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The Impact Of Mergers And Acquisitions On The Financial Performance Of Acquiring Firms In The Uk House Building Industry
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Book Synopsis The Impact of Mergers and Acquisitions on the Financial Performance of Acquiring Firms in the UK House-building Industry by : Seyedtaban Hajimirza
Download or read book The Impact of Mergers and Acquisitions on the Financial Performance of Acquiring Firms in the UK House-building Industry written by Seyedtaban Hajimirza and published by . This book was released on 2010 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Book Synopsis Impact of Mergers and Acquisitions on Financial Performance by : Anurag Pahuja
Download or read book Impact of Mergers and Acquisitions on Financial Performance written by Anurag Pahuja and published by . This book was released on 2016 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers and acquisitions (M&As) have become an essential mechanism of Corporate Restructuring. In the past two decades, there has been an upsurge in the volume of M&A activity in diverse sectors such as finance, pharmaceuticals, telecom, FMCG and banking sector. The banking industry has also witnessed its own share of M&A activity. The paper is an attempt to analyze the effect of mergers on the pre and post merger performance of Indian Banks. Various ratios along with event study methodology have been used to find out the effect of mergers and acquisitions on the performance of acquiring firms for both pre and post-acquisition periods. The results provide no statistically significant evidence of any impact of mergers and acquisitions on the firm profitability as measured through various ratios.
Book Synopsis The Effect of Mergers and Acquisitions on Long-run Financial Performance of Acquiring Companies by : Dieter Bernhardt Halfar
Download or read book The Effect of Mergers and Acquisitions on Long-run Financial Performance of Acquiring Companies written by Dieter Bernhardt Halfar and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers and acquisitions continue to enjoy importance as strategies for achieving growth, although their success in creating shareholder value remains contested. The aim of this research was to evaluate whether, in the long-run, acquiring companies created or destroyed value by evaluating the differences between pre- and post-acquisition firm performance, using, abnormal share price performance, operating financial performance and intrinsic value performance metrics. This research used a non-representative, judgemental sample of 29 JSE listed firms to conclude that, on average, mergers and acquisitions destroy value within two years post-acquisition, although some evidence was found in support of acquiring firm value creation in the third year after the acquisition. Results indicated a significant -6.62% decline in acquiring firm average cumulative average abnormal return (ACAAR) between 504 trading days before and after acquisition announcement dates. This finding reversed in year three, resulting in a positive ACAAR of 8.76%. Similarly, average intrinsic value (AIV) performance indicated that between one year before and one year after the acquisition, AIV deteriorated with a significant -0.131. However, between year one and two after the acquisition, AIV recovered by 0.112. Overall evidence indicated positive and significant AIV growth of 0.370 between one year before and three years after the acquisition. The research found insignificant results for the pre and post-acquisition evaluation of industry-adjusted cash-flow return on all assets (IACRAA).
Book Synopsis The Effect of Mergers and Acquisitions on Long-run Financial Performance of Acquiring Companies by :
Download or read book The Effect of Mergers and Acquisitions on Long-run Financial Performance of Acquiring Companies written by and published by . This book was released on 2011 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Comparative Impact of Acquisitions on the Financial Performance of Acquiring Companies Across Market Segments of the JSE by : Trevor Stevens
Download or read book The Comparative Impact of Acquisitions on the Financial Performance of Acquiring Companies Across Market Segments of the JSE written by Trevor Stevens and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: There is broad agreement in the literature that in general, mergers and acquisitions in both the short and long run are largely zero or negative, net present value exercises for the shareholders of the acquiring company. At the same time it is believed that significant returns are realised by the shareholders of the target companies. Despite this broad agreement and due to the complexity of the open market, there are still a large number of variables which can and could possibly account for many of the exceptions which have been highlighted in a range of studies. The aim of this study was to investigate whether there is any evidence to suggest that merger and acquisition activity in the different market sectors of the JSE are either, more or less successful than the average. A total of 82 transactions were identified as meeting the strict requirements of the methodology. These included representatives from five sectors Basic Industries, Consumer Goods & Services, Financials, Information Technology and Resources. Event study methodology was used to investigate the abnormal returns of acquiring companies before and after the announcement of the event. It was established that in all but one of the market sectors there was statistically significant evidence that merger and acquisition transactions in different market sectors are either better or worse than the average at creating value for the acquiring company shareholders.
Book Synopsis The Financial Impact of Post-Mergers and Acquisitions: Short-Run Share Price Performance of Acquiring Firms in Hong Kong by : Chun Wing Dorothy Chiu
Download or read book The Financial Impact of Post-Mergers and Acquisitions: Short-Run Share Price Performance of Acquiring Firms in Hong Kong written by Chun Wing Dorothy Chiu and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the financial impact of post-mergers and acquisitions by delving into the short-run stock performance of acquiring firms, if and how deal characteristics affect the (cumulative) announcement abnormal return in a developed financial market- Hong Kong. I hypothesize that (cumulative) abnormal returns of buyers are positive around announcements, deals that belong to industry-irrelated, cash-financed, cross-border, and privately-owned targets would overperform, while large deal values would underperform. From a sample of 60 M&A deals from 2018 to 2022 initiated in Hong Kong, my results show a positive relationship between the share price performance of buyers and post-announcement period. Industry-related deals worsen, mergers and large-value deals benefit the stock performance of acquiring firms, while cash payment, cross-border, and private deals do not play a significant role. This paper contributes to the M&A academia by grasping the recent post-M&A performance in the Asian financial market and detecting a significant alignment between the form of deal and (cumulative) announcement abnormal return.
Book Synopsis Impact Of Corporate Merger On Financial Performance And Hrm Policies And Practices: A Study On Selected Indian Companies by : Dr Ratna Roy
Download or read book Impact Of Corporate Merger On Financial Performance And Hrm Policies And Practices: A Study On Selected Indian Companies written by Dr Ratna Roy and published by Archers & Elevators Publishing House. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Strategic Motives Underlying M&A Transactions in the U.S. Public Construction Industry by : Jongsoo Choi
Download or read book Strategic Motives Underlying M&A Transactions in the U.S. Public Construction Industry written by Jongsoo Choi and published by . This book was released on 2003 with total page 270 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Effects of Merger and Acquisition Strategy on U.K. Construction Firm's Operating Performance by : Minghua Ye
Download or read book Effects of Merger and Acquisition Strategy on U.K. Construction Firm's Operating Performance written by Minghua Ye and published by . This book was released on 2007 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Value Creation Within the Construction Industry by : Joachim Vogt
Download or read book Value Creation Within the Construction Industry written by Joachim Vogt and published by Peter Lang. This book was released on 2011 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers & Acquisitions (M&A) are important strategic business options for corporations. Yet, the understanding of industry-specific drivers of M&A transactions is more than limited. Characterized by highly fragmented markets, cross-company production structures and increasing international business scope, the construction industry represents an attractive field of research to address questions on M&A motives. Based on comprehensively selected datasets and state-of-the-art empirical methods, the study illustrates the motives, the strategy and the effects of M&A transaction within the construction industry. Overall the analyzed M&A transactions tend to lead to an increase of corporate wealth. Important factors for a positive development comprise the peculiarities of the construction industry, the general market conditions and the nature of many takeovers. Still, the M&A transactions may also cause significant value destruction and may even lead to a failure of a company if an inappropriate strategy is applied.
Book Synopsis Formulating Competitive Strategy in the UK Housebuilding Industry by :
Download or read book Formulating Competitive Strategy in the UK Housebuilding Industry written by and published by . This book was released on 2003 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis British Housebuilders by : Fred Wellings
Download or read book British Housebuilders written by Fred Wellings and published by John Wiley & Sons. This book was released on 2008-04-15 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: British Housebuilders is the first comprehensive account of the corporate history of the twentieth-century speculative housebuilding industry - the firms that `supplied` those houses and the entrepreneurs who created those firms. The transition from the local housebuilders of the 1930s, through the regional diversification of the 1960s, to the national housebuilders of today is charted via a series of industry league tables. The rationale for the growth in national firms is analysed. The conventional explanation of economies of scale is rejected: instead, the stock market is found to play a key role both in facilitating acquisitions and in demanding growth from its constituent companies. The supply-side analysis also addresses the frequent corporate failures: succession issues, lack of focus and the 1974 and 1990 recessions have played their part in equal measure. British Housebuilders provides the first opportunity to review the evidence drawn from a century of speculative housebuilding; it is only with this historical perspective that sound judgements can be made on the corporate role in housebuilding.
Book Synopsis The Impact of Mergers and Acquisitions on Corporate Financial Performance by : Dave Chen
Download or read book The Impact of Mergers and Acquisitions on Corporate Financial Performance written by Dave Chen and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Effectiveness of Mergers and Acquisitions and Corporate Financial Performance in Construction by : Frank Delaney
Download or read book Effectiveness of Mergers and Acquisitions and Corporate Financial Performance in Construction written by Frank Delaney and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization Publisher : ISBN 13 : Total Pages :462 pages Book Rating :4.F/5 ( download)
Book Synopsis Oversight Hearing on Mergers and Acquisitions by : United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization
Download or read book Oversight Hearing on Mergers and Acquisitions written by United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Economic Stabilization and published by . This book was released on 1987 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Trading Secrets written by Simon Thompson and published by Pearson UK. This book was released on 2012-09-07 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: Have you ever wondered how the top City traders make big profits from share trading? Do you know why the best investors know exactly when the market is going to rise or fall? And do you wish you could do the same? By following 20 hard and fast rules,Trading Secrets shows you how you can make the same high returns as experienced investors and traders. Using historical, economic and technical trend analysis from the last fifty years, it identifies the ways for you to capitalise on such events as the clocks going back or moving forward, religious holidays, major sporting events and even the US presidential election. Written for both experienced investors and also those with little knowledge of the stock market, Simon Thompson’s practical investing guide offers trading strategies that you can use over the short-term or the long-term. For instance, do you know how daylight changes affect how the stock market performs and, more importantly, how to make big gains by trading on this knowledge? Or do you know which sector has massively outperformed the market in the first quarter of the year – posting a quarterly return of 12 per cent – in all bar four years in the past three decades? Trading Secrets uncovers all and more importantly explains why these trends occur, so that you can be confident your investments will pay off, even when the market is falling.
