Impact Of Corporate Governance Score On Abnormal Returns And Financial Performance Of Mergers And Acquisitions
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| Author | : Neelam Rani |
| Publisher | : |
| Total Pages | : |
| Release | : 2015 |
| Genre | : |
| ISBN | : |
The present study attempts to investigate whether differences in the quality of firm level corporate governance standards influence performance of acquiring firms for a sample of companies by creating a corporate governance index. The study is based on a survey of sample of 155 companies having completed mergers and acquisitions deals announced during January 2003-December 2008. The paper analyzes the relationship between corporate governance practices of the acquiring firms and abnormal returns during event windows around the announcement of M&A and post-M&A financial performance of the acquirers. The results reveal a positive relationship between corporate governance standards and the performance of the acquiring firms in short-run as well as long-run.
| Author | : Neelam Rani |
| Publisher | : Springer |
| Total Pages | : 277 |
| Release | : 2016-09-15 |
| Genre | : Business & Economics |
| ISBN | : 9811022038 |
The book examines the market reaction to mergers and acquisitions (M&A) announcements over a period from 2003 to 2015. Mergers and acquisitions continue to be amongst the preferred competitive options available to the companies seeking to grow fast in the rapidly changing global business scenario. M&A as a growth strategy has received attention from developed as well as emerging economies. It has been extensively used by managers as an expansion strategy and also serves as an important instrument for increasing corporate efficiency. Recently, M&A has grown at a rapid pace, creating a need for research to analyze what drives this phenomenon and how it affects firms and markets. As such, this book evaluates the impact of M&A on short-term abnormal returns as well long-term financial performance. It also assesses the management view concerning the motives for undertaking M&A. In addition, the book investigates the corporate governance practices of the acquiring firms and their impact on the short- term as well as long- term performance of those firms.
| Author | : K. Gugler |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 373 |
| Release | : 2008-01-01 |
| Genre | : Business & Economics |
| ISBN | : 1848443927 |
This book provides an insightful view of major issues in the economics of corporate governance (CG) and mergers. It presents a systematic update on the developments in the two fields during the last decade, as well as highlighting the neglected topics in CG research, such as the role of boards, CG and public interest and the relation of CG to mergers. Two important conclusions can be drawn from this book: the first is that corporate governance systems that better align shareholders and managers interests lead to better corporate performance; second, there is an important relationship between CG structures and the quality of firm decision-making, one of the most important being the decision to merge or take over another firm. Focusing on some of the often-neglected aspects of corporate governance such as non-profit organizations and public interest, as well as mergers and acquisitions from a CG perspective, this book will be a valuable resource for both academics and postgraduate students of finance, business and economics.
| Author | : Constantin Zopounidis |
| Publisher | : World Scientific |
| Total Pages | : 340 |
| Release | : 2023-02-10 |
| Genre | : Business & Economics |
| ISBN | : 9811260516 |
This book focuses on corporate governance and proposes a novel framework for combining the Corporate Governance Framework (CGF) with current corporate finance issues arising in the Contemporary Business Environment (CBE) and cointegrating them with today's business needs. It consists of a good collection of state-of-the-art approaches that will be useful for new researchers and practitioners working in this field, helping them to quickly grasp the current state of corporate governance and corporate financial performance.Good corporate governance is not only important for companies, but also for the society. To begin with, good corporate governance strengthens the public's faith and trust in corporate governance. Legislative processes were developed to protect the society from known threats and prevent problems from occurring or recurring. Recent corporate scandals shed light on the impact that corporations have on social responsibility. The new focus on the corporate governance framework increases the responsibility and accountability of companies to their stakeholders and provides a solid framework for enhancing corporate performance.
| Author | : Thomas Kwan |
| Publisher | : |
| Total Pages | : 92 |
| Release | : 2014-09-25 |
| Genre | : |
| ISBN | : 9783656748311 |
Master's Thesis from the year 2014 in the subject Business economics - Business Management, Corporate Governance, grade: 15/20, Tongji University (ESCP Europe; Tongji University), language: English, abstract: Chinese Reverse Mergers are companies operating in China who listed on the US financial markets through a "backdoor" mechanism called reverse merger. The reverse merger process for going public consists in reverse-merging with a shell company in order to be listed on a stock market without going through the traditional IPO process. This study will focus on the impact of corporate governance structure on the financial performance of CRMs. Through different external factors of governance (existence of a corporate governance committee, limitations on CEO removal, reputation of the statutory auditor, ownership structure), we want to observe whether the existence of corporate governance mechanisms have a positive impact on financial performance measured by Stock Returns.
| Author | : Amanda J. Voegeli |
| Publisher | : |
| Total Pages | : |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
This thesis focuses on the impact of corporate governance on the M&A performance in Switzerland measured by the stock market reaction over a 21-day window around the acquisition announcement in the period from 2003 until 2012. Using the event study methodology on a sample of 148 Switzerland-based firms, it is shown that significant abnormal announcement returns exist. Key results are statistically significant abnormal acquisition announcement returns at the 1% level of the overall data sample on the day of the announcement and the following day. Additionally, abnormal acquisition announcement returns of sub-samples such as by payment type, by time period (reflecting boom, crisis, and recovery), and by corporate governance factors are reported. The OLS regression outputs obtained in the second part of the empirical analysis reveal the influence of corporate governance factors such as board size, board independence as well as CEO duality. Additionally, payment type and transaction value were used as control variables. The author finds a significant negative relationship for board size (t-value of -2.04), and positive relationships for board independence and CEO duality, even if not at a significant level. The results partially give both, individual as well as aggregated insight into how corporate governance factors impact the M&A performance in Switzerland.
| Author | : Paul M Healy |
| Publisher | : Legare Street Press |
| Total Pages | : 0 |
| Release | : 2023-07-18 |
| Genre | : |
| ISBN | : 9781021498649 |
This book examines the phenomenon of corporate mergers and the impact they have on performance. Drawing on extensive research and case studies, the authors explore the conditions under which mergers are most likely to succeed and offer guidance to managers looking to pursue a merger strategy. This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
| Author | : Frank J. Fabozzi |
| Publisher | : John Wiley & Sons |
| Total Pages | : 1023 |
| Release | : 2003-07-25 |
| Genre | : Business & Economics |
| ISBN | : 0471488933 |
Financial Management and Analysis, Second Edition covers many important financial topics that are neglected elsewhere--from raising funds via securitization to managing a financial institution. This book provides valuable insights into many major aspects of financial management and analysis, and includes expert advice, real-world examples, useful charts and graphs, and incisive end-of-chapter questions that help develop the skill set necessary to deal with the important financial problems encountered in today's business world.
| Author | : F. Fiordelisi |
| Publisher | : Springer |
| Total Pages | : 309 |
| Release | : 2015-12-17 |
| Genre | : Business & Economics |
| ISBN | : 0230299156 |
This book examines new issues in financial markets and institutions raised by the global economic crisis that began in 2007. The four main themes are: management, innovation and technology in banking; efficiency and productivity; consolidation; and corporate governance issues.
| Author | : Alon Brav |
| Publisher | : Now Publishers Inc |
| Total Pages | : 76 |
| Release | : 2010 |
| Genre | : Business & Economics |
| ISBN | : 1601983387 |
Hedge Fund Activism begins with a brief outline of the research literature and describes datasets on hedge fund activism.
