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Acquisitions by Emerging Multinational Corporations
Johannes Distler
其他書名
Motivation and Performance of Transactions in Western Europe and North America
出版Springer, 2017-07-27
主題Business & Economics / International / GeneralBusiness & Economics / Marketing / Research
ISBN36581911209783658191122
URLhttp://books.google.com.hk/books?id=DJouDwAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋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.