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Author : A. B. Sagna
Publisher :
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (11 download)
Download or read book Valuation Effects of Telecommunications Mergers and Acquisitions written by A. B. Sagna and published by . This book was released on 2004 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher : GRIN Verlag
ISBN 13 : 3668513066
Total Pages : 58 pages
Book Rating : 4.6/5 (685 download)
Download or read book Analysis and Evaluation of Success Factors and Synergistic Effects in M&A Transactions in the Technology, Media and Telecommunication Industry written by and published by GRIN Verlag. This book was released on 2017-08-30 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2017 in the subject Business economics - Investment and Finance, grade: 1, , language: English, abstract: Mergers and acquisitions are one of the most used opportunities to combine businesses and achieve growth inorganically, despite a high failure rate. The main motive during transactions is the realization of synergies. To achieve those synergies, the mechanisms of those effects need to be evoked by certain success factors during the post-merger integration. A post-merger integration that is executed incorrectly is one of the main reasons why transactions go fail and synergies are not achieved. This thesis will examine synergies and success factors for the post-merger integration of mergers and acquisitions in the technology, media and telecommunication industry, focusing on the acquisition of Time Warner Inc. by AT&T Inc. The technology, media and telecommunication industry is currently flourishing, which is evidenced by an increasing number of transactions. Nevertheless, wireless and mobile giants like AT&T are under huge pressure in their traditional barriers of business and therefore depend on a new strategy to diversify outside their traditional barriers of business. For this purpose, AT&T aims at generating further growth in the video and entertainment market through the acquisition of Time Warner. AT&T would not only increase their growth but they would also build up a second foothold since their traditional business is stagnating. AT&T will become the leader in converging technology, media and telecommunication.
Author : Simon Gaess
Publisher : GRIN Verlag
ISBN 13 : 3346471446
Total Pages : 62 pages
Book Rating : 4.3/5 (464 download)
Download or read book Mergers & Acquisitions and Stock Returns in the US Technology, Media & Telecommunications Sector. How the Impact Has Changed Over Time written by Simon Gaess and published by GRIN Verlag. This book was released on 2021-08-24 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2021 in the subject Business economics - Review of Business Studies, grade: 1,0, LMU Munich (Institute for Capital Markets and Corporate Finance), course: Bachelor Thesis, language: English, abstract: This bachelor thesis sets out to investigate whether the observed past and present effects of M&A deal announcements on target and acquirer cumulative abnormal returns (CARs) to shareholders, also occur on an industry-specific level in the U.S. Technology, Media & Telecommunications (TMT) industry, and over time by reviewing three distinct time frames between 2000 and the end of 2019. This thesis emphasizes “mega-deals”, which are M&A transactions with values greater than or equal to USD 500m. The recentness of the data and the emphasis on deal-value and industry-specific M&A deals make these findings unique. The event study method is applied to examine the concrete effects that an event, an M&A deal announcement, exerts on acquiring and target firm stock returns. Hereby, the difference between the actual stock returns–which occur due to the event–and the expected stock returns is analyzed and subsequently tested for significance. The main and null hypothesis of this thesis is that M&A deal announcements have no effect on the average of the stock returns of acquiring and target firms. A frequently studied area and old research question of corporate finance, ever since its initial inception in the 1960s, is the effect of mergers and acquisitions (M&As) on the wealth of shareholders of the acquiring and target companies. As recently as the early 2010s, a near-universal consensus amongst research and business press has existed, that M&As tend to generate little to no shareholder value for acquiring firms, while target shareholders incur significant returns. These findings draw on the theory of market efficiency and rational expectations to assume that such changes to the stock prices, abnormal returns (ARs), reflect the discounted value of expected future profits, i.e. cash-flows and rapidly price-in new publicly disclosed information, such as a merger announcement. Since 2012, however, a novel strand of research has emerged which has observed these previously low ARs for acquiring shareholders becoming on average significantly positive for the first time in history on a global scale following the Great Financial Crisis (GFC). This is attributable to an ensuing overall improvement to corporate governance frameworks and M&A dealmaking. Markedly, this trend was later found to start reversing back to previous pre-GFC levels.
Author :
Publisher : Information Gatekeepers Inc
ISBN 13 :
Total Pages : 10 pages
Book Rating : 4./5 ( download)
Download or read book Telecom Mergers & Acquisitions written by and published by Information Gatekeepers Inc. This book was released on with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ed Paulson
Publisher : John Wiley & Sons
ISBN 13 : 9780471360100
Total Pages : 438 pages
Book Rating : 4.3/5 (61 download)
Download or read book The Technology M&A Guidebook written by Ed Paulson and published by John Wiley & Sons. This book was released on 2000-11-06 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: The comprehensive, practical guide to buying, selling, and merging technology companies The Technology M&A Guidebook provides executives and entrepreneurs interested in acquiring or selling a technology company with everything they need to know about the entire M&A process, from identifying target companies or buyers to financial analysis, due diligence, tax issues, valuation, and legal considerations. This book explores specific issues that are unique to technology M&A: assessing the impact of technology sector high-change rates; market-driven product development; company culture issues; engineers as managers and managers as engineers; consumer and technical product differences; technology marketing issues; intellectual property considerations; Internet interaction; and more. It also provides detailed analyses of factors involved in acquiring companies from different sectors, including: * Semiconductor equipment and chip manufacturers * PC/workstation and related hardware companies * Software businesses * Data networking and telecommunications firms * Internet-related companies Don't enter the M&A process unprepared. Let The Technology M&A Guidebook help you beat the odds and make your sale or acquisition a complete success.
Author : Ulku Yaylacicegi
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)
Download or read book The performance consequences of mergers and acquisitions in the United States telecommunications industry written by Ulku Yaylacicegi and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ulku Yaylacicegi
Publisher :
ISBN 13 :
Total Pages : 368 pages
Book Rating : 4.:/5 (622 download)
Download or read book The Performance Consequences of Mergers and Acquisitions in the U.S. Telecommunications Industry written by Ulku Yaylacicegi and published by . This book was released on 2005 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Brigitte Preissl
Publisher : Springer Science & Business Media
ISBN 13 : 3790820822
Total Pages : 517 pages
Book Rating : 4.7/5 (98 download)
Download or read book Telecommunication Markets written by Brigitte Preissl and published by Springer Science & Business Media. This book was released on 2009-06-12 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: Telecommunication markets are characterized by a dynamic development of technology and market structures. The specific features of network-based markets, convergence of previously separate spheres and the complex task of market regulation put traditional theoretical approaches as well as current regulatory policies to the test. This book sheds light on some of the challenges ahead. It covers a vast range of subjects from the intricacies of market regulation to new markets for mobile and internet-related services. The diffusion of broadband technology and the emergence of new business strategies that respond to the technological and regulatory challenges are treated in the book’s 24 chapters.
Author : Leen Obeidat
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book MEASURING THE STOCK RETURNS OF TELECOMMUNICATIONS AND INTERNET COMPANIES BY STUDYING THE EFFECTS OF FREQUENT MERGERS AND ACQUISITIONS. written by Leen Obeidat and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This research paper aims to analyze a popular investment strategy in the technology and telecommunications market sectors. Over the years, it has been evident that many companies in these industries believe that the larger they grow in size, the better. This study challenges that notion by assessing the effect of frequent mergers and acquisitions on market capitalization and comparing the results of companies that merge and acquire frequently with comparison companies that do so less frequently.The hypothesis undergirding this thesis research is to see whether there is a difference between companies that frequently acquire or merge with other companies and those that do not. For the purposes of this study, the median split method was utilized to divide the largest companies within two market sectors (technology and telecommunications) into two groups and assess the change in market capitalization over a ten-year period. Then correlation and regression methods were used to further analyze the data.This analysis focuses on the largest wireless providers and the largest Internet companies by total revenue in the United States in the fiscal year 2016-2017. The analysis captures performance data from 2007 until 2017. After studying these, it is concluded that contrary to the dominant narrative that frequent mergers and acquisitions are good for business, there is no clear difference between high and low M&A investment strategy on market capitalization. Companies in both industries performed well in some instances and not very well in others. These findings raise questions about the popular notion that growing larger in these industries is a road to success, but rather that each company should customize its strategy to fit its needs.
Author : Sumit K. Majumdar
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Impact of Mergers on Performance in the US Telecommunications Industry, 1988 to 2001 written by Sumit K. Majumdar and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers and acquisitions in the Telecommunications industry have become a distinctive trend of the U.S. economy, with steady consolidation of carriers to head off or take on the competition. While the wealth effects of mergers have been extensively analyzed in prior literature, previous studies fail to correctly relate the causes of such phenomena to ex-post performance. This study elaborates on the consequences of mergers and acquisitions in the telecommunications industry using statistics of communications common carriers for the period 1988 to 2001. Using a dynamic panel data analysis estimation technique - Arellano-Bond (1991) estimation -, which outperforms the event studies methodology used predominantly in prior research, we examine the synergistic effects and success factors of mergers over time with an exhaustive set of financial, operational and technological performance measures that capture profitability, growth, efficiency, productivity, economies of scale and scope, and technology progressiveness. We control for critical periods that constitute structural shift in telecommunications merger and acquisitions activity, and account for many mergers with huge welfare implications. The results of this study will serve to project the future structure of the telecommunications industry. We find significant evidence that mergers are followed by substantial deterioration in profitability and operational performance, in addition to a significant decrease in the investment on new technology.
Author : Anastassios Gentzoglanis
Publisher : Edward Elgar Publishing
ISBN 13 : 1849805245
Total Pages : 369 pages
Book Rating : 4.8/5 (498 download)
Download or read book Regulation and the Evolution of the Global Telecommunications Industry written by Anastassios Gentzoglanis and published by Edward Elgar Publishing. This book was released on 2010-01-01 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: After decades of liberalization of the telecommunications industry around the world and technological convergence that allows for increasing competition, sector-specific regulation of telecommunications has been on the decline. As a result, the telecommunications industry stands in the middle of a debate that calls for either a total deregulation of access to broadband infrastructures or a separation of infrastructure from service delivery. This book proposes new approaches to dealing with the current and future issues of regulation of telecommunication markets on both a regional and a global scale. This volume represents a valuable compendium of ideas regarding global trends in the telecommunications industry that focus on market and regulatory issues and company strategies. With an international cast of contributors, Regulation and the Evolution of the Global Telecommunications Industry also provides insight into topics including: mobile Internet development, structural function and separation, global experiences with next generation networks, technology convergence and the role of regulation, and the regulatory impact on the balance between static and dynamic efficiencies. The empirical evidence and experiences presented here illustrate the diversity of thoughts and research that characterize this important area of academic and business research. Thus, it will be a critical reference for scholars and students of regulatory economics, policy and finance and researchers and administrators of the telecom industry.
Author : United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications and Finance
Publisher :
ISBN 13 :
Total Pages : 188 pages
Book Rating : 4.3/5 (121 download)
Download or read book Impact of Mergers and Acquisitions written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Telecommunications and Finance and published by . This book was released on 1987 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Samuel C. Thompson
Publisher :
ISBN 13 :
Total Pages : 1408 pages
Book Rating : 4.F/5 ( download)
Download or read book Business Planning for Mergers and Acquisitions written by Samuel C. Thompson and published by . This book was released on 2001 with total page 1408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is designed to help the reader gain both a practical and theoretical understanding of many of the legal problems a business lawyer will likely encounter in practice when working on merger and acquisition deals. The book is divided into four parts. Part I discusses basic legal concepts that impact mergers and acquisitions, such as corporate law rules, federal securities laws, accounting treatment, antitrust analysis, pre-merger notification, and valuation of targets through the use of modern valuation techniques. Part II focuses on several different types of negotiated transactions, including stock and asset acquisitions of closely-held corporations; mergers of publicly held corporations; the structuring of LBOs; and the drafting of acquisition agreements. Part III focuses on hostile transactions, including proxy contests, the regulation of open market purchases and tender offers under the Williams Act, defensive tactics, and freezeout mergers. Part IV focuses on special topics, including separate chapters on spinoffs, cross-border acquisitions, and bank acquisitions. Part IV also contains two chapters that are new with this second edition. The first addresses some of the unique issues facing the Federal Communications Commission in dealing with mergers and acquisitions in the exploding telecommunications industry. The second deals with various issues that can arise in structuring a joint venture or other strategic alliance, which may be used as an alternative to a merger or acquisition.
Author : Martin Sternal
Publisher :
ISBN 13 : 9783848776726
Total Pages : pages
Book Rating : 4.7/5 (767 download)
Download or read book Mergers and Acquisitions by Digital Technology Giants written by Martin Sternal and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Christina Luk
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (5 download)
Download or read book Mergers & Acquisitions written by Christina Luk and published by . This book was released on 1999 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stanley Byron Block
Publisher :
ISBN 13 :
Total Pages : 376 pages
Book Rating : 4.:/5 (744 download)
Download or read book The Effect of Mergers and Acquisitions on the Market Value of Common Stock written by Stanley Byron Block and published by . This book was released on 1968 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alexandre Robert Mounier
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (1 download)
Download or read book Mergers and Acquisitions in the U.S. Telecommunications Industry - An Empirical Analysis of Diversification Strategies, Influencing Factors and Their Performance Implications written by Alexandre Robert Mounier and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The telecommunications industry is among the most dynamic industries in terms of mergers and acquisitions activity. Yet, only few studies have been concerned with the particular challenges and dynamics telecommunications firms face when engaging in takeover activity. This thesis addresses this gap and contributes to existing re- search by investigating influencing factors and their performance implications for mergers and acquisitions in the U.S. telecommunications industry. The analysis is conducted using a five-day event study methodology based on abnormal returns in combination with ordinary least squares and weighted least squares regressions. The evidence obtained suggests that on average, related acquisitions are expected to out- perform unrelated acquisitions with an underlying U-shaped pattern, and acquirer experience and acquisition timing also exhibit a curvilinear linkage to market expectations about firm performance. The results of this thesis emphasize the importance for managers to consider the particular setting of their acquisitions along with the need to clearly communicate how an acquisition fits into an overall corporate strategy, and how it is to be evaluated with respect to the competitive positioning of the firm.
