Search results for "M&A"
showing 10 items of 12 documents
Latvijas vidēja izmēra uzņēmumu pārdošanas process ārvalstu investoriem
2016
Bakalaura darba tēma: Latvijas vidēja izmēra uzņēmumu pārdošanas process ārvalstu investoriem. Problēma: Pastāv noteiktas grūtības pārdot Latvijas Republikas vidēja izmēra uzņēmumu starptautiskam pircējam, starptautisko investoru neuzticības dēļ Latvijas Republikas uzņēmējiem. Bakalaura darba mērķis: Izstrādāt priekšlikumus Latvijas Republikas esoša vidēja izmēra uzņēmuma apvienošanas/pārņemšanas procesa uzlabošanai. Tika paveikta galveno apvienošanas/pārņemšanas (M&A) procesa evolūcijas posmu un to attīstības vēstures analīze. Tipveida apvienošanas/pārņemšanas (M&A) procesa analīze kalpo kā pamats tālākai Latvijas Republikas un citu Eiropas Savienības valstu esošo apvienošanas/pārņemšanas …
Greenfield or M&A? An institutional and learning perspective on the establishment mode choice of Chinese outward investments
2020
Abstract We develop and test a model of Chinese greenfield investments using institutional and learning theories. Both the host country institutional context and the firm's international characteristics affect the establishment mode. Using 152 Chinese emerging market multinationals (EMNEs) with 401 subsidiaries distributed in 26 countries from 2003 to 2013, we build a database of 284 pairs of host country/Chinese firms to test two hypotheses. We find that, first, governance environment affects the establishment mode: greenfield investments are preferred over acquisitions in relation-based host markets, and M&As are preferred in rule-based countries. Second, the depth of Chinese EMNEs' inter…
Corporate spin-offs value creation : parent & spin-off view
2015
Corporate spin-offs have gained popularity over the past few years. Despite of this in Finnish media and university teaching this phenomenon has gained little attention. This study aims to fulfill this knowledge gap. Spin-off is a restructuring procedure where company splits into two separate legal entities via pro-rata transaction basis. I researched this phenomenon by event-study methodology which has been quite popular also in earlier studies. I have com-pared parent and spin-off stock performance in order to reveal potential value gains for investors. Parent company is analyzed also from the announcement period where we find strong positive abnormal returns associated with announcement …
Foreign Taleovers and Wages: Theory and Evidence from Hungary
2005
This study discriminates FDI technology spillover from learning effects. Whenever learning takes time, our model predicts that foreign investors deduct the economic value of learning from wages of inexperienced workers and add it to experienced ones to prevent them from moving to local competitors. Hence, the national wage bill is unaffected by foreign takeovers. In contrast to learning, technology spillover effects occur whenever a worker with MNE experience contributes more to local firms’ than to MNEs’ productivity. In this case, experienced MNE workers are hired by local firms and the host country obtains a welfare gain. We investigate empirically wages, productivity, and worker turnove…
The Impact of Mergers and Acquisitions and Sustainability on Company Performance in the Pharmaceutical Sector
2021
The primary goal of this study was to determine the impact of mergers and acquisitions (M&
Assessing Metacomprehension and Metacognitive Reading Strategies
2019
The aim of the study was to establish the similarities and differences among existing instruments for measuring metacognition, in particular the awareness of reading comprehension and further to construct an original instrument for measuring features of metacognition, henceforth referred to as the Metacomprehension and Metacognitive Reading Strategies (M&MRS) Inventory. The M&MRS Inventory was distributed to 115 students at University of Palermo. The results revealed a good reliability
EDGE: explorer of diffuse emission and gamma-ray burst explosions
2009
How structures on various scales formed and evolved from the early Universe up to present time is a fundamental question of astrophysical cosmology. EDGE will trace the cosmic history of the baryons from the early generations of massive star by Gamma-Ray Burst (GRB) explosions, through the period of cluster formation, down to very low redshifts, when between a third and one half of the baryons are expected to reside in cosmic filaments undergoing gravitational collapse by dark matter (Warm Hot Intragalactic Medium: WHIM). In addition EDGE, with its unprecedented observational capabilities, will provide key results on several other topics. The science is feasible with a medium class mission …
Corporate entrepreneurship and governance: Mergers and acquisitions in Europe
2022
Mergers and acquisitions (M&A) are a form of corporate entrepreneurship involving strategic decisions that require discussion and approval by the board of directors of the acquiring firm. We focus on board attributes to analyze the entrepreneurial function of the board of directors and its involvement in corporate entrepreneurship. Building on different theories (agency theory, resource dependence theory, stewardship theory, and stakeholder theory), we examine whether board composition affects the number of acquisitions, the risk involved in bids, and the creation of value for the acquirer's shareholders. For a sample of European firms over the period 2002 to 2020, we find that board size a…
Influencing factors on growth modes change : systematic literature review and future research agenda
2021
Objectives. Inevitable condition of entrepreneurship, firm growth (Gundry & Welsch, 2001), can be understood better if more attention is paid to how companies grow instead of how much they grow (McKelvie & Wiklund, 2010). Research about small firm growth is fragmented. One reason is that the phenomenon has been treated over-simplistically by lacking separation among growth modes (Davidsson & Wiklund, 2000; Gilbert et al., 2006a; Wiklund et al., 2009) and subsequently missing understanding why firms growth and how (Benning & Flatten, 2020; Geuvers, 2016). This led to a predisposition of SMEs growing mainly organically, when in fact empirical studies have shown contradictions (Alemayehu & Van…
Cross-Border M&A performance by Chinese firms : industry effect analysis
2017
Chinese firms participate in cross-border mergers and acquisitions (CBMA) in a constantly increasing rate. As China, the leading developing economy of the world keeps developing, the dynamics of value creation through CBMA change. This study examines the short-term performance of 41 CBMA deals by Chinese firms from 2012 to 2015. Results from the event study analysis show that, on average, Chinese companies should participate in CBMA. The first result of this study indicates that Chinese acquirer companies gain significant cumula-tive average abnormal returns (CAARs) from CBMA. The second result of this study is that Chinese acquirer companies gain bigger CAARs from CBMA when the acquiring f…