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Shareholder Value Creation in European M&As

Citations

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Cited by:

  1. Veronika Vinogradova, 2018. "Value creation through external growth strategy: the architecture of successful performance," Review of Quantitative Finance and Accounting, Springer, vol. 51(3), pages 847-882, October.
  2. Marina Martynova & Luc Renneboog, 2011. "The Performance of the European Market for Corporate Control: Evidence from the Fifth Takeover Wave," European Financial Management, European Financial Management Association, vol. 17(2), pages 208-259, March.
  3. 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.
  4. Hagendorff, Jens & Collins, Michael & Keasey, Kevin, 2008. "Investor protection and the value effects of bank merger announcements in Europe and the US," Journal of Banking & Finance, Elsevier, vol. 32(7), pages 1333-1348, July.
  5. Meinshausen, Steffen & Schiereck, Dirk, 2011. "Dressed to merge — small fits fine: M&A success in the fashion and accessories industry," International Review of Financial Analysis, Elsevier, vol. 20(5), pages 283-291.
  6. John J. García & Francesc Trillas, 2012. "Regulatory Reform and Corporate Control in European Energy Industries," Documentos de Trabajo de Valor Público 10664, Universidad EAFIT.
  7. José Campa & Ignacio Hernando, 2008. "The Reaction by Industry Insiders to M&As in the European Financial Industry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 33(2), pages 127-146, April.
  8. Riyad Neman Darwazeh & Mohammad Dabaghia, 2018. "Privatization Effect on Shareholder Value in the Jordanian State Owned Enterprises," International Journal of Economics and Financial Issues, Econjournals, vol. 8(2), pages 70-78.
  9. Ronan Powell & Sarah Prendergast & Ruchira Sharma, 2022. "The impact of economic nationalism in Europe on the returns to rivals of cross‐border M&A bids," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(9-10), pages 1784-1829, October.
  10. Johannes Kolb, 2019. "Do investment banks create value for their clients? Empirical evidence from European acquisitions," European Financial Management, European Financial Management Association, vol. 25(1), pages 80-115, January.
  11. Humphery-Jenner, M., 2011. "High Frequency Trading, Information, and Takeovers," Discussion Paper 2011-047, Tilburg University, Center for Economic Research.
  12. Huh, Kwang-Sook, 2015. "The performances of acquired firms in the steel industry: Do financial institutions cause bubbles?," The Quarterly Review of Economics and Finance, Elsevier, vol. 58(C), pages 143-153.
  13. Kellner, Tobias, 2024. "The impact of M&A announcements on stock returns in the European Union," International Review of Economics & Finance, Elsevier, vol. 89(PB), pages 843-862.
  14. Alcalde, Nuria & Powell, Ronan, 2022. "Government intervention in European mergers and acquisitions," The North American Journal of Economics and Finance, Elsevier, vol. 61(C).
  15. Feito-Ruiz, Isabel & Renneboog, Luc, 2017. "Takeovers and (excess) CEO compensation," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 50(C), pages 156-181.
  16. Antonios Antoniou & Philippe Arbour & Huainan Zhao, 2008. "How Much Is Too Much: Are Merger Premiums Too High?," European Financial Management, European Financial Management Association, vol. 14(2), pages 268-287, March.
  17. Díaz Díaz, Belén & Sanfilippo Azofra, Sergio & López Gutiérrez, Carlos, 2013. "Synergies or overpayment in European corporate M&A," MPRA Paper 51070, University Library of Munich, Germany.
  18. Germán Horacio Cardona Vélez, 2014. "Análisis del impacto de los cambios del control corporativo sobre el valor de las empresas en América Latina," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, June.
  19. Braun, Thorsten V. & Lehmann, Erik E. & Schwerdtfeger, Manuel T., 2011. "The stock market evaluation of IPO-firm takeovers," UO Working Papers 01-11, University of Augsburg, Chair of Management and Organization.
  20. Hoang Long Pham, 2015. "Impact of Cross-border Mergers and Acquisitions on Acquirers' Shareholders Wealth [Přeshraniční fúze a akvizice a jejich vliv na bohatství akcionářů]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2015(4), pages 78-92.
  21. Lina M. Cortés & John J. García & David Agudelo, 2015. "Effects of Mergers and Acquisitions on Shareholder Wealth: Event Study for Latin American Airlines," Documentos de Trabajo de Valor Público 12453, Universidad EAFIT.
  22. Wolfgang Bessler & Colin Schneck, 2015. "Excess premium offers and bidder success in European takeovers," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 5(1), pages 23-62, June.
  23. Andreou, Panayiotis C. & Louca, Christodoulos & Panayides, Photis M., 2012. "Valuation effects of mergers and acquisitions in freight transportation," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(6), pages 1221-1234.
  24. Jakub Marszalek & Bogna Kazmierska-Jozwiak & Ewelina Niedzielska, 2022. "The Value of the Acquiring Company and the Success of M&A Transaction in the Automotive Sector," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 160-176.
  25. Ana Lozano-Vivas & Subal Kumbhakar & Meryem Fethi & Mohamed Shaban, 2011. "Consolidation in the European banking industry: how effective is it?," Journal of Productivity Analysis, Springer, vol. 36(3), pages 247-261, December.
  26. Blevins, Dane P. & Moschieri, Caterina & Pinkham, Brian C. & Ragozzino, Roberto, 2016. "Institutional changes within the European Union: How global cities and regional integration affect MNE entry decisions," Journal of World Business, Elsevier, vol. 51(2), pages 319-330.
  27. Dennis C. Mueller & B. Burcin Yurtoglu, 2007. "Corporate governance and the returns to acquiring firms' shareholders: an international comparison," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 28(8), pages 879-896.
  28. Campa, Jose Manuel & Hernando, Ignacio, 2006. "M&As performance in the European financial industry," Journal of Banking & Finance, Elsevier, vol. 30(12), pages 3367-3392, December.
  29. Cristina López-Duarte & Esteban García-Canal, 2007. "Stock market reaction to foreign direct investments: Interaction between entry mode and FDI attributes," Management International Review, Springer, vol. 47(3), pages 393-422, June.
  30. Gerhard Wörtche & Tristan Nguyen, 2011. "The impact of M&A transactions from private equity and hedge funds," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 19(1), pages 45-57, February.
  31. Mateev, Miroslav & Andonov, Kristiyan, 2016. "Do cross-border and domestic bidding firms perform differently? New evidence from continental Europe and the UK," Research in International Business and Finance, Elsevier, vol. 37(C), pages 327-349.
  32. Martynova, M. & Renneboog, L.D.R., 2005. "Takeover Waves : Triggers, Performance and Motives," Other publications TiSEM ed134639-33ef-4720-9935-e, Tilburg University, School of Economics and Management.
  33. Massimiliano Affinito & Matteo Piazza, 2009. "What Are Borders Made of? An Analysis of Barriers to European Banking Integration," Springer Books, in: Alberto Zazzaro & Michele Fratianni & Pietro Alessandrini (ed.), The Changing Geography of Banking and Finance, edition 1, chapter 9, pages 185-211, Springer.
  34. repec:aly:journl:202067 is not listed on IDEAS
  35. Arturo Bris, 2005. "Do Insider Trading Laws Work?," European Financial Management, European Financial Management Association, vol. 11(3), pages 267-312, June.
  36. H. Kent Baker & Satish Kumar & Nitesh Pandey, 2020. "A bibliometric analysis of European Financial Managementʼs first 25 years," European Financial Management, European Financial Management Association, vol. 26(5), pages 1224-1260, November.
  37. Dranev, Yury & Frolova, Ksenia & Ochirova, Elena, 2019. "The impact of fintech M&A on stock returns," Research in International Business and Finance, Elsevier, vol. 48(C), pages 353-364.
  38. Martynova, M., 2006. "The market for corporate control and corporate governance regulation in Europe," Other publications TiSEM 8651e281-4914-41f2-ac14-1, Tilburg University, School of Economics and Management.
  39. Nihat Aktas & Eric de Bodt & Laurent Liagre, 2006. "Le décollage d'EADS:le point de vue des marchés financiers," Revue Finance Contrôle Stratégie, revues.org, vol. 9(1), pages 5-34, March.
  40. Tomasz P. Bednarczyk & Dirk Schiereck & Hardrik N. Walter, 2010. "Cross-border acquisitions and shareholder wealth: Evidence from the energy and industry in Central and Eastern Europe," Journal of East European Management Studies, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 15(2), pages 106-127.
  41. Gurvinder Brar & Daniel Giamouridis & Manolis Liodakis, 2009. "Predicting European Takeover Targets," European Financial Management, European Financial Management Association, vol. 15(2), pages 430-450, March.
  42. Moshfique Uddin & Agyenim Boateng, 2009. "An analysis of short‐run performance of cross‐border mergers and acquisitions," Review of Accounting and Finance, Emerald Group Publishing Limited, vol. 8(4), pages 431-453, October.
  43. Hyeongjik Lee & Seongcheol Kim & Changi Nam & Seung Hun Han, 2008. "Earnings Management of Acquiring Firms in Stock-for-Stock Takeovers in the Telecommunications Industry," Journal of Media Economics, Taylor & Francis Journals, vol. 21(4), pages 217-233.
  44. Joseph H. Golec & John A. Vernon, 2006. "European Pharmaceutical Price Regulation, Firm Profitability, and R&D Spending," NBER Working Papers 12676, National Bureau of Economic Research, Inc.
  45. Yang, Jin Young & Segara, Reuben, 2020. "Foreign investors’ trading behaviors around merger and acquisition announcements: Evidence from Korea," Finance Research Letters, Elsevier, vol. 37(C).
  46. Amporn SOONGSWANG, 2012. "Do M&A Enhance Values? Mixed Methods And Evidence," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 7(3(21)/ Fa), pages 312-325.
  47. Sharma, Abhijit & Raat, Erwin, 2016. "Acquiring control in emerging markets: Foreign acquisitions in Eastern Europe and the effect on shareholder wealth," Research in International Business and Finance, Elsevier, vol. 37(C), pages 153-169.
  48. Feito-Ruiz, Isabel & Menéndez-Requejo, Susana, 2011. "Cross-border Mergers and Acquisitions in different legal environments," International Review of Law and Economics, Elsevier, vol. 31(3), pages 169-187, September.
  49. Martynova, Marina & Renneboog, Luc, 2008. "A century of corporate takeovers: What have we learned and where do we stand?," Journal of Banking & Finance, Elsevier, vol. 32(10), pages 2148-2177, October.
  50. Katrien Craninckx & Nancy Huyghebaert, 2011. "Can Stock Markets Predict M&A Failure? A Study of European Transactions in the Fifth Takeover Wave," European Financial Management, European Financial Management Association, vol. 17(1), pages 9-45, January.
  51. Erik E. Lehmann & Manuel T. Schwerdtfeger, 2016. "Evaluation of IPO-firm takeovers: an event study," Small Business Economics, Springer, vol. 47(4), pages 921-938, December.
  52. Caterina Moschieri & Roberto Ragozzino & Jose Manuel Campa, 2014. "Does Regional Integration Change the Effects of Country-Level Institutional Barriers on M&A? The Case of the European Union," Management International Review, Springer, vol. 54(6), pages 853-877, December.
  53. Tao, Fang & Liu, Xiaohui & Gao, Lan & Xia, Enjun, 2017. "Do cross-border mergers and acquisitions increase short-term market performance? The case of Chinese firms," International Business Review, Elsevier, vol. 26(1), pages 189-202.
  54. Yılmaz, Işıl Sevilay & Tanyeri, Başak, 2016. "Global Merger and Acquisition (M&A) activity: 1992–2011," Finance Research Letters, Elsevier, vol. 17(C), pages 110-117.
  55. Alexandridis, George & Hoepner, Andreas G.F. & Huang, Zhenyi & Oikonomou, Ioannis, 2022. "Corporate social responsibility culture and international M&As," The British Accounting Review, Elsevier, vol. 54(1).
  56. 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).
  57. Clay Moffett & Mohammad Naserbakht, 2013. "Stock Price Behavior of Acquirers and Targets Due to M&A Announcement in USA Banking," Iranian Economic Review (IER), Faculty of Economics,University of Tehran.Tehran,Iran, vol. 18(1), pages 105-114, winter.
  58. Renneboog, L.D.R. & Szilagyi, P.G., 2006. "How do Mergers and Acquisitions Affect Bondholders in Europe? Evidence on the Impact and Spillover of Governance and Legal Standards," Other publications TiSEM 25af7145-7a86-4604-a6fd-4, Tilburg University, School of Economics and Management.
  59. Mager, Ferdinand & Meyer-Fackler, Martin, 2017. "Mergers and acquisitions in Germany: 1981–2010," Global Finance Journal, Elsevier, vol. 34(C), pages 32-42.
  60. Claire E. Ashton-James & Killian J. McCarthy & Anca Dranca-Iacoban, 2011. "Power, and the Destruction of Value in Mergers and Acquisitions," Chapters, in: Killian J. McCarthy & Maya Fiolet & Wilfred Dolfsma (ed.), The Nature of the New Firm, chapter 1, Edward Elgar Publishing.
  61. Svetlana Grigorieva & Tatiana Petrunina, 2015. "The performance of mergers and acquisitions in emerging capital markets: new angle," Journal of Management Control: Zeitschrift für Planung und Unternehmenssteuerung, Springer, vol. 26(4), pages 377-403, October.
  62. John J. García & Francesc Trillas, 2013. "European energy industry shocks, corporate control and firms' value," Documentos de Trabajo de Valor Público 10928, Universidad EAFIT.
  63. Mateev, Miroslav & Andonov, Kristiyan, 2018. "Do European bidders pay more in cross-border than in domestic acquisitions? New evidence from Continental Europe and the UK," Research in International Business and Finance, Elsevier, vol. 45(C), pages 529-556.
  64. Moschieri, Caterina & Campa, José Manuel, 2014. "New trends in mergers and acquisitions: Idiosyncrasies of the European market," Journal of Business Research, Elsevier, vol. 67(7), pages 1478-1485.
  65. Kiesel, Florian & Ries, Jörg M. & Tielmann, Artur, 2017. "The impact of mergers and acquisitions on shareholders' wealth in the logistics service industry," International Journal of Production Economics, Elsevier, vol. 193(C), pages 781-797.
  66. Nico Rottke & Dirk Schiereck & Stephan Pauser, 2011. "M&A in the Construction Industry -Wealth Effects of Diversification into Real Estate Life Cycle Related Services," International Real Estate Review, Global Social Science Institute, vol. 14(3), pages 283-310.
  67. Jakub Marszalek & Bogna Kazmierska-Jozwiak & Ewelina Niedzielska, 2022. "Value of the Acquiring Company and the Success of M&A Transaction in the Automotive Sector," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 700-716.
  68. Amici, Alessandra & Fiordelisi, Franco & Masala, Francesco & Ricci, Ornella & Sist, Federica, 2013. "Value creation in banking through strategic alliances and joint ventures," Journal of Banking & Finance, Elsevier, vol. 37(5), pages 1386-1396.
  69. Acero, Isabel & Alcalde, Nuria, 2021. "Institutional context as a moderator of the relationship between board structure and acquirer returns," Research in International Business and Finance, Elsevier, vol. 57(C).
  70. Kiesel, Florian & Ries, Jörg M. & Tielmann, Artur, 2017. "Reprint of “The impact of mergers and acquisitions on shareholders' wealth in the logistics service industry”," International Journal of Production Economics, Elsevier, vol. 194(C), pages 261-277.
  71. John García & Francesc Trillas, 2011. "Control corporativo y riqueza de los accionistas en el sector eléctrico europeo (2000-2007)," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 13(25), pages 297-319, July-Dece.
  72. von Eije, Henk & Wiegerinck, Hélène, 2010. "Shareholders' reactions to announcements of acquisitions of private firms: Do target and bidder markets make a difference?," International Business Review, Elsevier, vol. 19(4), pages 360-377, August.
  73. ATM Adnan, 2018. "Home vs. Cross-Border Takeovers: Is There Any Difference in Investor Perception?," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2018(2), pages 59-84.
  74. Gregory, Alan & O'Donohoe, Sheila, 2014. "Do cross border and domestic acquisitions differ? Evidence from the acquisition of UK targets," International Review of Financial Analysis, Elsevier, vol. 31(C), pages 61-69.
  75. Tomi Grönlund & Antti Louko & Mika Vaihekoski, 2008. "Corporate Real Estate Sale and Leaseback Effect: Empirical Evidence from Europe," European Financial Management, European Financial Management Association, vol. 14(4), pages 820-843, September.
  76. Abdourahmane Diaw, 2011. "The effect of mergers and acquisitions on shareholder wealth: the case of European banks [L'effet des fusions et acquisitions sur la richesse des actionnaires: le cas des banques européennes]," Post-Print hal-01184673, HAL.
  77. Dong, Liping & Uchida, Konari & Hou, Xiaohong, 2020. "Are future capital gain opportunities important in the market for corporate control? Evidence from China," Journal of Corporate Finance, Elsevier, vol. 63(C).
  78. Jensen-Vinstrup, Mathias & Rigamonti, Damiana & Wulff, Jesper, 2018. "European cross-border acquisitions: Long-run stock returns and firm characteristics," Journal of Multinational Financial Management, Elsevier, vol. 47, pages 31-45.
  79. Pop, Diana, 2006. "M&A market in transition economies: Evidence from Romania," Emerging Markets Review, Elsevier, vol. 7(3), pages 244-260, September.
  80. Stefano Caiazza & Alberto Franco Pozzolo & Giovanni Trovato, 2014. "Do domestic and cross-border M&As differ? Cross-country evidence from the banking sector," Applied Financial Economics, Taylor & Francis Journals, vol. 24(14), pages 967-981, July.
  81. Ayton, Julie & Rao-Nicholson, Rekha, 2018. "Cross-border arbitrage and acquirers’ returns in the Eurozone crisis," Journal of Economics and Business, Elsevier, vol. 95(C), pages 87-102.
  82. Szilagyi, P.G., 2007. "Corporate governance and the agency costs of debt and outside equity," Other publications TiSEM 9520d40a-224f-43a8-9bf9-b, Tilburg University, School of Economics and Management.
  83. Craninckx, Katrien & Huyghebaert, Nancy, 2015. "Large shareholders and value creation through corporate acquisitions in Europe. The identity of the controlling shareholder matters," European Management Journal, Elsevier, vol. 33(2), pages 116-131.
  84. Humphery-Jenner, M., 2011. "High Frequency Trading, Information, and Takeovers," Other publications TiSEM 30aa1477-0fb2-46ed-a5eb-f, Tilburg University, School of Economics and Management.
  85. José Manuel Campa, 2006. "Corporate restructuring and M&A activity," CESifo Forum, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 7(01), pages 17-21, April.
  86. Humphery-Jenner, M., 2011. "High Frequency Trading, Information, and Takeovers," Other publications TiSEM 0e6dd147-6f57-4f32-b265-f, Tilburg University, School of Economics and Management.
  87. Manapol Ekkayokkaya & Phil Holmes & Krishna Paudyal, 2009. "The Euro and the Changing Face of European Banking: Evidence from Mergers and Acquisitions," European Financial Management, European Financial Management Association, vol. 15(2), pages 451-476, March.
  88. Kohli, Reena & Mann, Bikram Jit Singh, 2012. "Analyzing determinants of value creation in domestic and cross border acquisitions in India," International Business Review, Elsevier, vol. 21(6), pages 998-1016.
  89. Hoang Long Pham, 2014. "Cross-Border Mergers & Acquisitions Performance Measurement [Metody měření výkonnosti/efektivnosti přeshraničních fúzí a akvizic]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2014(3), pages 122-131.
  90. Yen, Tze-Yu & André, Paul, 2019. "Market reaction to the effect of corporate social responsibility on mergers and acquisitions: Evidence on emerging markets," The Quarterly Review of Economics and Finance, Elsevier, vol. 71(C), pages 114-131.
  91. Junmao Chiu & Huimin Chung & Shih-Chang Hung, 2018. "The Impact Of A Cross-Border Conglomerate Merger On The Target Firm And Its Rivals - A Case Study Of Foxconn’S Acquisition Of Sharp," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 12(1), pages 263-277.
  92. Aktas, Nihat & de Bodt, Eric & Cousin, Jean-Gabriel, 2011. "Do financial markets care about SRI? Evidence from mergers and acquisitions," Journal of Banking & Finance, Elsevier, vol. 35(7), pages 1753-1761, July.
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