Acquisitions by Emerging Multinational Corporations

Motivation and Performance of Transactions in Western Europe and North America
1. Auflage 2018
ISBN: 978-3-658-19111-5
Verlag: Springer

Buch, Englisch, 429 Seiten, Book, Format (B × H): 148 mm x 210 mm, Gewicht: 5843 g

Reihe: Schriften zum europäischen Management

This thesis analyzes the motivation and performance of 403 acquisitions made by emerging multinational corporations (EMNCs) in Western Europe and North America between 1994 and 2013. The findings indicate that most EMNCs were motivated to acquire in order to obtain access to the upstream and downstream know-how of their target firms. In addition, the thesis' event study results demonstrate that EMNCs on average generated value for their shareholders with their acquisitions over short periods around acquisition announcement. This result is particularly significant since similar studies on buying firms from developed markets have frequently come to the conclusion that acquirers destroy shareholder value.

Zielgruppe

Research

Autoren/Hrsg.

Distler, Johannes

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Internationale Wirtschaft Wirtschaftliche Globalisierung
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Multinationale Unternehmen
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Mergers & Acquisitions (M&A), Übernahmen & Buy-outs

Inhaltsverzeichnis

Prior research on EMNCs and their M&A activity.- Event studies as a research method for measuring M&A performance.- Acquisition motivation and performance of EMNCs in Western Europe and North America.

Über Autor(innen)

Dr. Johannes Distler completed his doctoral thesis under the supervision of Prof. Dr. Reinhard Meckl at the University of Bayreuth in Germany. He studied management at the University of Mannheim, University of St. Gallen, Kellogg School of Management and Pepperdine University, and works at an international consulting firm, advising clients on strategy, M&A and post-merger integration projects.