Search results for "Mergers and acquisitions"
showing 10 items of 22 documents
Analyzing the Current Phase of the OSS/BSS Software Market
2009
In this section, the evolution of the OSS/BSS software industry is described, and the current phase of the OSS/BSS software market is analyzed using quantitative data. The first analysis uses the viewpoint of the general industry lifecycle stage models. This is followed by an analysis from the viewpoint of the vertical software market evolution model. The last section analyses the mergers and acquisitions of the OSS/BSS market from the last few years.
Chinese reverse M&As in the Netherlands: Chinese managers’ trust building practices
2019
Purpose Building trust is critical in reverse mergers and acquisitions (M&As), attributed to the divergence of governance and culture between the East and the West. This paper aims to explore the barriers and trust-building practices of Chinese managers in reverse M&As in developed countries. Design/methodology/approach The primary data set of this research contains case studies of two Chinese M&A deals and in-depth interviews with managers and advisories in the Netherlands. Findings This research finds that the divergences of decision-making structure, communication style and trust orientation generate barriers to the trust building in Chinese reverse M&As. The third-party…
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&
Negotiation strategies and offers : perceptions of mergers and acquisitions advisors
2014
This thesis sought to identify mergers and acquisitions advisors’ perceptions of their own negotiation strategies in a typical negotiation. Additionally, the thesis examined the potential association between the first offer and a negotiator’s perception of his or her own negotiation strategy. This was researched empirically by presenting the negotiators two different first offer negotiation scenarios. In the first scenario, a buyer presented a first offer that was higher than a negotiator’s reservation value. In the second scenario, a buyer presented a first offer that was lower than a negotiator’s reservation value. The theoretical framework of the thesis was based on the negotiation analy…
THE SCOPE OF DUE DILIGENCE IN CROSS-BORDER ACQUISITIONS IN CENTRAL AND EASTERN EUROPE
2015
Cross-border acquisitions play an important role in the corporate strategic development and international expansion. The paper summarizes the results of the dissertation, which intends to establish vital link between research and practice, deeply exploring the risk assessment methods and the scope of due diligence audit in the pre-acquisition phase. The central hypothesis of the comprehensive model stated that thorough due diligence in the pre-acquisition phase is necessary to make successful cross-border acquisition. The empirical evidence has been drawn on data sample of acquisitions made by automotive firms in cross-border acquisitions in the Central and Eastern Europe. The main results …
Good and useless FDI: The growth effects of greenfield investment and mergers and acquisitions
2017
We explore the effect of foreign direct investment (FDI) on economic growth, distinguishing between mergers and acquisitions (M&As) and “greenfield” investment. A simple model underlines that, unlike greenfield investment, M&As partly represent a rent accruing to previous owners, and do not necessarily contribute to expanding the host country's capital stock. Greenfield FDI should therefore have a stronger impact on growth than M&A sales. This hypothesis is supported by our empirical results that are based on a panel of up to 127 industrialized, emerging, and developing countries over 1990 to 2010.
Earnings management of target firms and deal premiums: The role of industry relatedness
2022
This paper contributes to the merger and acquisitions (M&A) literature by providing evidence for the role of industry relatedness in the association between target firms' earnings management (EM) before the deal and the premium offered by the acquirer. We argue that familiarity with the industry's policies and practices is a crucial factor that helps acquirers to see through targets' EM. Our evidence supports this prediction in relation to accounting manipulation as we observe that the income increasing accrual manipulation of the target results in significantly higher premiums offered by acquirers in interindustry deals, which is not the case when targets and acquirers belong to the same i…
Governance forms drivers in bio-pharmaceutial inter-firm relationships
2012
Networking benefits are acknowledged by many studies in the industrial organization and strategic management fields; transaction cost theory agency and property right theory provide the economic foundations to the market-hierarchy dilemma; while Resource based-view (RBV), relational and evolutionary theories provide the strategic foundation of the inter-firm relationships. All this theoretical strands investigate reasons that push firms to formalize their relationship in different governance structures. The bio-pharmaceutical industry has the characteristics to offer to the potential partners both exploitation or exploration alliances benefits. In particular some elements play a “pivot” rol…
Foreign Investment, Strategic Assets and National Security (Table of Contents)
2018
At the time of a paradigm change Foreign Investment, Strategic Assets and National Security is a timely analysis of the changing attitude towards foreign investment in major economies, namely the United States of America, the People’s Republic of China, Australia, Canada, and Germany, France and the United Kingdom as representatives of the European Union. Foreign investment has grown steadily for decades and the de-regulation of international trade and investment was a widely accepted trend, particularly in developed countries. Increasingly, however, this development is encountered by opposition. Globalisation and socio-economic effects of mergers and acquisitions of domestic firms by forei…
Narratives as a tool to study personnel wellbeing in corporate mergers
2009
This article presents the methodological solutions used in a study investigating personnel wellbeing in the context of mergers and acquisitions in the Nordic electricity business. There have happened rapid changes in working conditions in general and in the electricity business today in the Nordic countries as on a global scale. As a result, the notion of a secure job with the same employer lasting a whole lifetime career seems to have lost its meaning also in the Finnish electricity distribution sector. This has challenged the traditional idea of wellbeing. We wanted to see how a corporate integration is experienced by those whom it affects most: namely, personnel at different levels of th…