Download or read book Success of Mergers and Acquisitions in the Insurance Industry What Can We Learn From Previous Empirical Research written by Sven Bach and published by . This book was released on 2014-09-04 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2014 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 1,3, University of Cologne (Seminar fur Allg. BWL, Risikomanagement und Versicherungslehre), language: English, abstract: Since the 20th century, the insurance industry has experienced an unprecedented wave of M&A. However, in spite of the drastic increase in insurance M&A activity, there has been little consistent empirical evidence on the value enhancement of these deals. Hence, many open questions still exist in this research area. The most fundamental questions are whether insurance M&A actually create value and what determinants influence the success of these undertakings. This thesis attempts to find answers to these questions by first examining the status quo of academic literature published in this field of research and bringing together the empirical findings on the success of insurance M&A and its influencing factors. Overall, the literature review outlines that insurance M&A on average tend to create value for shareholders of the target firms as well as for the combined entity of acquirer and target. Moreover, shareholders of acquiring US insurance firms, on average, also benefit from these corporate undertakings. However, negative short-term as well as long-term wealth effects for acquiring insurers' shareholders are the common finding in capital market studies analyzing the effects of M&A transactions in the European insurance industry. Secondly, the reliability and validity of the findings of previous research are tested in an own empirical analysis which uses a fairly new approach to evaluating the success of M&A by using the idea of stochastic dominance (SD). More precisely, using a sample of 102 transactions conducted by publicly traded Western European insurance firms between the years 1993 and 2009, this work analyzes whether investors in acquiring insurance firms benefit from M&A by comparing return distrib

Download or read book Banking Consolidation in the EU written by Rym Ayadi and published by CEPS. This book was released on 2004 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Brookings Wharton Papers on Financial Services 2004 written by Robert E. Litan and published by Penn State Press. This book was released on 2004 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: The seventh in a series of annual volumes on the financial sector from the Brookings Institution and the Wharton School at the University of Pennsylvania focuses on public policy issues confronting the insurance industry. Contents iinclude: Editors' Summary Extending the Theory to Meet the Practice of Insurance David M. Cutler and Richard Zeckhauser The Crisis in Medical Malpractice Insurance Patricia M. Danzon, Andrew J. Epstein and Scott J. Johnson Tort Liability, Insurance Rates, and the Insurance Cycle Scott E. Harrington Insuring agains Terrorism: The Policy Challenge Kent Smetters Brokers and the Insurance of Non-Verifiable Losses Neil A. Doherty and Alexander Muermann Consolidation in the European Insurance Industry: Do Mergers and Acquisitions Create Value for Shareholders? J. David Cummins and Mary A. Weiss Coping with International Regulatory Complexity in the Insurance Industry Ernie Patrikis (AIG), Terri Vaughan (IID), and Brant Free (Chubb)

Download or read book Financial Privacy written by Nicola Jentzsch and published by Springer Science & Business Media. This book was released on 2007-09-19 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this updated edition, author Nicola Jentzsch provides an in-depth analysis of the economics and regulation of financial privacy. You get a comparative overview of credit reporting systems in the US and in the 27 member states of the European Union. This is the "most in-depth study of the history and economics of credit reporting to date," according to David Medine, former Associate Director of the U.S. Federal Trade Commission.

Download or read book Voluntary Health Insurance in Europe Country Experience written by Sagan A. and published by World Health Organization. This book was released on 2016-07-20 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: No two markets for voluntary health insurance (VHI) are identical. All differ in some way because they are heavily shaped by the nature and performance of publicly financed health systems and by the contexts in which they have evolved. This volume contains short structured profiles of markets for VHI in 34 countries in Europe. These are drawn from European Union member states plus Armenia Iceland Georgia Norway the Russian Federation Switzerland and Ukraine. The book is aimed at policy-makers and researchers interested in knowing more about how VHI works in practice in a wide range of contexts. Each profile written by one or more local experts identifies gaps in publicly-financed health coverage describes the role VHI plays outlines the way in which the market for VHI operates summarises public policy towards VHI including major developments over time and highlights national debates and challenges. The book is part of a study on VHI in Europe prepared jointly by the European Observatory on Health Systems and Policies and the WHO Regional Office for Europe. A companion volume provides an analytical overview of VHI markets across the 34 countries.

Download or read book Fundamentals of Production Theory written by Rolf Färe and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: This graduate text develops production theory from a set of reasonable axioms. The theory is presented both in a primal and dual as well as in an indirect (constrained) framework. The basic model leads to a set of efficiency measures which can be readily employed in empirical work. A first draft of the text was used to teach students at Vanderbilt University. The text includes a variety of exercise problems.

Download or read book The Effects of Greater Economic Integration Within the European Community on the United States written by and published by . This book was released on 1990 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book EU Competition Law and the Financial Services Sector written by Andrea Lista and published by Taylor & Francis. This book was released on 2013-06-07 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition law is a complex and constantly evolving area of law which affects every aspect of the market economy, including the financial services sector. This book is a comprehensive and practical guide to the application of the EU competition rules to banking and insurance industries. This book is divided into two parts: the first part explores the application of Articles 101, 102 and 107 TFEU to the insurance industry. Emphasis is placed on recent changes which have progressively eroded the block exemption regime that traditionally benefited the insurance industry. In the second part of the book, focus is on the application of the Articles of TFEU to the banking industry, with specific reference to card payment systems, which give rise to some of the most intricate antitrust issues in the financial services sector. Relevant Commission decisions and European Court of Justice case law are discussed and suggestions are made for an alternative regulatory framework through comparative analysis of US regulations. This book will be an invaluable reference point for legal practitioners specialising in EU Competition law, as well as postgraduate students and academic researchers working in competition law and the financial services sector.

Download or read book U S Insurance Industry in Foreign Markets written by United States. Congress. House. Committee on Government Operations. Commerce, Consumer, and Monetary Affairs Subcommittee and published by . This book was released on 1990 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Creating Value in Insurance Mergers and Acquisitions written by Andreas Schertzinger and published by Springer Science & Business Media. This book was released on 2009-06-30 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: Andreas Schertzinger identifies determinants of successful transactions, such as transaction timing and diversifying transaction strategy, through a multivariate statistical analysis. Two case studies illustrate success factors specifically related to the conduct of transactions in greater detail.

Download or read book Theory of Cost and Production Functions written by Ronald William Shephard and published by Princeton University Press. This book was released on 2015-03-08 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: A sequel to his frequently cited Cost and Production Functions (1953), this book offers a unified, comprehensive treatment of these functions which underlie the economic theory of production. The approach is axiomatic for a definition of technology, by mappings of input vectors into subsets of output vectors that represent the unconstrained technical possibilities of production. To provide a completely general means of characterizing a technology, an alternative to the production function, called the Distance Function, is introduced. The duality between cost function and production function is developed by introducing a cost correspondence, showing that these two functions are given in terms of each other by dual minimum problems. The special class of production structures called Homothetic is given more general definition and extended to technologies with multiple outputs. Originally published in 1971. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Download or read book Employee benefit Provisions written by United States. Bureau of Labor Statistics and published by . This book was released on 1949 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Accounting for M A written by Amir Amel-Zadeh and published by Routledge. This book was released on 2020-04-29 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spending on M&A has, in aggregate, grown so fast that it has even overtaken capital expenditure on increasing and maintaining physical assets. Yet McKinsey, the leading management consultancy, reports that "Anyone who has researched merger success rates knows that roughly 70% fail". The idea that businesses might be using huge and increasing sums of shareholders’ money for an activity that more often than not leads to failure calls into question the information on which M&A decisions are based. This book presents statistical studies, case material, and standard-setters’ opinions on company accounting before, during, and after M&A. It documents the manipulation of annual accounts by acquirers ahead of share for share bids, biased forecasts of post-merger earnings by bidders, and devices to flatter earnings when recording the deal. It explores the challenges for standard-setters in regulating information flows during and after M&A, and for account-users wishing to learn from financial statements how a deal has affected performance. Drawing on a wide range of international examples, this readable book is targeted not just at accounting specialists but at anyone who is comfortable reading the serious financial press, is intrigued by what is going on in the massive M&A market, and is concerned with achieving better-informed M&A. As such it might be of particular interest to business executives, lawyers, bankers, and investors involved in M&A as well as graduate students interested in researching or learning about the role of accounting in M&A.

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 819 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 The Effects of Greater Economic Integration Within the European Community on the United States written by United States International Trade Commission and published by . This book was released on 1993 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Imagination Machine written by Martin Reeves and published by Harvard Business Press. This book was released on 2021-06-08 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide for mining the imagination to find powerful new ways to succeed. We need imagination now more than ever—to find new opportunities, rethink our businesses, and discover paths to growth. Yet too many companies have lost their ability to imagine. What is this mysterious capacity? How does imagination work? And how can organizations keep it alive and harness it in a systematic way? The Imagination Machine answers these questions and more. Drawing on the experience and insights of CEOs across several industries, as well as lessons from neuroscience, computer science, psychology, and philosophy, Martin Reeves of Boston Consulting Group's Henderson Institute and Jack Fuller, an expert in neuroscience, provide a fascinating look into the mechanics of imagination and lay out a process for creating ideas and bringing them to life: The Seduction: How to open yourself up to surprises The Idea: How to generate new ideas The Collision: How to rethink your idea based on real-world feedback The Epidemic: How to spread an evolving idea to others The New Ordinary: How to turn your novel idea into an accepted reality The Encore: How to repeat the process—again and again. Imagination is one of the least understood but most crucial ingredients of success. It's what makes the difference between an incremental change and the kinds of pivots and paradigm shifts that are essential to transformation—especially during a crisis. The Imagination Machine is the guide you need to demystify and operationalize this powerful human capacity, to inject new life into your company, and to head into unknown territory with the right tools at your disposal.

Download or read book Performance of Financial Institutions written by Patrick T. Harker and published by Cambridge University Press. This book was released on 2000-05-18 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: The efficient operation of financial intermediaries--banks, insurance and pension fund firms, government agencies and so on--is instrumental for the efficient functioning of the financial system and the fueling of the economies of the twenty-first century. But what drives the performance of these institutions in today's global environment? In this volume, world-renowned scholars bring their expertise to bear on the issues. Primary among them are the definition and measurement of efficiency of a financial institution, benchmarks of efficiency, identification of the drivers of performance and measurement of their effects on efficiency, the impact of financial innovation and information technologies on performance, the effects of process design, human resource management policies, as well as others.