IDEAS home Printed from https://ideas.repec.org/h/spr/conchp/978-3-7908-2082-9_21.html
   My bibliography  Save this book chapter

Shareholder Wealth Effects of Mergers and Acquisitions in the Telecommunications Industry

In: Telecommunication Markets

Author

Listed:
  • Olaf Rieck

    (DoanNanyang Technological University)

  • Canh Thang Doan

    (DoanNanyang Technological University)

Abstract

In the past 10 years, Telecoms operators frequently engaged in M&As with the objectives to grow bigger and achieve higher earnings. However, the question arises whether and under what conditions they have really been able to achieve these objectives. The aim of this research is to investigate M&As in the telecoms industry and analyze the conditions under which such M&As can be considered successful. In doing so, we employ the event study method, which traces immediate market reactions to M&A announcements and the corresponding shareholder value effects. We first apply the event study method to our full set of M&As to obtain a broad picture of the shareholder value effects of M&As in the telecoms industry. We then proceed by investigating specifically (1) whether the shareholder value effects depend on the degree to which M&As are driven by a service diversification strategy; and (2) whether the shareholder value effects depend on the M&As being driven by an international diversification strategy.

Suggested Citation

  • Olaf Rieck & Canh Thang Doan, 2009. "Shareholder Wealth Effects of Mergers and Acquisitions in the Telecommunications Industry," Contributions to Economics, in: Peter Curwen & Justus Haucap & Brigitte Preissl (ed.), Telecommunication Markets, pages 363-394, Springer.
    • Handle: RePEc:spr:conchp:978-3-7908-2082-9_21
    DOI: 10.1007/978-3-7908-2082-9_21
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Navío-Marco, Julio & Solórzano-García, Marta & Matilla-García, Mariano & Urueña, Alberto, 2016. "Language as a key factor of long-term value creation in mergers and acquisitions in the telecommunications sector," Telecommunications Policy, Elsevier, vol. 40(10), pages 1052-1063.
    2. Navío-Marco, Julio & Serrano Calle, Silvia & Solórzano-García, Marta, 2017. "Analysis of glamorous acquisitions in the telecommunications sector: Overvaluation or success?," 28th European Regional ITS Conference, Passau 2017 169487, International Telecommunications Society (ITS).
    3. Lee, Hyeongjik & Seol, Seong-ho & Kweon, Soo Cheon, 2012. "An event study of the first telecommunications spectrum auction in Korea and "the winner's curse"," 23rd European Regional ITS Conference, Vienna 2012 60394, International Telecommunications Society (ITS).
    4. Navio-Marco, J & Solorzano-Garcia, M & Urueña, A., 2015. "Language As Key Factor Of Long-Term Value Creation In Mergers And Acquisitions In The Telecommunications Sector," 26th European Regional ITS Conference, Madrid 2015 127170, International Telecommunications Society (ITS).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:conchp:978-3-7908-2082-9_21. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.