Total Pages : 256 pages
Book Rating : 4.1/5 (365 download)

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Book Synopsis Mergers and Aquisitions by : G. Richard Young

Download or read book Mergers and Aquisitions written by G. Richard Young and published by Routledge. This book was released on 2013-10-08 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Thoroughly discussing the problems of uniting two independent companies (problems which are commonly underestimated), this book covers a wide range of subjects such as: laws and regulations governing mergers; consideration of financial and material resources; tax views; research and development prospects, as well as the matching and augmenting of skills and equipment of both companies and the adjustments to be made to stock-holders and servicers. The issues of morale, retaining trained personnel, and the rearrangement of employee benefits and pensions are also examined. Check lists, tabulated examples, a hypothetical case history and a comprehensive bibliography made up the extensive appendices.

Achieving Post-Merger Success

Author : J. Robert Carleton
Publisher : John Wiley & Sons
ISBN 13 : 0787972916
Total Pages : 233 pages
Book Rating : 4.7/5 (879 download)

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Book Synopsis Achieving Post-Merger Success by : J. Robert Carleton

Download or read book Achieving Post-Merger Success written by J. Robert Carleton and published by John Wiley & Sons. This book was released on 2004-07-16 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: “The failure rate of mergers and acquisitions is unreasonable, unacceptable, and unnecessary,” say Claude S. Lineberry and J. Robert Carleton in this much-needed resource, which outlines their unique, proven, and practical process for increasing the success of mergers and acquisitions. Written for all those with a vested interest in the success of the deal—board of directors, executives, managers, employees, and shareholders—and based on years of research and real-world experience, Achieving Post-Merger Success is a down-to-earth guide that gives stakeholders the tools they need to Profile and assess corporate cultures Identify potential or actual culture clash barriers to a merger or acquisition Determine what to do to avoid, minimize, and resolve culture clash Plan for efficient and effective post-merger cultural integration of the two organizations

Strategic Decisions and Sustainability Choices

Author : Olimpia Meglio
Publisher : Springer
ISBN 13 : 3030054780
Total Pages : 214 pages
Book Rating : 4.0/5 (3 download)

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Book Synopsis Strategic Decisions and Sustainability Choices by : Olimpia Meglio

Download or read book Strategic Decisions and Sustainability Choices written by Olimpia Meglio and published by Springer. This book was released on 2019-02-26 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book integrates two different but equally prominent themes in the management field: mergers and acquisitions (M&As) and corporate social responsibility (CSR). It explores questions such as whether strategic goals overlap or conflict with sustainability choices, what the strategic and sustainability tensions are confronting expanding companies, and whether these companies can grow and be socially responsible for a variety of stakeholders. The authors provide a fresh perspective on the study of acquisitions, aiming to inspire the M&A field and using examples from different global and institutional contexts in both developed and developing economies. This ground-breaking book addresses the gap that has existed between acquisitions on the one hand and social responsibility and sustainability on the other, for an integrative perspective on enacting M&As and achieving the triple people-planet-profits bottom line.

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.