战略收购促进增长的价值创造模式

IF 0.7 Q4 BUSINESS, FINANCE

Asian Academy of Management Journal of Accounting and Finance Pub Date : 2023-11-30 DOI:10.21315/aamjaf2023.19.2.5

Veronika S. Vinogradova

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引用次数: 0

摘要

本文扩展了以往关于战略交易（并购）的研究，重点分析了并购公司的事前业绩与为实现增长而进行的战略并购中的价值创造之间的关系。它确定了成功交易的先决条件，并以实证方法检验了收购公司的关键基本决定因素如何影响投资者在公告前后的反应以及收购方在公告后几年的财务表现。分析结果证实，并购公司在并购前的内在表现会对战略并购的结果和盈利能力产生重大影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Patterns of Value Creation in Strategic Acquisitions for Growth

This paper extends the previous research on strategic transactions (M&A) and focuses on the analysis of the relationship between the pre-event performance of acquiring companies and value creation in strategic acquisitions for growth. It identifies the prerequisites of successful transactions and tests empirically how the key fundamental determinants of the acquiring companies influence investors’ reaction around the announcement and acquirers’ financial performance in the years after. The results of the analysis confirm that the intrinsic pre-event performance of the acquiring firm can significantly impact the outcome and profitability of strategic M&A.

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来源期刊

Asian Academy of Management Journal of Accounting and Finance BUSINESS, FINANCE-

CiteScore

1.50

自引率

0.00%

发文量

审稿时长

20 weeks

期刊介绍： To provide a forum for the exchange of ideas and dissemination of empirical findings and analytical research in the specialized areas of accounting and finance with special emphasis on scholarly works with policy implications for countries in the Asia Pacific. The following are some of the topical subject areas relevant to the journal (but are not limited to): Accounting • Financial reporting and accounting standards • Auditing issues • Value based accounting and its relevance • Theory of accounting firm • Environmental auditing • Corporate governance issues • Public sector accounting Finance • Valuation of financial assets • International capital flows • Ownership and agency theory • Stock market behavior • Investment and portfolio management • Islamic banking and finance • Microstructures of financial markets