Location Strategies and Value Creation of International Mergers and Acquisitions
Book 1
Book 2
Book 3
Book 1
Book 2
Book 3
Book 1
Book 2
Book 3
Book 1
Book 2
Book 3
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Location Strategies and Value Creation of International Mergers and Acquisitions

Location Strategies and Value Creation of International Mergers and Acquisitions


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About the Book

This title enriches both areas of research, finance and international management to analyze the choice of location and value creation in mergers and acquisitions. Our research answers the following question: What are the determinants of the location and value creation in mergers and acquisitions?

Table of Contents:
Acknowledgements ix General Introduction  xi Part 1. Location and Performance of Mergers and Acquisitions 1 Introduction to Part 1  3 Chapter 1. Characteristics and Location of Mergers and Acquisitions 5 1.1. Modes of conduct of mergers and acquisitions 6 1.1.1. The characteristics of mergers and acquisitions  6 1.1.2. Mergers and acquisitions as modes of entry on foreign markets 18 1.2. International development by means of mergers and acquisitions  32 1.2.1. Geographic distance and economic growth 33 1.2.2. Quality of institutions and cultural differences  38 1.3. Conclusion 47 Chapter 2. Analysis of the Performance of Mergers and Acquisitions 49 2.1. Theoretical perspectives 50 2.1.1. The perspective of industrial economy  50 2.1.2. The perspectives of informational efficiency and organizational finance 57 2.2. Performance of mergers and acquisitions 68 2.2.1. Measuring the performance of mergers and acquisitions 68 2.2.2. Value creation factors  77 2.3. Conclusion 99 Conclusion to Part 1  103 Part 2. Methodology of the Empirical Study 105 Introduction to Part 2  107 Chapter 3. Research Methodology 109 3.1. Methodological choices 109 3.1.1. Epistemological stance  110 3.1.2. Event studies 113 3.2. Statistical analysis 140 3.2.1. Simple and multiple linear regressions  140 3.2.2. Logistic regressions 145 3.2. Conclusion 151 Chapter 4. Presentation of the Empirical Study  153 4.1. The constitution of the sample  154 4.1.1. The selection of the sample contents 154 4.1.2. Data collection  158 4.2. Descriptive analysis of the sample 171 4.2.1. The main sample 171 4.2.2. A focus on “clustered” announcements  193 4.3. Conclusion 195 Conclusion to Part 2  197 Part 3. Location and Value Creation of Mergers and Acquisitions by French Acquirers  199 Introduction to Part 3  201 Chapter 5. Determinants of Location of Mergers and Acquisitions 203 5.1. Geographic distance and economic growth  207 5.1.1. The impact of geographic distance 208 5.1.2. The role of economic growth  212 5.2. The quality of institutions and cultural differences 216 5.2.1. The influence of the quality of institutions  216 5.2.4. The impact of cultural differences 220 5.2.5. The global research model 224 5.3. Conclusion 227 Chapter 6. Determinants of Value Creation of Mergers and Acquisitions  231 6.1. Value creation and acquirer focus 232 6.1.1. The analysis of the reaction of financial markets  232 6.1.2. Characteristics of the acquirer 244 6.2. Target focus and operation  257 6.2.1. Characteristics of the target 258 6.2.2. Characteristics of the operation 277 6.3. Conclusion 292 Conclusion to Part 3  297 General Conclusion 299 Appendices  315 Appendix 1. 317 Appendix 2. 319 Appendix 3. 321 Appendix 4. 323 Appendix 5. 325 Appendix 6. 327 Appendix 7. 329 Appendix 8. 331 Bibliography  333 Index 363

About the Author :
Ludivine Chalençon is Associate Professor at IAE Lyon, Université Jean Moulin Lyon in France where she teaches corporate finance.


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Product Details
  • ISBN-13: 9781786300492
  • Publisher: ISTE Ltd and John Wiley & Sons Inc
  • Publisher Imprint: ISTE Ltd and John Wiley & Sons Inc
  • Height: 241 mm
  • No of Pages: 388
  • Returnable: N
  • Weight: 975 gr
  • ISBN-10: 1786300494
  • Publisher Date: 03 Mar 2017
  • Binding: Hardback
  • Language: English
  • Returnable: N
  • Spine Width: 31 mm
  • Width: 163 mm


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