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2016

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Articles 301 - 330 of 330

Full-Text Articles in Finance and Financial Management

Strategies For Accessing Credit By Small And Medium Enterprises, Henry Jefferson Ogoi Jan 2016

Strategies For Accessing Credit By Small And Medium Enterprises, Henry Jefferson Ogoi

Walden Dissertations and Doctoral Studies

Small and medium enterprise (SME) business owners play a significant role in the Kenyan economy as they account for approximately 78% of total employment and 57% of the new jobs created. The purpose of this qualitative multiple case study was to explore what strategies some Kenyan SME business owners used within the past 5 years to access credit to improve company profitability and growth. The target population consisted of 4 SME owners of businesses located in Kakamega Town, Kenya, who have had access to credit within the past 5 years. The conceptual framework for this study was the social capital …

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The Effect Of Regulations On The Bottom-Line Of Traditional And Shadow Banks, Tsatsu Emmanuel Nyamadi Jan 2016

The Effect Of Regulations On The Bottom-Line Of Traditional And Shadow Banks, Tsatsu Emmanuel Nyamadi

Walden Dissertations and Doctoral Studies

Return on equity is often associated with prudent risk-taking and the attraction of new clients in advanced economies like the United States, where shadow banks are not regulated. Researchers have contended that freedom from regulation encourages risk-taking and earning of higher profits, but there is a lack of empirical evidence addressing this relationship. The purpose of this quantitative study was to investigate whether lack of regulations result in increased return on equity. The theoretical framework was regulatory arbitrage by Ricks M, Gennaioli N, Shleifer A, and Vishny R. The research question addressed the relationship between regulation, profit margin, leverage, asset …

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Empirical Forecasting Of Returns During The Great Recession Through Economic Value Added, Godwin Ohene Sekyere Jan 2016

Empirical Forecasting Of Returns During The Great Recession Through Economic Value Added, Godwin Ohene Sekyere

Walden Dissertations and Doctoral Studies

US economic recession from 2007- 2009, also known as the Great Recession, negatively impacted the financial sector as well as other aspects of society. Researchers have found value-based measures and accounting measures as effective performance measures, but they have found inconclusive results when comparing the strengths of economic value added (EVA) and accounting measures in predicting stock performance. This study used data from the Great Recession to further compare EVA and accounting measures. The purpose of this cross-sectional or correlational study was to determine the relative predictive strength of EVA during the Great Recession to determine whether a model with …

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Corporate Governance Issues In The Nigerian Banking Industry, Oyebola Bejide Akande Jan 2016

Corporate Governance Issues In The Nigerian Banking Industry, Oyebola Bejide Akande

Walden Dissertations and Doctoral Studies

Corporate governance issues resulting from bad governance, fraudulent activities, insider abuse, and corruption have attracted the attention of shareholders and regulators in the banking industry. The financial crisis that erupted from the United States affected the financial institutions of both developed and developing countries, among which Nigerian banks belong. The Central Bank of Nigeria removed 8 managing directors and executive directors due to bad governance, nonperforming loans of 61%, and toxic assets of $13.3 billion; the Central Bank injected 620 billion naira into the banks. The purpose of this multiple case study was to develop an understanding of corporate governance …

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Sustaining Dental Practices Longer Than 5 Years, David Gagner Jan 2016

Sustaining Dental Practices Longer Than 5 Years, David Gagner

Walden Dissertations and Doctoral Studies

Dentists graduate dental school ready to practice dentistry, but 85% do not feel prepared by the dental school to open and manage the operations of a general dental practice. General systems theory grounded this multisite case study. The research provides information on 3 solo practitioner dental practices that sustained beyond 5 years in the Washington, DC suburbs. At each operating practice, the dentist who owned the practice and 1 employee that also worked at the practice during the first 5 years were interviewed. The dentist provided marketing documents used during the first 5 years of the practice operations. Data triangulation …

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Valuing Commercial Finance Companies, David Earle Coit Jan 2016

Valuing Commercial Finance Companies, David Earle Coit

Walden Dissertations and Doctoral Studies

Stakeholders are increasingly insistent that companies increase firm value. The problem is that stakeholders of financial services firms are unable to accurately determine firm value. The purpose of this correlational study was to examine the accuracy of 4 valuation models in predicting the market value of equity of commercial finance companies. Study participating companies were 8 listed U.S. or Canadian commercial finance companies. The theoretical constructs of the study included the accuracy of valuation models, modern portfolio theory, and the correlation of book value of equity to market value of equity. Financial information on participating companies obtained from public filings …

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Corporate Social Responsibility And Financial Performance Of Banks In The United States, Waidi Alani Gbadamosi Jan 2016

Corporate Social Responsibility And Financial Performance Of Banks In The United States, Waidi Alani Gbadamosi

Walden Dissertations and Doctoral Studies

Corporate social responsibility has evolved as a business strategy, but the business worth of voluntary social conduct has not been well understood. The contradictory research findings mean that social performance is not maximized, which constrains economic growth and sustainable development. Grounded by stakeholder theory, this correlational study was aimed at examining the effect of social responsibility factors on the market-based Fama-French cost of capital. Within a sample of 71 United States banks, the publicly available ethical ratings, financial data, and stock market data were analyzed using multiple regression models. Contrary to the positive effect of social conduct on financial performance …

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Budgets As A Primary Control In New Hampshire Governmental Units, Dennis C. Shea Jan 2016

Budgets As A Primary Control In New Hampshire Governmental Units, Dennis C. Shea

Walden Dissertations and Doctoral Studies

The annual budget process is a primary financial control mechanism over community resources. However, in New Hampshire, some business school leaders do not have effective strategies for proper budget creation and execution. Using agency theory to frame this study, the purpose of this explanatory case study was to explore strategies for proper budget creation and execution in local school administrative units (SAUs) in New Hampshire. The targeted population was comprised of New Hampshire SAU business administrators who had operational responsibility for the administration of the yearly public budgets in each school district. Data were collected from SAU document review and …

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Multinational Corporations' Return On Investment Optimization In Nigeria's Business Environment, Funlola Francesca Fajinmi Jan 2016

Multinational Corporations' Return On Investment Optimization In Nigeria's Business Environment, Funlola Francesca Fajinmi

Walden Dissertations and Doctoral Studies

Trade between the United States and Africa decreased 32% from US$125 billion, in 2011, to US$85 billion, in 2013; however, MNCs from other regions have continued to increase investments in Africa. Multinational corporations (MNCs) generate most of their return on investment (ROI) from the Western world. Globalization, increasing middle classes in emerging markets, and decreasing population in the Western world have lead to unsustainable ROI. Nigeria, the most populous and largest economy in Africa and the 27th largest economy in the world, offers new opportunities with an annual growth rate forecast of 6% to 8%. Utilizing the diamond theory of …

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Assessing The Level And Impact Of Financial Literacy On African Americans, Robert A. Amoah Jan 2016

Assessing The Level And Impact Of Financial Literacy On African Americans, Robert A. Amoah

Walden Dissertations and Doctoral Studies

Individuals are faced with making important economic decisions regarding retirement, savings, investing, and insurance. Across the globe, developed and emerging economies are experiencing growth in the sophistication of financial markets and products. Individuals require a greater degree of financial literacy to understand and explore these sophisticated and emerging financial markets and products. A review of literature revealed African Americans, however, lack the decision-making tools to function in the financial world. The purpose of this study was to assess the extent to which African Americans have financial knowledge. The sample size was 382 African Americans residing in Columbus, Ohio. The study …

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Establishing Mobile Financial Services In Ethiopia, James R. Kanagwa Jan 2016

Establishing Mobile Financial Services In Ethiopia, James R. Kanagwa

Walden Dissertations and Doctoral Studies

Mobile phone service is increasing among low income populations; however, with over 1 billion mobile service users worldwide, many people still lack banking services. Banks do not reach out to the poor because of the high operational costs involved. Scholars and industry practitioners have indicated that mobile phones could be an alternative channel for delivering financial services to the less advantaged and unbanked, without requiring a traditional bank with a branch network. The purpose of this bounded case study was to explore the strategies bank managers used to implement the new mobile banking service to the Ethiopian community. The new …

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Implementation Of International Financial Reporting Standards By Listed Companies In Nigeria, Emmanuel Inalegwu Ogbenjuwa Jan 2016

Implementation Of International Financial Reporting Standards By Listed Companies In Nigeria, Emmanuel Inalegwu Ogbenjuwa

Walden Dissertations and Doctoral Studies

This study is on implementation of International Financial Reporting Standards (IFRS) by reporting entities in Nigeria. Since Nigeria adopted IFRS in 2010, managers of reporting entities have been confronted with organizational changes both in the structures and processes of financial reporting. Previous studies have not assessed the claims that adopting IFRS improves the quality of financial reports and managerial efficiency. This study evaluated the assertion that IFRS adoption impacts the quality of financial reports, operational costs, and operational efficiencies of management. The theoretical frameworks which undergirded the study were theories of organizational behaviors and attitudinal change. Data were collected via …

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The Economic Impact Of Deficient Anti-Money Laundering Program To A Multinational Bank, Emmanuel Hayble-Gomes Jan 2016

The Economic Impact Of Deficient Anti-Money Laundering Program To A Multinational Bank, Emmanuel Hayble-Gomes

Walden Dissertations and Doctoral Studies

Money laundering is a financial crime that threatens the stability of a country's financial sector. The purpose of this qualitative case study was to explore the strategies that compliance officers used to improve the AML program in a multinational bank in the northeastern United States. The target population was purposefully selected using bank compliance officers because they have experience with the strategies to improve the AML program. The normative neo-institutional theory framed the discussion of this study. Data were collected from interviews with 10 AML compliance officers and the achieved data. The Krippendorff method of content analysis was used to …

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An Analysis Of Investments By Multilateral Development Banks In Central America, Jose Lopez Rojas Jan 2016

An Analysis Of Investments By Multilateral Development Banks In Central America, Jose Lopez Rojas

Walden Dissertations and Doctoral Studies

Multilateral development banks (MDBs) are under increased pressure to justify their allocation of donor resources. These funds help produce growth in developing regions such as Central America (CA), where wealth inequality limits individuals' access to basic services and increases the prevalence of crime and corruption. MDB leaders are not always confident the allocation of limited resources creates optimal value. The capital asset price model (CAPM) was the theoretical framework of this correlational study. Archival data consisting of annual reports and audited financial statements were used to draw a sample (N = 66) of USD $4.857-asset valued loans made by MDBs …

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Excess Corporate Cash And Mutual Fund Performance, Shay E. Richardson Jan 2016

Excess Corporate Cash And Mutual Fund Performance, Shay E. Richardson

Walden Dissertations and Doctoral Studies

Corporations may experience lower earnings on assets due to the underinvestment of excess cash. Specifically, leaders of nonfinancial firms hold small amounts of cash in mutual fund investments. The primary benefit to understanding mutual funds is the potential to use them to manage excess corporate cash. Using the efficient market hypothesis as a framework for the study, the purpose of this correlational study was to examine the relationship among mutual fund expenses including 12b-1 fees, sales load at purchase, management fees, total capitalization, and performance. Secondary research databases were used, including the Steele Mutual Fund Expert and the U.S. Securities …

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Strategies Agency Managers Use To Retain Recruiting Staff, Andrew Edward Borg Jan 2016

Strategies Agency Managers Use To Retain Recruiting Staff, Andrew Edward Borg

Walden Dissertations and Doctoral Studies

The high rate of employee turnover in the staffing industry is costly and impedes sustainability of employment agencies. The focus of this qualitative single case study explored strategies that 10 human resource managers (HRMs) and 5 HR directors used to retain recruiting staff at one regional recruiting agency in the southeastern region of the United States. The target population and research site were selected because of prior success in employee retention strategies. The conceptual framework grounding this study was sustainability theory. Methodological triangulation was achieved with semistructured interviews and focus group data. Data were thematically analyzed using Atlas.ti7, and all …

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The Role Of Strategic Leadership In Banking Profitability, Joseph Ochien'g Witts Jan 2016

The Role Of Strategic Leadership In Banking Profitability, Joseph Ochien'g Witts

Walden Dissertations and Doctoral Studies

A study on corporate leadership failure in America by Vugt and Ronay has shown that the failure rate of business leadership in meeting profitability targets is as high as 60%. Most organizations fail to attain profitability targets due to limited experience and exposure to strategic leadership. The aim of this single case study design was to explore the role of strategic leadership in banking profitability. Twelve purposively selected senior bankers and members of the board of directors with over 10 years of experience in banking and profitability and 3 years in the top management team participated in the study in …

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Relationship Between Firm Performance And Ceo's Stock Options In U.S. Pharmaceutical Companies, George Mwangi Jan 2016

Relationship Between Firm Performance And Ceo's Stock Options In U.S. Pharmaceutical Companies, George Mwangi

Walden Dissertations and Doctoral Studies

The CEO's compensation policy is one of the most important factors in an organization's success. CEO's stock options are awarded to align the interests of the CEO with the interests of the firms' stakeholders. However, lack of understanding of the relationship between firm performance and a CEO's stock options could threaten the alignment of a CEO's interests with those of the stakeholders. Grounded in agency theory, the purpose of this correlation study was to examine the relationship between return on equity, return on investment, total annual revenues, and CEOs' stock options awards, while controlling for firm size, age of CEO, …

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The Role Of Corporate Governance In Preventing Bank Failures In Zimbabwe., Bernard Chidziva Jan 2016

The Role Of Corporate Governance In Preventing Bank Failures In Zimbabwe., Bernard Chidziva

Walden Dissertations and Doctoral Studies

The 2008-2009 global financial crisis resulting in some banks collapsing has raised questions about the corporate governance of financial institutions. Some bank managers lack an understanding of the role of corporate governance in preventing bank failures. In this multiple case study, data were collected through interviews and triangulated with annual reports to explore the strategies some bank managers need to improve their understanding of the role of corporate governance in preventing bank failures in Zimbabwe. The 7 study participants were purposefully recruited from a larger population of 19 bank managers responsible for corporate governance and compliance operating in Zimbabwe between …

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A Resource-Based Perspective On Financial Resource Strategies For Small Business Sustainability, Margaret N. Godwin-Opara Jan 2016

A Resource-Based Perspective On Financial Resource Strategies For Small Business Sustainability, Margaret N. Godwin-Opara

Walden Dissertations and Doctoral Studies

Each year entrepreneurs start many new businesses, and some of these businesses will fail within the first 2 years. In addition, many owners will cite lack of adequate financial resources as a contributory factor to the failure. The purpose of this multiple case study was to identify the strategies that some small business owners used to obtain financial resources needed to operate a financially sustainable business. The population consisted of machine shops in South Central Kansas. A resource-based view theory served as the conceptual framework that grounded the study. The data collection process consisted of 9 interview questions. The data …

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Nigerian Banking Governance, Leadership Style, And Performance During The 2008-2009 Financial Crisis, Adeola Oluwayemi Agbato Jan 2016

Nigerian Banking Governance, Leadership Style, And Performance During The 2008-2009 Financial Crisis, Adeola Oluwayemi Agbato

Walden Dissertations and Doctoral Studies

The 2008-2009 global financial crisis of financial systems negatively affected about 30% of Nigerian banks, leading to profitability issues. The profitability issues led to operational challenges, downsizing, and liquidation of some banks. The purpose of this correlational study was to examine the relationship between corporate governance structure, perception of leadership style, and bank performance. This study was grounded in agency theory and used survey and archival data. Survey data were collected from 11 participants employed by commercial banks located in Nigeria, using the Multifaceted Leadership Questionnaire. Corporate governance and bank performance data were collected from annual bank reports. The model …

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Relationship Between Emotional Intelligence And Servant Leadership In Banking, Curtis J. Gregory Jan 2016

Relationship Between Emotional Intelligence And Servant Leadership In Banking, Curtis J. Gregory

Walden Dissertations and Doctoral Studies

U.S.-based financial institutions have experienced significant failure rates since the mid-1980s. The problem within the U.S.-based banking industry is that the focus of leadership development has been primarily on cognitive abilities, whereas interpersonal skills, such as emotional intelligence, have been neglected. Research has focused on U.S. bank failures from a risk mitigation, economic, or legislative perspective, creating a gap in research on leadership behavior. The purpose of this correlation study was to determine whether a significant relationship exists between emotional intelligence and servant leadership among leaders in the U.S. small business banking industry. The theoretical framework compared intelligence types to …

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Impact Of Regulatory Burden On Small Community Banks In Pennsylvania, Teresa L. Gregory Jan 2016

Impact Of Regulatory Burden On Small Community Banks In Pennsylvania, Teresa L. Gregory

Walden Dissertations and Doctoral Studies

Community bank managers are struggling with the implementation of the many new regulations promulgated over the past several years. The purpose of this qualitative multiple case study was to explore strategies community bank managers in Pennsylvania use to implement new financial regulations. The population of interest included all community banks in Pennsylvania. For purposes of this study, a community bank was defined in terms of an asset size less than $500 million. Two community banks in Pennsylvania were selected, and 3 participants at each bank were interviewed. The participants included the chief executive officer, the compliance manager, and a mortgage …

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Winning Banking Strategies To Identify Efficiency Changes During A Financial Crisis, Adeeb Seman Hattar Jan 2016

Winning Banking Strategies To Identify Efficiency Changes During A Financial Crisis, Adeeb Seman Hattar

Walden Dissertations and Doctoral Studies

Between 2007 and 2009, taxpayers paid $700 billion to bail out failing U.S. banks. The purpose of this single case study was to explore strategies that leaders of a successful U.S. bank used to identify efficiency changes occurring during the financial crisis. The target population of this study included 6 bank leaders located in San Bernardino, California, who occupied a managerial role in a successful U.S. bank during a financial crisis, had experience with the efficiency changes that occurred during a financial crisis, and developed and implemented strategies to identify efficiency changes that took place during a financial crisis. The …

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The Value Of Connections In Turbulent Times: Evidence From The United States, Daron Acemoglu, Simon Johnson, Amir Kermani, James Kwak, Todd Mitton Jan 2016

The Value Of Connections In Turbulent Times: Evidence From The United States, Daron Acemoglu, Simon Johnson, Amir Kermani, James Kwak, Todd Mitton

Faculty Publications

The announcement of Timothy Geithner as nominee for Treasury Secretary in November 2008 produced a cumulative abnormal return for financial firms with which he had a prior connection. This return was about 6% after the first full day of trading and about 12% after ten trading days. There were subsequently abnormal negative returns for connected firms when news broke that Geithner’s confirmation might be derailed by tax issues. Personal connections to top executive branch officials can matter greatly even in a country with strong overall institutions, at least during a time of acute financial crisis and heightened policy discretion.

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Comparative Efficiency Study Between Islamic And Traditional Banks, Mohamed Rashwan, Heba Ehab Jan 2016

Comparative Efficiency Study Between Islamic And Traditional Banks, Mohamed Rashwan, Heba Ehab

Business Administration

Islamic banking caught attention due to its resilience to the significant shocks that hit the economy in late 2008. This research aims to evaluate the efficiency of a sample of 66 banks including both Islamic and traditional banks in various countries ranging from Egypt, Pakistan, Bangladesh, Saudi Arabia, Kuwait, Qatar, Iraq, Emirates, Sudan, Turkey, Bahrain and Jordan throughout 2009-2014. This research aims at identifying which banking regime proves to be more efficient and its significance using Financial Ratio Analysis (FRA), composed of cost efficiency, revenue efficiency and profit efficiency ratios along with the One-way ANOVA test. The impact of efficiency …

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Agents Of Change: The Role Of Foreign Financial Institutions In China’S Financial Transformation Since The Early 1990s, Anton Malkin Jan 2016

Agents Of Change: The Role Of Foreign Financial Institutions In China’S Financial Transformation Since The Early 1990s, Anton Malkin

Theses and Dissertations (Comprehensive)

What role have foreign financial institutions (FFIs) played in China’s financial evolution since the early 1990s? My research finds that FFIs, which include foreign commercial and investment banks, as well as private equity (PE) firms, have played a role in China’s financial evolution in three respects. First, US financial institutions have leveraged their influence in the US government, their ties to other business groups, and mobilized connections with the Chinese elite, to help China to join the World Trade Organization in 2001. This outcome created a relatively open formal, legal environment to foreign actors—helping in the cause of liberalizing China’s …

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Financial Decision-Making And The Normalization Of Deviance, Dilata Ranadive Jan 2016

Financial Decision-Making And The Normalization Of Deviance, Dilata Ranadive

Open Access Theses & Dissertations

Two perspectives have dominated the discourse on the causes of the financial crisis of 2008. The first attributes the financial crisis to intentionally malevolent behaviors, whereas the second attributes it to the natural market fluctuations. However, there is still a third, possible perspective. While the first two perspectives focus on the intention of the actors, the third perspective focuses on the response of the observers. This is what Vaughan (1996) refers to as "normalization of deviance". In normalization of deviance actions or decisions that are initially regarded as aberrant or atypical are re-conceptualized and adopted as the new criterion. The …

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Risk Management In The Venture Capital Industry: Managing Risk In Portfolio Companies, Dorian Proksch, Wiebke Stranz, Andreas Pinkwart, Michael Schefczyk Jan 2016

Risk Management In The Venture Capital Industry: Managing Risk In Portfolio Companies, Dorian Proksch, Wiebke Stranz, Andreas Pinkwart, Michael Schefczyk

The Journal of Entrepreneurial Finance

Managing risk is one of the main activities of venture capital companies. Despite the fact that this topic is of high practical relevance, only little research was published on risk management performed by venture capital companies in their ventures. Hence, we conducted a structured literature review which was the basis for developing five hypotheses concerning measures to decrease failure risk in venture capital-backed ventures. We tested these hypotheses with an empirical data set of 93 venture capital-backed ventures in Germany using original deal data from nine different venture capital funds using a structural equation model. We showed that the experience …

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Shareholder Value And Risk Effects Of Strategic Alliances, Thomas Turk, Candace Ybarra, Jeremy C. Goh, Hsu Junming, Li-Ling Li Jan 2016

Shareholder Value And Risk Effects Of Strategic Alliances, Thomas Turk, Candace Ybarra, Jeremy C. Goh, Hsu Junming, Li-Ling Li

Research Collection Lee Kong Chian School Of Business

This study examines how alliances affect the value and systematic risk of smaller and larger alliance partners. We find smaller partners generally gain from alliances and larger partners generally suffer significant losses. We examine this pattern for different types of alliances, experience with alliances, R&D intensity and relatedness of alliance partners. Gains to the smaller partners are particularly pronounced for technical partners, for smaller partners with high R&D intensity, and for related technical alliances. We also provide evidence that the systematic risk of both alliance partners declines following an alliance announcement, possibly explaining why larger firms engage in alliances with …

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