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Articles 1 - 4 of 4
Full-Text Articles in Business
Mergers And Acquisitions In Small And Medium Sized Enterprises In The Health Care Industry: The Effect Of Regulations On Merger And Acquisition Success, Jessica Bucci
Honors Theses
This study aims to address the lack of information present on small and medium sized enterprises in the merger and acquisition process. An analysis of M&As in the health care industry was conducted The regulations in the health care industry are also investigated in order to demonstrate their effect on SMEs wishing to participate in M&As. A qualitative analysis was conducted to analyze interviews of physicians who have participating in M&As. The results demonstrate the similarities and differences in large and SME M&As.
Social Networks And Risk Taking: Evidence From Corporate Control Activities, Yen Teik Lee
Social Networks And Risk Taking: Evidence From Corporate Control Activities, Yen Teik Lee
Research Collection Lee Kong Chian School Of Business
This paper investigates the impact of social ties between the Chief Executive Officer (CEO) andboard members on corporate risk-taking in mergers and acquisitions (M&As) and on shareholdervalue. Using a measure of CEO-director connections in a large sample of U.S. firms from 2000 to2010, we document that boardroom connections lower firm acquisitiveness. If connected CEOsundertake M&As, they are less likely to choose focus acquisitions, and more likely to pay in stock.CEO-board connections do not enhance firm value in M&As. Higher levels of boardroomconnection are associated with lower announcement returns and lower subsequent return on assets.Our results are robust to alternative explanations …
Board Connections And M&A Transactions, Ye Cai, Merih Sevilir
Board Connections And M&A Transactions, Ye Cai, Merih Sevilir
Finance
We examine M&A transactions between firms with current board connections and find that acquirers obtain higher announcement returns in transactions with a first-degree connection where the acquirer and the target share a common director. Acquirer returns are also higher in transactions with a second-degree connection where one acquirer director and one target director serve on the same third board. Our results suggest that first-degree connections benefit acquirers with lower takeover premiums while second-degree connections benefit acquirers with greater value creation. Overall, we provide new evidence that board connectedness plays important roles in corporate investments and leads to greater value creation.
M&A Today: Great Challenges, But Great Opportunities, Stephen R. Goldberg, Carol M. Sanchez
M&A Today: Great Challenges, But Great Opportunities, Stephen R. Goldberg, Carol M. Sanchez
Peer Reviewed Articles
The volatility in today’s financial markets creates challenges but also great opportunities for mergers and acquisitions (M&A). In uncertain times, there is a need to play it safe, but for some it is also the ideal time to seize opportunities to make great deals. As companies find distinctive ways to strategically navigate in these turbulent times, many continue to use a two-fold strategy: cut costs and stimulate growth through diversification, which includes M&A. Global M&A activity increased in 2010 and continues to increase in 2011. In this article, we report on Global M&A activity in the first half of 2011, …