International mergers and acquisitions: a review of some current issues
Article Abstract:
The business cycle of international mergers and acquisitions has provoked restructuring activity in the US. The mergers market was particularly robust during the 1980s. However, the number of reported merger failures reached 252 in 1993, accounting for one failure for every 16 completed mergers. In Europe, merger activity started slowly during the 1990s, but major pacts by Philip Morris of Switzerland and Guinness of Spain stood out. In Japan, merger activity has been slow due to the rise in the cost of capital and the declining Japanese economy.
Publication Name: Managerial Finance
Subject: Business
ISSN: 0307-4358
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
The business judgement rule vs. the efficient market hypothesis
Article Abstract:
Conflict between the business judgement rule (BJR) and efficient market hypothesis (EMH) arises during company takeovers. The BJR emphasizes on decision-making while EMH emphasizes on the effects of decisions. The conflict is attributed to the different perceptions about the value of a company. The EMH values a company based on stock prices while board members determine the value of a company for the BJR.
Publication Name: Managerial Finance
Subject: Business
ISSN: 0307-4358
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Industrial structure, conduct and performance: evidence from corporate combinations
Article Abstract:
A study of the industry structure-related determinants of market value gains and losses in corporate consolidations reveals new proof supporting the theory that mergers are largely prompted by efficiency rather than anti-competitive forces. Nonetheless, the Efficient Structure view may be incomplete in light of the fact that merger gains and profitability are associated positively.
Publication Name: Managerial Finance
Subject: Business
ISSN: 0307-4358
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: International Accounting Standard 12 (revised 1996): income taxes. The Singapore experience
- Abstracts: International Accounting Standard 12 (revised 1996): income taxes. part 2 Out of Africa
- Abstracts: IRS procedures for offers-in-compromise under section 7122. Mergers & acquisitions: tax strategies
- Abstracts: Management control systems and strategy: a critical review. Towards a meta-theory of accounting information systems
- Abstracts: The London International Stock Exchange's foreign currency exposures to the dollar, yen and mark. Some evidence on regime shifts in international stock markets