Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 63 for “"acquirers"”.
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Short and long term performance of Canadian TSE-listed acquirers
… price performance of Canadian TSE-listed acquirers. The cumulative abnormal return (CAR) and the buy-and-hold abnormal return (BHAR) methods were use for the short- and the long-term studies respectively. In the short-run study, using the dummy variable method, we test three event windows: …
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Cross-border mergers and acquisitions from emerging-market nations: evidence from Chinese acquirers
… played by the Chinese government when Chinese acquirers purchase foreign targets. In particular, I submit that state-ownership is a key factor in explaining the high acquisition premiums generally paid by Chinese firms engaging in outward cross-border merger activities. Moreover, state-owned …
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Acquirer type, agency monitoring and post-acquisition performance: an empirical investigation
… studies also show that approximately half the acquirers experience positive post-acquisition performance. There exists a serious gap in extant knowledge on what factors lead some acquirers to experience a positive post-acquisition performance while other acquirers experience a decline in their …
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Essays on European Banks' Consolidation, Integration and Systemic Risk
… supervisory power are the main determinants of acquirers’ performance changes after M&As. Secondly, we obtain that interest rate difference between distressed and non-distressed countries negatively granger-cause change of ROE and change of NII but not vice versa. Thirdly, we find some evidences …
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Do FinTech Acquisitions Improve the Operating Performance or Risk Profiles of Acquiring Firms?
… Specifically, I compare a sample of FinTech acquirers to two different reference groups: non-FinTech acquirers and the FinTech acquirer’s industry peers. The performance results are sensitive to performance metric and benchmark, but there is mixed evidence that the performance of FinTech …
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Try Before You Buy: Measuring Innovation Synergy Using Textual Analysis
An increasing number of acquirers are adopting a “two-step merger” strategy by making corporate venture capital (CVC) investments in private firms prior to engaging in mergers and acquisitions (M&A). This dissertation investigates the strategic role of CVC using a three-stage framework and applies …
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Try Before You Buy: Measuring Innovation Synergy Using Textual Analysis
An increasing number of acquirers are adopting a “two-step merger” strategy by making corporate venture capital (CVC) investments in private firms prior to engaging in mergers and acquisitions (M&A). This dissertation investigates the strategic role of CVC using a three-stage framework and applies …
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Does Firm-Level Political Risk Affect Mergers and Acquisitions?
… high. This effect is particularly evident when acquirers are taking diversified M&As or when acquirers are influential and dominant in their industry. I also find a positive relationship between the time to deal completion and the acquirer’s exposure to political risk. Additionally, given that …
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The long-run share price performance resulting from mergers & acquisitions in South Africa: a calendar-time approach
… on the Johannesburg Stock Exchange (JSE) as acquirers. The measurement of long-run performance of M&A and other corporate events such as share buy backs and seasoned offerings remains contentious primarily due to concerns on the appropriate benchmarks for abnormal share return performance as …
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Bank Efficiency Dynamics and Market Reaction around Merger Announcement
… First, merger deals that match least efficient acquirers with the least efficient targets could improve their profit efficiency four years following the merger event, unlike all other merger deals. Second, we find that mergers match least efficient acquirers with the least efficient targets …
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Consequences of the choices on the accounting methods and the payment methods for acquirers and targets : a comparative study between NYSE/Amex and NASDAQ for the nineties
In the nineties, the number of mergers has been increasing dramatically due to the emergence of the global economy and the research of the critical size and the optimal strategy. This thesis investigates the choice of accounting method (pooling versus purchasing) and the choice of the method of …
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The Effects of Mergers and Acquisitions on Bank Risks
… it investigates whether the changes in acquirers’ default risk after acquisitions have impacts on banking firms’ stockholders (idiosyncratic risk); or whether they spread to other banks (systemic risk) and all listed firms (systematic risk). Also, this thesis extends the established …
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Cross -Border Acquisitions: The Impact of Ownership Structure on Performance
… structures to have different capabilities as acquirers in respect to the post-acquisition performance of target firms. Using a sample 111 French firms that were acquired by U.S., U.K., German, and Italian firms between 1995 and 2000, I find that both the ownership structure and the …
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Why Do Banks Participate in a FDIC Failed Bank Auction? A study on both winning and non-winning bidders’ performance
… Propensity Score Matching to compare failed bank acquirers to their close peers. Results show that acquirers in regulatory mergers experience significant improvements in both profitability and cost efficiency immediately after the merger transaction. In addition, we are interested in learning …
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Essays on Bank Acquisitions and Systemic Risk
… reaction to acquisition-induced increase in acquirers' systemic risk turns into a significantly unfavorable one during crisis periods as investors perceive a higher probability for tail events. I then, classify acquisitions into activity diversifying and focusing to explore whether …
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Does Investors’ Belief on Other Investors’ Information Acquisition Affect Trading and Price?
… they believe there have been more information acquirers. In contrast, in a world where investors cannot form high-quality independent estimates of the asset value, they tend to adopt a heuristic strategy and trade less aggressively on their private signals when they believe there have been more …
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The impact of targets' social performance on acquisition premiums
… influences the acquisition premiums paid by the acquirers. Using U.S. public merger and acquisition (M&A) deals, I found that acquisition premiums increase in the targets' perceived CSR quality, an effect incremental to previously documented drivers of such premiums. These findings are robust to …
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