Download or read book The Determinants of Cross border Mergers and Acquisitions for the Countries of Central and Eastern Europe written by Martin Ian Clarke and published by . This book was released on 2002 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Determinants of European Cross border Mergers and Acquisitions written by Miriam Manchin and published by . This book was released on 2004 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cross Border Investing written by Julia Djarova and published by Springer Science & Business Media. This book was released on 2007-05-08 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cross-Border Investing: The Case of Central and Eastern Europe offers a view that reflects two main hypotheses: -You cannot understand foreign direct investment (FDI) trends and developments unless you understand the company's motives to invest, -You cannot understand a company's cross-border investment decision-making unless you understand what the investment area offers. This is the reason why this text builds up a relationship between the world of companies' decision-makers and that of the policy makers in the public sector. It does so by linking the business processes to the factors that together constitute the location profile of a country or a region. Based on more than 15 years of practical experience as well as research in the field of FDI, Dr Julia Djarova offers a Cross-Border Investment Model to describe the logic behind the decision-making process concerning foreign investments made by companies. The model is illustrated by a number of case studies of multinationals.
Download or read book Determinants of Cross Border M As in Developing Countries Investments in the BRICS Countries written by Maximilian D. Thomas and published by GRIN Verlag. This book was released on 2020-12-17 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2020 in the subject Business economics - Investment and Finance, grade: 1,3, University of Bremen, language: English, abstract: The aim of this thesis is to identify country-specific factors that represent determinants for merger and acquisitions. On the one hand, findings on country-specific determinants might be helpful to explain why some countries (e.g. China) receive more cross-border M&As than others (e.g. India). On the other hand, the results reveal which interests transnational companies pursue and how they change. Drawing on this evidence, policy makers and companies may be able to influence the determining factors in order to stimulate or impede inbound investments in form of M&As. During the last three decades, the importance of cross-border mergers and acquisitions (M&As) as a favourite top-level managerial strategy of multinational enterprises (MNEs) and national champions has increased significantly. The global value of cross-border M&As has grown from around USD 100 billion in 1990 to USD 815 billion in 2018, peaking in 2007 with over USD 1 trillion just before the outbreak of the global financial crisis. This development is not surprising, since the ongoing globalization and the changing global market landscape lead to more complex challenges for companies. In order to face the increasing intensity of competition that accompanies the global integration of markets, cross-border M&As constitute an appropriate way of maintaining competitiveness and creating added value. The acquisition of pre-existing foreign assets enables MNEs not only to exploit synergies and growth opportunities but also to overcome latecomer disadvantages. In addition, M&As offer a time advantage over organic growth strategies such as greenfield investments, which is particularly important considering the dynamic market conditions and the shortening product life cycles. This thesis examines the research question of which country-specific factors determine the volume of inbound cross-border M&As in developing economies. In general, the choice of a cross-border acquisition as an entry mode into a foreign market is influenced by three types of factors: (1) firm-specific factors such as prior acquisition experience, product diversity and core competences; (2) industry-specific factors such as technological, sales and marketing intensity; and (3) country-specific factors such as market size and institutional quality. While firm- and industry-specific factors also play a role in domestic M&As, country-specific factors are a peculiarity in cross-border M&As.
Download or read book Influences of Firm and Macro Level Determinants on the Probability of Cross Border Mergers and Acquisitions written by Ricardo Falter and published by GRIN Verlag. This book was released on 2015-07-23 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2015 in the subject Business economics - Investment and Finance, grade: 8,5, Erasmus University Rotterdam (Rotterdam School of Management), language: English, abstract: While the influences of macro-level determinants on cross-border transactions have been investigated in several studies before, firm-level determinants have mostly been excluded in those studies. This study finds that firm-level determinants have a substantial influence on the probability a firm’s decision to acquire a company in a foreign country. The result is even more pronounced in transactions where the acquirer’s and the target’s business operations are related to each other. In unrelated transactions, it was found that acquirers are more influenced by domestic and foreign stock market valuations as well as the relative value of their currency. This seems to proof the fire-sale theory as well as the risk reduction through diversification theory. It is concluded that unrelated transactions are more opportunistic, while related transactions are based on firm-specific business strategic reasons. A firm’s amount of excess cash has been included as a firm-level determinant into the probit model of this study. This variable is fairly new to this kind of studies and its results offer deeper insights into the relationship between transaction probability, determinants and relatedness. This study extents the existing body of academic literature on cross-border mergers and acquisitions by investigating firm- as well as macro-level determinants, while simultaneously taking the relatedness between the transaction parties into account. In order to verify the results, further research into this area is strongly encouraged.
Download or read book M A and Privatisations in Poland written by Christiane Tewes and published by Springer. This book was released on 2001-11-29 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author emphasises the overall complexity of cross-border M&A transactions into Poland, linking the proper M&A transaction with the sensitive privatisation process and the specific political, economic and cultural background of Poland.
Download or read book Determinants of Cross Border M As in Developing Countries written by Maximilian Thomas and published by . This book was released on 2020-07-21 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last three decades, the importance of cross-border mergers and acquisitions (M&As) as a favourite top-level managerial strategy of multinational enterprises (MNEs) and national champions has increased significantly. The global value of cross-border M&As has grown from around USD 100 billion in 1990 to USD 815 billion in 2018, peaking in 2007 with over USD 1 trillion just before the outbreak of the global financial crisis. This development is not surprising, since the ongoing globalization and the changing global market landscape lead to more complex challenges for companies. In order to face the increasing intensity of competition that accompanies the global integration of markets, cross-border M&As constitute an appropriate way of maintaining competitiveness and creating added value. The acquisition of pre-existing foreign assets enables MNEs not only to exploit synergies and growth opportunities but also to overcome latecomer disadvantages. In addition, M&As offer a time advantage over organic growth strategies such as greenfield investments, which is particularly important considering the dynamic market conditions and the shortening product life cycles. This thesis examines the research question of which country-specific factors determine the volume of inbound cross-border M&As in developing economies. In general, the choice of a cross-border acquisition as an entry mode into a foreign market is influenced by three types of factors: (1) firm-specific factors such as prior acquisition experience, product diversity and core competences; (2) industry-specific factors such as technological, sales and marketing intensity; and (3) country-specific factors such as market size and institutional quality. While firm- and industry-specific factors also play a role in domestic M&As, country-specific factors are a peculiarity in cross-border M&As. According to the research question, the aim of this thesis is to identify country-specific factors that represent det
Download or read book Cross border Mergers and Acquisitions written by Nam-Hoon Kang and published by . This book was released on 2000 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Determinants of Eruopean Cross border Mergers and Acquisitions written by Miriam Manchin and published by . This book was released on 2004 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Are cross border Mergers and Acquisitions more successful between culturally similar countries in the EU written by Cheyenne Wijnant and published by GRIN Verlag. This book was released on 2017-10-02 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2017 in the subject Business economics - General, grade: 7.00, Maastricht University (Finance), course: International Business, language: English, abstract: Cross-border mergers and acquisitions have increased significantly over the last two decades and have substantially changed the European industry, since it has become one of the leading approaches for firms to gain access to global markets. However, there has been little progress in the research literature investigating the role of culture in explaining the success of these cross-border transactions. This paper analyzes if cross-border M&As are more valuable for acquirers between culturally similar countries by investigating the countries’ cultural distance, legal origin, trust, Hofstede’s dimensions, and corporate governance measures. The results indicate that cultural distance has a positive and negative effect on bidder announcement returns. Legal origin has a negative effect on acquirer gains in cross-border M&A whereas trust has a positive but insignificant effect. Hofstede’s dimensions have no particular effect on the data set and corporate governance measures have a strong negative effect on bidder announcement returns. The robustness checks do not alter the results.
Download or read book Determinants of the Success of Cross border Mergers and Acquisitions with an Analysis of the European Environment written by Nicholas Coyle and published by . This book was released on 1994 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Determinants of FDI in Central and Eastern Europe written by Hanna Makhavikova and published by Springer. This book was released on 2018-08-17 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a detailed examination of foreign direct investment (FDI) inflows in Central and Eastern Europe (CEE) after closer integration in the European Union. An important facet of European economic integration was the development of a free-trade area in Central and Eastern Europe, which improved market accessibility. However, to date these relations have been little explored theoretically. The book examines foreign investments in different transition countries from both a theoretical and an empirical perspective. It analyzes changes in the choice of location by foreign investors in nineteen CEE countries between 1992 and 2015, and shows that it is linked to the removal of intra-regional trade barriers. The findings suggest that regional integration increases the incentives for multinationals to invest in the participating countries, especially in those with larger markets and lower production costs.
Download or read book Cross Border Mergers and Acquisitions in Services written by Alessandro Barattieri and published by . This book was released on 2017 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents evidence on the determinants of cross-border mergers and acquisitions in services sectors. It develops a stylized model of mergers and acquisitions that predicts that the incidence of merger and acquisition deals depends, inter alia, on the target economy's size, industrial structure and investment policies, as well as on bilateral transactions costs. These predictions are examined with bilateral merger and acquisition flow data and detailed information on policy barriers from a new database of restrictions on services investment. The analysis finds that: (1) geographical factors affect mergers and acquisitions in services and manufacturing similarly but cultural factors affect mergers and acquisitions in services more than in manufacturing. (2) Controlling for these bilateral factors, restrictive investment policies reduce the probability of merger and acquisition inflows but this negative effect is mitigated in countries with relatively large shares of manufacturing and (to a lesser extent) services in gross domestic product. The same results hold for the number of merger and acquisition deals received. These findings suggest that the impact of policy is state-dependent and related to the composition of gross domestic product in the target economy.
Download or read book Cross Border Mergers and Acquisitions in Services written by Alessandro Barattieri and published by . This book was released on 2014 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents evidence on the determinants of cross-border mergers and acquisitions in services sectors. It develops a stylized model of mergers and acquisitions that predicts that the incidence of merger and acquisition deals depends, inter alia, on the target economy's size, industrial structure and investment policies, as well as on bilateral transactions costs. These predictions are examined with bilateral merger and acquisition flow data and detailed information on policy barriers from a new database of restrictions on services investment. The analysis finds that: (1) geographical factors affect mergers and acquisitions in services and manufacturing similarly but cultural factors affect mergers and acquisitions in services more than in manufacturing. (2) Controlling for these bilateral factors, restrictive investment policies reduce the probability of merger and acquisition inflows but this negative effect is mitigated in countries with relatively large shares of manufacturing and (to a lesser extent) services in gross domestic product. The same results hold for the number of merger and acquisition deals received. These findings suggest that the impact of policy is state-dependent and related to the composition of gross domestic product in the target economy.
Download or read book Communicating a Cross border Merger Or Acquisition Between American and Eastern Or Central European Companies written by Valentina I. Korol and published by . This book was released on 1998 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Determinants of Successful Integration in Cross border Mergers and Acquisitions written by Gwenola Muller Bigot de Morogues and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Determinants of Cross border M As written by Hea-jung Hyun and published by . This book was released on 2007 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
