Advanced Search Results For "MERGERS & acquisitions"
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The Market for Corporate Control as a Limit to Short Arbitrage.
Publication Type: Academic Journal
Source(s): Journal of Financial & Quantitative Analysis. Aug2023, Vol. 58 Issue 5, p2162-2189. 28p.
Abstract: We hypothesize that corporate takeover markets create significant constraints for short sellers. Both short sellers and corporate bidders often target firms with declining economic prospects. Yet, a target firm's stock price generally increases upon a ...
M&A Activity and the Capital Structure of Target Firms.
Publication Type: Academic Journal
Source(s): Journal of Financial & Quantitative Analysis. Aug2023, Vol. 58 Issue 5, p2064-2095. 32p.
Abstract: We study 6,083 European firms that were acquired between 1999 and 2015. Soon after the acquisition, the acquired firms promptly and substantially close the gap between their actual leverage ratios and their target (optimal) ratios. Firms that were over...
Neglected Peers in Merger Valuations.
Publication Type: Academic Journal
Source(s): Review of Financial Studies. Aug2023, Vol. 36 Issue 8, p3257-3310. 54p.
Abstract: Using novel merger valuation data, we show that firms selected by investment banks as "comparable peers" are more than twice as likely to later become takeover targets themselves compared to matched control firms. Peer firms not subsequently acquired a...
When and Why Consumers React Negatively to Brand Acquisitions: A Values Authenticity Account.
Publication Type: Academic Journal
Source(s): Journal of Marketing. Jul2023, Vol. 87 Issue 4, p601-617. 17p. 1 Chart, 4 Graphs.
Abstract: Brand acquisitions are a popular growth strategy. However, both anecdotal evidence and initial empirical evidence suggest that acquisitions can harm the acquired brand. This article proposes and tests a theoretical framework that aims to explain when a...
Earnings Growth and Acquisition Returns: Do Investors Gamble in the Takeover Market?
Publication Type: Academic Journal
Source(s): Journal of Financial & Quantitative Analysis. May2023, Vol. 58 Issue 3, p1326-1358. 33p.
Abstract: We document a strong positive initial market reaction to merger announcements from bidders with either large earnings growth or significant earnings decline, relative to those with neutral earnings change, reflecting a U-shaped pattern between bidders'...
The Impact of Technological Mergers and Acquisitions on Enterprise Innovation: A Review.
Publication Type: Academic Journal
Source(s): Sustainability (2071-1050). Sep2023, Vol. 15 Issue 17, p12883. 17p.
Abstract: Innovation is the source of competitive advantage for enterprises. In the context of global industrial upgrading and increasingly fierce technological competition, enhancing innovation capabilities is key to enterprises' success. Technology mergers and...
Inter-Firm Inventor Collaboration and Path-Breaking Innovation: Evidence From Inventor Teams Post-Merger.
Publication Type: Academic Journal
Source(s): Journal of Financial & Quantitative Analysis. May2023, Vol. 58 Issue 3, p1144-1171. 28p.
Abstract: Using a large and novel data set over the period of 1976 to 2019 tracking inventors' career paths following mergers and acquisitions, we show that collaboration between acquirer and target inventors post-merger is associated with more path-breaking pat...
Enterprise Transformation and Innovation: A Study of Performance Compensation from the Perspective of Information Asymmetry.
Publication Type: Academic Journal
Source(s): Sustainability (2071-1050). Sep2023, Vol. 15 Issue 17, p12826. 23p.
Abstract: Information asymmetry is a key factor affecting M&A performance. In order to preserve value, performance promises are increasingly used in mergers and acquisitions; however, in practical applications performance often falls short of standards. This pap...
Can Mergers and Acquisitions Promote Technological Innovation in the New Energy Industry? An Empirical Analysis Based on China's Lithium Battery Industry.
Publication Type: Academic Journal
Source(s): Sustainability (2071-1050). Aug2023, Vol. 15 Issue 16, p12136. 25p.
Abstract: The advancement of technological capabilities within lithium battery enterprises crucially facilitates the high-quality development of the new energy industry. This study aims to empirically investigate the impact of mergers and acquisitions (M&A) on t...
EXPANSION OF INDUSTRIAL SCALE THROUGH MERGERS AND ACQUISITIONS - DISNEY LAND CO. CASE.
Publication Type: Academic Journal
Source(s): International Journal of Organizational Innovation. Jul2023, Vol. 16 Issue 1, p60-68. 9p.
Abstract: Business growth is through business philosophy, increase productivity, enhance the performance growth of more products and services. Then, expand the field of the enterprise, and its way is to elaborate the purpose of the enterprise, and its way is to ...