Analytical Perspectives on Mergers and Acquisitions: A Survey
AbstractThe aim of this paper is to supply the reader with a survey of the most widely debated issues related to mergers and acquisitions. We review the existing theoretical and empirical literature on the causes and consequences of mergers. The bulk of the empirical evidence on the profitability of mergers and on the stock performance of the merging partners shows that mergers are usually unprofitable and that the only group who stand to profit from a merger are the shareholders of the acquired company. This evidence has prompted a variety of theoretical explanations to be put forward as to why mergers occur. We provide a systematic review of such theories. We also analyse the related issue of the consequences of mergers on economic welfare, and review both theories and the empirical work on this issue.
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Bibliographic InfoPaper provided by London South Bank University CIBS in its series CIBS Research Papers in International Business with number 5-97.
Length: 47 pages
Date of creation: 1997
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Postal: London South Bank University Business School 103 Borough Road London SE1 0AA United Kingdom
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- G. Ietto-Gillies, 1998. "A Comparison of Merged versus Non-merged Business Establishments in Britain: What Can we Learn from the Workplace Industrial Relations Survey?," CIBS Research Papers in International Business 10-98, London South Bank University CIBS.
- Grazia Ietto-Gillies & Meloria Meschi, 1999. "The Characteristics, Performance and Strategic Behaviour of Merged Versus Non-Merged Establishments in Britain," Review of Industrial Organization, Springer, vol. 15(1), pages 1-24, August.
- Andrés Felipe García-Suaza & José Eduardo Goméz-Gonzáleza, .
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Borradores de Economia
567, Banco de la Republica de Colombia.
- García-Suaza, Andrés Felipe & Gómez-González, José E., 2010. "The competing risks of acquiring and being acquired: Evidence from Colombia's financial sector," Economic Systems, Elsevier, vol. 34(4), pages 437-449, December.
- Andrés Felipe García-Suaza & José Eduardo Gómez-González, 2009. "The Competing Risks of Acquiring and Being Acquired: Evidence from Colombia´s Financial Sector," BORRADORES DE ECONOMIA 005676, BANCO DE LA REPÚBLICA.
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