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The Impact of Acquisitions on Company Performance: Evidence from a Large Panel of UK Firms

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Cited by:

  1. Elena Cefis & Orietta Marsili & Hans Schenk, 2009. "The effects of mergers and acquisitions on the firm size distribution," Journal of Evolutionary Economics, Springer, vol. 19(1), pages 1-20, February.
  2. Michelle Haynes & Steve Thompson, 1999. "Merger Activity and Employment: Evidence from the UK Mutual Sector," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 26(1), pages 39-54, March.
  3. André Betzer & Markus Doumet & Marc Goergen, 2015. "Disentangling the link between stock and accounting performance in acquisitions," The European Journal of Finance, Taylor & Francis Journals, vol. 21(9), pages 755-771, July.
  4. Emilios Galariotis & Kyriaki Kosmidou & Dimitrios Kousenidis & Eirini Lazaridou & Trifon Papapanagiotou, 2021. "Measuring the effects of M&As on Eurozone bank efficiency: an innovative approach on concentration and credibility impacts," Annals of Operations Research, Springer, vol. 306(1), pages 343-368, November.
  5. Marc Goergen, 2005. "Corporate Governance Convergence: Evidence From Takeover Regulation Reforms in Europe," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 21(2), pages 243-268, Summer.
  6. Christian Bellak, 2001. "Multinational Enterprises and Their Domestic Counterparts: Past Research, Current Issues and Future Directions," Working Papers geewp18, Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.
  7. Natalia Isachenkova & John Hunter, 2002. "A Panel Analysis Of UK Industrial Company Failure," Working Papers wp228, Centre for Business Research, University of Cambridge.
  8. Andrew P. Dickerson & Heather D. Gibson & Euclid Tsakalotos, 2003. "Is attack the best form of defence? A competing risks analysis of acquisition activity in the UK," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 27(3), pages 337-357, May.
  9. Matej Lahovnik & Vladimir Malenkovic, 2011. "Corporate acquisition strategies and economic performance – A case of Slovenia," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 29(1), pages 33-50.
  10. Haynes, Michelle & Thompson, Steve, 1999. "The productivity effects of bank mergers: Evidence from the UK building societies," Journal of Banking & Finance, Elsevier, vol. 23(5), pages 825-846, May.
  11. Johan Wiklund & Dean A. Shepherd, 2009. "The Effectiveness of Alliances and Acquisitions: The Role of Resource Combination Activities," Entrepreneurship Theory and Practice, , vol. 33(1), pages 193-212, January.
  12. Oliver Budzinski & Jürgen-Peter Kretschmer, 2016. "Implications of Unprofitable Horizontal Mergers: A Positive External Effect Does Not Suffice To Clear A Merger!," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 10(1), March.
  13. Damilola Oyetade & Farai Kwenda & Ralitza Dobreva, 2017. "Factors affecting the Long-Term Post-Acquisition Performance of BRICS Firms Engaging in Cross-Border Mergers and Acquisitions," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 13(2), pages 220-233, April.
  14. Michael Pfaffermayr & Christian Bellak, 2002. "Why Foreign-owned Firms are Different: A Conceptual Framework and Empirical Evidence for Austria," Palgrave Macmillan Books, in: Rolf Jungnickel (ed.), Foreign-owned Firms, chapter 2, pages 13-57, Palgrave Macmillan.
  15. Diana Marieta Mihaiu & Radu-Alexandru Șerban & Alin Opreana & Mihai Țichindelean & Vasile Brătian & Liliana Barbu, 2021. "The Impact of Mergers and Acquisitions and Sustainability on Company Performance in the Pharmaceutical Sector," Sustainability, MDPI, vol. 13(12), pages 1-24, June.
  16. Rezitis, Anthony N., 2008. "Efficiency and productivity effects of bank mergers: Evidence from the Greek banking industry," Economic Modelling, Elsevier, vol. 25(2), pages 236-254, March.
  17. Andy Cosh & Paul Guest & Alan Hughes, 2007. "UK Corporate Governance and Takeover Performance," Working Papers wp357, Centre for Business Research, University of Cambridge.
  18. R. Abdul Rahman & R.J. Limmack, 2004. "Corporate Acquisitions and the Operating Performance of Malaysian Companies," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 31(3‐4), pages 359-400, April.
  19. Chunlai Chen & Christopher Findlay, 2003. "A Review of Cross‐border Mergers and Acquisitions in APEC," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 17(2), pages 14-38, November.
  20. Diaz, Belen Diaz & Olalla, Myriam Garcia & Azofra, Sergio Sanfilippo, 2004. "Bank acquisitions and performance: evidence from a panel of European credit entities," Journal of Economics and Business, Elsevier, vol. 56(5), pages 377-404.
  21. Ramadhan H. Wicaksana, 2020. "Bidder Value Implications of Cross-Border vs Domestic Acquisitions: A Study of Dutch Firms," International Journal of Business and Administrative Studies, Professor Dr. Bahaudin G. Mujtaba, vol. 6(3), pages 121-135.
  22. Martynova, M. & Renneboog, L.D.R., 2005. "Takeover Waves : Triggers, Performance and Motives," Discussion Paper 2005-029, Tilburg University, Tilburg Law and Economic Center.
  23. P. Geroski, 1998. "An Applied Econometrician's View of Large Company Performance," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 13(3), pages 271-294, June.
  24. Martynova, M. & Oosting, S. & Renneboog, L.D.R., 2006. "The Long-Term Operating Performance of European Mergers and Acquisitions," Discussion Paper 2006-111, Tilburg University, Center for Economic Research.
  25. Ajit Singh, 2003. "Competition, corporate governance and selection in emerging markets," Economic Journal, Royal Economic Society, vol. 113(491), pages 443-464, November.
  26. Bhabra, Harjeet S. & Huang, Jiayin, 2013. "An empirical investigation of mergers and acquisitions by Chinese listed companies, 1997–2007," Journal of Multinational Financial Management, Elsevier, vol. 23(3), pages 186-207.
  27. Csengődi, Sándor & Jungnickel, Rolf & Urban, Dieter M., 2005. "Foreign Takeovers and Wages: Theory and Evidence from Hungary," HWWA Discussion Papers 337, Hamburg Institute of International Economics (HWWA).
  28. Kamerbeek, S.P., 2009. "Merger Performance and Efficiencies in Horizontal Merger Policy in the US and the EU," MPRA Paper 18064, University Library of Munich, Germany.
  29. Utz Weitzel & Killian J. McCarthy, 2011. "Theory and evidence on mergers and acquisitions by small and medium enterprises," International Journal of Entrepreneurship and Innovation Management, Inderscience Enterprises Ltd, vol. 14(2/3), pages 248-275.
  30. Magnus Bild & Paul Guest & Andy Cosh & Mikael Runsten, 2002. "Do takeovers create value? A residual income approach on UK data," Working Papers wp252, Centre for Business Research, University of Cambridge.
  31. Ru-Shiun Liou & Rekha Rao-Nicholson, 2019. "Age Matters: The Contingency of Economic Distance and Economic Freedom in Emerging Market Firm’s Cross-Border M&A Performance," Management International Review, Springer, vol. 59(3), pages 355-386, June.
  32. Ullah, Nazim & Mat Nor, Fauzias & Abu Seman, Junaidah & Ainna Binti Ramli, Nur & FADLY, AHMED, 2023. "Mergers and Acquisitions in Islamic Banking Sector: An Empirical Analysis on Size Effect, Market Structure, and Operational," MPRA Paper 118681, University Library of Munich, Germany.
  33. Wen, Riguang & Wang, Siyi & Ouyang, Yingting, 2024. "Does the pricing of intra-group investment deviate from the market rule? Evidence from domestic merger and acquisition transactions under common control in China," International Review of Financial Analysis, Elsevier, vol. 91(C).
  34. Irina Chiriac, 2019. "Economic Performance in Merger Operations," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 667-675, December.
  35. 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.
  36. Bhaumik, Sumon Kumar & Selarka, Ekta, 2012. "Does ownership concentration improve M&A outcomes in emerging markets?," Journal of Corporate Finance, Elsevier, vol. 18(4), pages 717-726.
  37. Kun Liu & Shiyi Wu & Na Guo, 2021. "Governmental governance of host countries and cross-border merger and acquisition performance: Evidence from listed enterprises in China," PLOS ONE, Public Library of Science, vol. 16(8), pages 1-19, August.
  38. McKnight, Phillip J. & Weir, Charlie, 2009. "Agency costs, corporate governance mechanisms and ownership structure in large UK publicly quoted companies: A panel data analysis," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(2), pages 139-158, May.
  39. Liou, Ru-Shiun & Rao-Nicholson, Rekha, 2017. "Out of Africa: The role of institutional distance and host-home colonial tie in South African Firms’ post-acquisition performance in developed economies," International Business Review, Elsevier, vol. 26(6), pages 1184-1195.
  40. Girma, Sourafel & Steve Thompson & Peter Wright, 2002. "Merger Activity and Executive Pay," Royal Economic Society Annual Conference 2002 87, Royal Economic Society.
  41. Stefan Hirsch, 2018. "Successful In The Long Run: A Meta†Regression Analysis Of Persistent Firm Profits," Journal of Economic Surveys, Wiley Blackwell, vol. 32(1), pages 23-49, February.
  42. Lucrezia Fattobene & Marco Caiffa, 2016. "Sitting on the Board or Sitting on the Throne? Evidence of Boards' Overconfidence from the Italian Market," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 45(2), pages 235-269, July.
  43. Toumi Hassen & Issaoui Fakhri & Ammouri Bilel & Touili Wassim & Hamdi Faouzi, 2018. "Dynamic Effects of Mergers and Acquisitions on the Performance of Commercial European Banks," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 9(3), pages 1032-1048, September.
  44. Shams, Syed M.M. & Gunasekarage, Abeyratna, 2016. "Operating performance following corporate acquisitions: Does the organisational form of the target matter?," Journal of Contemporary Accounting and Economics, Elsevier, vol. 12(1), pages 1-14.
  45. Gunther Tichy, 2001. "What Do We Know about Success and Failure of Mergers?," Journal of Industry, Competition and Trade, Springer, vol. 1(4), pages 347-394, December.
  46. Rao-Nicholson, Rekha & Salaber, Julie & Cao, Tuan Hiep, 2016. "Long-term performance of mergers and acquisitions in ASEAN countries," Research in International Business and Finance, Elsevier, vol. 36(C), pages 373-387.
  47. Andy Cosh & Alan Hughes, 2008. "Takeovers after "Takeovers"," Working Papers wp363, Centre for Business Research, University of Cambridge.
  48. Swarnodeep Homroy, 2014. "Pay increase may not be a strong incentive for undertaking acquisitions," Working Papers 66910750, Lancaster University Management School, Economics Department.
  49. 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.
  50. Girma, Sourafel & Görg, Holger, 2001. "Blessing or Curse? Domestic Plants' Survival and Employment Prospects After Foreign Acquisition," CEPR Discussion Papers 2994, C.E.P.R. Discussion Papers.
  51. Sumon Kumar Bhaumik & Ekta Selarka, 2008. "Impact of M&A on firm performance in India: Implications for concentration of ownership and insider entrenchment," William Davidson Institute Working Papers Series wp907, William Davidson Institute at the University of Michigan.
  52. 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.
  53. Puja Aggarwal & Sonia Garg, 2022. "Impact of Mergers and Acquisitions on Accounting-based Performance of Acquiring Firms in India," Global Business Review, International Management Institute, vol. 23(1), pages 218-236, February.
  54. Ali-Yrkkö, Jyrki, 2002. "Mergers and Acquisitions - Reasons and Results," Discussion Papers 792, The Research Institute of the Finnish Economy.
  55. Park, Sungwook & Kwon, Youngsun, 2023. "Disentangling the effects on OTT platform performance of three strategies: Pricing, M&As, and content investments," Telecommunications Policy, Elsevier, vol. 47(8).
  56. Dimara, Efthalia & Tzelepis, Dimitris & Skuras, Dimitris, 2000. "Regional Development Incentives And Firm Survival: A Case Study Of The Greek Food Sector," ERSA conference papers ersa00p209, European Regional Science Association.
  57. Lucia Piscitello & Larissa Rabbiosi, 2005. "The impact of inward FDI on local companies' labour productivity: evidence from the Italian case," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 12(1), pages 35-51.
  58. Halkos, George E. & Tzeremes, Nickolaos G., 2013. "Estimating the degree of operating efficiency gains from a potential bank merger and acquisition: A DEA bootstrapped approach," Journal of Banking & Finance, Elsevier, vol. 37(5), pages 1658-1668.
  59. George Giannopoulos & Ehsan Khansalar & Patel Neel, 2017. "The Impact of Single and Multiple Mergers and Acquisitions on Shareholders¡¯ Wealth of UK Bidder Firms," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(3), pages 141-167, March.
  60. Georgescu Iuliana Eugenia & Chiriac Irina, 2012. "The Analysis of the Influential Factors of the Absorbing Companies’ Performances," Scientific Annals of Economics and Business, Sciendo, vol. 59(1), pages 3-25, July.
  61. Agyenim Boateng & XiaoGang Bi & Sanjukta Brahma, 2017. "The impact of firm ownership, board monitoring on operating performance of Chinese mergers and acquisitions," Review of Quantitative Finance and Accounting, Springer, vol. 49(4), pages 925-948, November.
  62. Erl, Ludwig & Kiesel, Florian & Koenigsmarck, Markus & Schiereck, Dirk, 2023. "Performance effects of sell-offs and the role of sell-off experience," The Quarterly Review of Economics and Finance, Elsevier, vol. 88(C), pages 244-257.
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