Download or read book Corporate Restructuring and Creation of Shareholder Value the Case of India written by Pavak M. and published by . This book was released on 2023-01-12 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business corporations across the world have a long and glorious past. They are veins through which the money circulates in the economy. They not only provide goods and services to people but also their contribution to the global economy, the wealth of nations, and economic variables like employment, inflation, and interest rates are remarkable. Like large business corporations of the world, Indian businesses also have a glorious past. They have withstood the changes of times from colonial rule, to independence and from a protectionist economy to liberalization and globalization. These Indian businesses have seen these transformations and have adopted changes through an exercise known as corporate restructuring. Corporate restructuring means a significant change in the resources that a corporation allocates to markets or process activities or geographical locations in which it is present. Corporate restructuring can be carried out for different purposes in many ways. The study concentrates on demergers that have been carried out as a part of corporate restructuring as a process and tries to establish a relationship between demergers and the value creation for shareholders.
Download or read book Empirical Evidence on Shareholder Value Effects of Corporate Restructuring written by Arne Hildebrandt and published by GRIN Verlag. This book was released on 2007-12 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2004 in the subject Business economics - Investment and Finance, grade: 2,0, European Business School - International University Schlo Reichartshausen Oestrich-Winkel, 45 entries in the bibliography, language: English, abstract: It is the goal of this paper to provide an overview of empirical studies that might give evidences on how shareholder value responds to different modes of restruc-turing. Due to the restriction in pages, this study will give an insight in different modes of restructurings but will not go into detail on how corporate restructuring influences the shareholder value for specific regions or industries. Rather, the aim is to present a compact picture of the restructuring results which serve as an "appetizer" for further in depth readings about this topic. To do so, this paper will approach the subject step by step: The first part of this paper deals with fundamentals of corporate restructuring. It de-fines the term "shareholder value" and explains different approaches of how an effect of corporate restructuring can be measured monetarily. Furthermore, the term "corpo-rate restructuring" and the different changes in the firm's portfolio, organization, or capital structure are described and categorized in an easily memorable model. The second part of the paper presents different important empirical studies of whether and how restructuring effects shareholder value. The model, described in the first part, is being employed to structure these findings and is being combined with the positive or negative impacts of the conducted method of restructuring. Lastly, the third part will briefly summarize the introduced effects on shareholder value and will give advice as to which forms of restructuring should be accomplished to enhance the overall economic performance of the firm and therefore the shareholder value.
Download or read book Corporate Restructuring written by Ranjan Das and published by TATA McGraw-Hill Publishing Company. This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, organizations are repositioning themselves to effectively respond to emerging competition and newer opportunities, for delivering enhanced returns to the shareholders. This book defines corporate restructuring as a comprehensive measure for changing portfolio, assets and capital structure, and organization and management structure of a firm. It dwells on how this strategic initiative would help in enhancing the shareholder wealth. Divided into three parts-concepts, cases and ethical issues, the book covers: *Portfolio and Asset Restructuring *Financial Engineering *Internal Streamlining and Re-engineering
Download or read book Creating Value Through Corporate Restructuring written by Stuart C. Gilson and published by John Wiley & Sons. This book was released on 2010-04-05 with total page 852 pages. Available in PDF, EPUB and Kindle. Book excerpt: An updated look at how corporate restructuring really works Stuart Gilson is one of the leading corporate restructuring experts in the United States, teaching thousands of students and consulting with numerous companies. Now, in the second edition of this bestselling book, Gilson returns to present new insight into corporate restructuring. Through real-world case studies that involve some of the most prominent restructurings of the last ten years, and highlighting the increased role of hedge funds in distressed investing, you'll develop a better sense of the restructuring process and how it can truly create value. In addition to "classic" buyout and structuring case studies, this second edition includes coverage of Delphi, General Motors, the Finova Group and Warren Buffett, Kmart and Sears, Adelphia Communications, Seagate Technology, Dupont-Conoco, and even the Eurotunnel debt restructuring. Covers corporate bankruptcy reorganization, debt workouts, "vulture" investing, equity spin-offs, asset divestitures, and much more Addresses the effect of employee layoffs and corporate downsizing Examines how companies allocate value and when a corporation should "pull the trigger" From hedge funds to financial fraud to subprime busts, this second edition offers a rare look at some of the most innovative and controversial restructurings ever.
Download or read book Mergers Acquisitions and Corporate Restructuring 2nd Edition written by Godbole, Prasad G. and published by Vikas Publishing House. This book was released on 2013 with total page 587 pages. Available in PDF, EPUB and Kindle. Book excerpt: • For non-finance executives to employ financial tools and techniques in their day-to-day work
Download or read book Wealth Creation in the World s Largest Mergers and Acquisitions written by B. Rajesh Kumar and published by Springer. This book was released on 2018-11-29 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book highlights research-based case studies in order to analyze the wealth created in the world’s largest mergers and acquisitions (M&A). This book encourages cross fertilization in theory building and applied research by examining the links between M&A and wealth creation. Each chapter covers a specific case and offers a focused clinical examination of the entire lifecycle of M&A for each mega deal, exploring all aspects of the process. The success of M&A are analyzed through two main research approaches: event studies and financial performance analyses. The event studies examine the abnormal returns to the shareholders in the period surrounding the merger announcement. The financial performance studies examine the reported financial results of acquirers before and after the acquisition to see whether financial performance has improved after merger. The relation between method of payment, premium paid and stock returns are examined. The chapters also discuss synergies of the deal-cost and revenue synergies. Mergers and acquisitions represent a major force in modern financial and economic environment. Whether in times of boom or bust, M&As have emerged as a compelling strategy for growth. The biggest companies of modern day have all taken form through a series of restructuring activities like multiple mergers. Acquisitions continue to remain as the quickest route companies take to operate in new markets and to add new capabilities and resources. The cases covered in this book highlights high profile M&As and focuses on the wealth creation for shareholders of acquirer and target firms as a financial assessment of the merger’s success. The book should be useful for finance professionals, corporate planners, strategists, and managers.
Download or read book The Art of Capital Restructuring written by H. Kent Baker and published by John Wiley & Sons. This book was released on 2011-07-28 with total page 612 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most up-to-date guide on making the right capital restructuring moves The Art of Capital Restructuring provides a fresh look at the current state of mergers, acquisitions, and corporate restructuring around the world. The dynamic nature of M&As requires an evolving understanding of the field, and this book considers several different forms of physical restructuring such as divestitures as well as financial restructuring, which refers to alterations in the capital structure of the firm. The Art of Capital Restructuring not only explains the financial aspects of these transactions but also examines legal, regulatory, tax, ethical, social, and behavioral considerations. In addition to this timely information, coverage also includes discussion of basic concepts, motives, strategies, and techniques as well as their application to increasingly complex, real-world situations. Emphasizes best practices that lead to M&A success Contains important and relevant research studies based on recent developments in the field Comprised of contributed chapters from both experienced professionals and academics, offering a variety of perspectives and a rich interplay of ideas Skillfully blending theory with practice, this book will put you in a better position to make the right decisions with regard to capital restructuring in today's dynamic business world.
Download or read book The India Way written by Peter Cappelli and published by Harvard Business Press. This book was released on 2010 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Exploding growth. Soaring investment. Incoming talent waves. India's top companies are scoring remarkable successes on these fronts - and more. How? Instead of adopting management practices that dominate Western businesses, they're applying fresh practices of their ownin strategy, leadership, talent, and organizational culture. In The India Way, the Wharton School India Team unveils these companies' secrets. Drawing on interviews with leaders of India's largest firms - including Mukesh Ambani of Reliance Industries, Narayana Murthy of Infosys Technologies, and Vineet Nayar of HCL Technologies - the authors identify what Indian managers do differently, including: Looking beyond stockholders' interests to public mission and national purpose Drawing on improvisation, adaptation, and resilience to overcome endless hurdles Identifying products and services of compelling value to customers Investing in talent and building a stirring culture The authors explain how these innovations work within Indian companies, identifying those likely to remain indigenous and those that can be adapted to the Western context. With its in-depth analysis and research, The India Way offers valuable insights for all managers seeking to strengthen their organization's performance.
Download or read book Creating Shareholder Value written by Alfred Rappaport and published by Simon and Schuster. This book was released on 1999-10-13 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economist, consultant, and Wall Street Journal contributor Alfred Rappaport provides managers and investors with the practical tools and tests for a corporate strategy that creates shareholder value. The ultimate test of corporate strategy, the only reliable measure, is whether it creates economic value for shareholders. After a decade of downsizings frequently blamed on shareholder value decision making, this book presents a new and indepth assessment of the rationale for shareholder value. Further, Rappaport presents provocative new insights on shareholder value applications to: (1) business planning, (2) performance evaluation, (3) executive compensation, (4) mergers and acquisitions, (5) interpreting stock market signals, and (6) organizational implementation. Readers will be particularly interested in Rappaport's answers to three management performance evaluation questions: (1) What is the most appropriate measure of performance? (2) What is the most appropriate target level of performance? and (3) How should rewards be linked to performance? Through the lens of high-stakes case studies, like the notable acquisition of Duracell International by Gillette, Rappaport dissects the intricate decisions and risks inherent in the merger and acquisition process. The shareholder value approach presented here has been widely embraced by publicly traded as well as privately held companies worldwide. Brilliant and incisive, this is the one book that should be required reading for managers and investors who want to stay on the cutting edge of success in a highly competitive global economy.
Download or read book Mergers Acquisitions and Corporate Restructuring written by Chandrashekar Krishnamurti and published by SAGE Publications Pvt. Limited. This book was released on 2019-01-17 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This revised edition of the well-known text provides a comprehensive and well-balanced overview of the entire spectrum of activities in merger transactions, acquisitions, and corporate restructuring process. It comprises of insightful modules on search for acquisitions, value drivers and target valuation, design of consideration, accounting and tax factors, cross border acquisitions, and the restructuring of equity and debt contracts. Intended for students with an interest in the financial, strategic, and business issues surrounding corporate restructuring, this book will take the readers through a rigorous understanding of valuation in a variety of corporate settings. Mergers, Acquisitions, and Corporate Restructuring: Text and Cases incorporates seven brief cases and six full-length teaching cases that instructors can use for classroom discussion and for in-depth understanding of the issues at hand. The book will help the readers answer crucial questions such as: • When does it make sense to acquire or restructure a firm’s operations? • How does the structure of the deal affect the value creation potential? • How much value will the acquisition or restructuring create? • What are some of the post-merger integration issues that managers face?
Download or read book The Synergy Trap written by Mark L. Sirower and published by Simon and Schuster. This book was released on 2010-05-11 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: With acquisition activity running into the trillions of dollars, it continues to be a favorite for corporate growth strategy, but creating shareholder value remains the most elusive outcome of these corporate strategies—after decades of research and billions of dollars paid in advisory fees, why do these major decisions continue to destroy value? Building on his groundbreaking research first cited in Business Week, Mark L. Sirower explains how companies often pay too much—and predictably never realize the promises of increased performance and competitiveness—in their quest to acquire other companies. Armed with extensive evidence, Sirower destroys the popular notion that the acquisition premium represents potential value. He provides the first formal and functional definition for synergy -- the specific increases in performance beyond those already expected for companies to achieve independently. Sirower's refreshing nuts-and-bolts analysis of the fundamentals behind acquisition performance cuts sharply through the existing folklore surrounding failed acquisitions, such as lack of "strategic fit" or corporate culture problems, and gives managers the tools to avoid predictable losses in acquisition decisions. Using several detailed examples of recent major acquisitions and through his masterful integration and extension of techniques from finance and business strategy, Sirower reveals: -The unique business gamble that acquisitions represent -The managerial challenges already embedded in current stock prices -The competitive conditions that must be met and the organizational cornerstones that must be in place for any possibility of synergy -The precise Required Performance Improvements (RPIs) implicitly embedded in acquisition premiums and the reasons why these RPIs normally dwarf realistic performance gains -The seductiveness and danger of sophisticated valuation models so often used by advisers The Synergy Trap is the first exposé of its kind to prove that the tendency of managers to succumb to the "up the ante" philosophy in acquisitions often leads to disastrous ends for their shareholders. Sirower shows that companies must meticulously plan—and account for huge uncertainties—before deciding to enter the acquisition game. To date, Sirower's work is the most comprehensive and rigorous, yet practical, analysis of the drivers of acquisition performance. This definitive book will become required reading for managers, corporate directors, consultants, investors, bankers, and academics involved in the mergers and acquisitions arena.
Download or read book Globysn Mangement Conference 2014 written by Ipsita C. Patranabis and published by Allied Publishers. This book was released on 2014-06-10 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The national-level conference of GBS attracted research articles from academicians, practitioners and student from the diverse domains of management, viz..Marketing, Finance and HR. This book is a collection of the fifteen short-listed research papers presented at the Conference.
Download or read book Mergers Acquisitions and Corporate Restructurings written by Patrick A. Gaughan and published by John Wiley & Sons. This book was released on 2017-11-27 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essential M&A primer, updated with the latest research and statistics Mergers, Acquisitions, and Corporate Restructurings provides a comprehensive look at the field's growth and development, and places M&As in realistic context amidst changing trends, legislation, and global perspectives. All-inclusive coverage merges expert discussion with extensive graphs, research, and case studies to show how M&As can be used successfully, how each form works, and how they are governed by the laws of major countries. Strategies and motives are carefully analyzed alongside legalities each step of the way, and specific techniques are dissected to provide deep insight into real-world operations. This new seventh edition has been revised to improve clarity and approachability, and features the latest research and data to provide the most accurate assessment of the current M&A landscape. Ancillary materials include PowerPoint slides, a sample syllabus, and a test bank to facilitate training and streamline comprehension. As the global economy slows, merger and acquisition activity is expected to increase. This book provides an M&A primer for business executives and financial managers seeking a deeper understanding of how corporate restructuring can work for their companies. Understand the many forms of M&As, and the laws that govern them Learn the offensive and defensive techniques used during hostile acquisitions Delve into the strategies and motives that inspire M&As Access the latest data, research, and case studies on private equity, ethics, corporate governance, and more From large megadeals to various forms of downsizing, a full range of restructuring practices are currently being used to revitalize and supercharge companies around the world. Mergers, Acquisitions, and Corporate Restructurings is an essential resource for executives needing to quickly get up to date to plan their own company's next moves.
Download or read book Corporate Governance Value Creation and Growth The Bridge between Finance and Enterprise written by OECD and published by OECD Publishing. This book was released on 2012-08-20 with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication examines the role of corporate governance arrangements in providing right incentives to contribute the value creation process within the private enterprises and the implications of the differences in ownership structures on corporate governance practices and frameworks.
Download or read book Mergers Acquisitions and Corporate Restructuring written by Chandrashekar Krishnamurti and published by SAGE Publications India. This book was released on 2008-02-06 with total page 433 pages. Available in PDF, EPUB and Kindle. Book excerpt: A book on mergers, acquisitions and corporate restructuring for students and practitioners of finance.
Download or read book Applied Ethics in Management written by Shitangsu K. Chakraborty and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ethical issues are emerging as the most important managerial challenge in all spheres of organizational life, from the wider issues of strategy-making, finance, technology, marketing, information systems to the subtle concerns of gender, demography or cultural diversity. The competitive market-economy model has widened the scope for managers in all countries to violate the fundamental values and integrity needed to maintain and enrich a civil society. These violations stretch from personal lapses of bribery and corruption to the wider areas of moral questions related to an ethically grounded global business system. This book grew out of'a three-day international workshop addressing these issues, held at the Management Centre for Human Values (MCHV), Indian Institute of Management, Calcutta, during February 1998. The workshop explored topics of applied management by providing mUltiple perspectives. Eighteen of the papers have been chosen for this volume, covering business functions, strategies and alliances. One of the key objectives of the workshop was to integrate ideas of applied ethics developing from Asia, Australia and Europe. Any book on applied ethics must be founded on a multicultural base and be practically oriented. This project has been greatly privileged in drawing together the work of 18 very senior and widely experienced academics and practitioners, spanning four continents. The two editors, from different continents, communicated regularly with each other and the contributors. The book is a result of the support and encouragement of many individuals.
Download or read book Corporate Restructuring Other forms written by Bhagaban Das and published by . This book was released on 2009 with total page 469 pages. Available in PDF, EPUB and Kindle. Book excerpt: SECTION I BASICS 1. CORPORATE RESTRUCTURING: AN OVERVIEW 2. CORPORATE RESTRUCTURING: A STRATEGIC PERSPECTIVE SECTION II MERGER AND ACQUISITION 3. MERGER AND ACQUISITION: BASICS 4. PROCEDURE1 ASPECTS AND ISSUES IN MERGER & ACQUISITION 5. DUE DILIGENCE 6. BASICS OF VALUATION 7. BUSINESS VALUATION METHODS 8. THE LEGAL AND REGULATORY FRAMEWORK 9. ACCOUNTING FOR MERGER AND ACQUISITION 10. MANAGING RISKS IN MERGER AND ACQUISITION 11. DEMERGER SECTION - III OTHER FORMS 12. TAKEOVER 13. STRATEGIC ALLIANCE 14. JOINT VENTURE 15. LEVERAGED BUY OUT (LBO) 16. EMPLOYEE STOCK OWNERSHIP PIAN (ESOP) 17. FINANCIAL RESTRUCTURING: SHARES BUYBACK 18. CASE STUDIES SECTION - IV CASE STUDIES.
