2016
DOI: 10.1108/sef-07-2015-0165
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Mergers and acquisitions: a review (part 2)

Abstract: Purpose This paper aims to review the relevant literature on mergers and acquisitions in an attempt to provide a comprehensive account of what we know about mergers and which parts of the puzzle are still incomplete. Design/methodology/approach This literature review consists of three key sections. The first part of this paper summarises the literature on the cyclical nature of mergers referred to in the literature as merger waves. The second section reviews the causes and consequences of takeovers; it first… Show more

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Cited by 33 publications
(21 citation statements)
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References 231 publications
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“…Similar studies have been investigated by other researchers, such as (Cheny & Gayle, 2018;Hamza, Sghaier, & Thraya, 2016;Meier & Schier, 2016;Rabier, 2017;Tarba, Ahammad, Junni, Stokes, & Morag, 2017;Yaghoubi, Yaghoubi, Locke, & Gibb, 2016) who examine the synergy of operations as a goal of acquisition of company performance. Whereas (Duan, & Jin, 2019;Duan & Li, 2015;Erel, Jang, & Weisbach, 2015;Hamza et al, 2016;Yaghoubi et al, 2016) examine financial synergy as an acquisition goal to company performance but there is no research that uses firm reputation as a mediator.…”
Section: Introductionmentioning
confidence: 75%
See 1 more Smart Citation
“…Similar studies have been investigated by other researchers, such as (Cheny & Gayle, 2018;Hamza, Sghaier, & Thraya, 2016;Meier & Schier, 2016;Rabier, 2017;Tarba, Ahammad, Junni, Stokes, & Morag, 2017;Yaghoubi, Yaghoubi, Locke, & Gibb, 2016) who examine the synergy of operations as a goal of acquisition of company performance. Whereas (Duan, & Jin, 2019;Duan & Li, 2015;Erel, Jang, & Weisbach, 2015;Hamza et al, 2016;Yaghoubi et al, 2016) examine financial synergy as an acquisition goal to company performance but there is no research that uses firm reputation as a mediator.…”
Section: Introductionmentioning
confidence: 75%
“…Similar studies have been investigated by other researchers, such as (Cheny & Gayle, 2018;Hamza, Sghaier, & Thraya, 2016;Meier & Schier, 2016;Rabier, 2017;Tarba, Ahammad, Junni, Stokes, & Morag, 2017;Yaghoubi, Yaghoubi, Locke, & Gibb, 2016) who examine the synergy of operations as a goal of acquisition of company performance. Whereas (Duan, & Jin, 2019;Duan & Li, 2015;Erel, Jang, & Weisbach, 2015;Hamza et al, 2016;Yaghoubi et al, 2016) examine financial synergy as an acquisition goal to company performance but there is no research that uses firm reputation as a mediator. Based on research by (Cheny & Gayle, 2018;Fong, Lee, & Du, 2013;Hassan, Ghauri, & Mayrhofer, 2018;Jenner, Sautner, & Suchard, 2017;Matarazzo, De Vanna, Lanzilli, & Resciniti, 2017;Sigera & Cahoon, 2018;Waeraas & Sataøen, 2015) operational synergies and financial synergies as acquisition goals have an impact on (Cabral, 2016;Cellier & Chollet, 2016;Chalençon, Colovic, Lamotte, & Mayrhofer, 2017;Erden, Klang, Sydler, & von Krogh, 2015;Gao, Zuzul, Jones, & Khanna, 2017;Haleblian et al, 2017;Popli, Ladkani, & Gaur, 2017;Zavyalova, Pfarrer, Reger, & Hubbard, 2016) firm reputation and have a significant positive relationship on company performance.…”
Section: Introductionmentioning
confidence: 75%
“…CARs for (+1;-1) in Yilmaz and Tanyeri (2016), Kinateder et al 2017 andYaghoubi et al 2016a and 2016b are statistically significant. More, Yaghoubi et al 2016a and2016b show that the abnormal performance in mergers is statistically significant. The statistical significance of differences in means might be interpreted as illustrating that contributions of acquirers and target firms to the merged entity are different.…”
Section: (Excess) Returnsmentioning
confidence: 96%
“…Valuation error is applicable to the study as real estate appraisers are all to some level to misprice properties. Hubris is most likely not to apply as REIT mergers are friendly in nature (seeWomack 2012) Yaghoubi et al 2016b. show that managers whose compensation is equity based, pay less premium.…”
mentioning
confidence: 99%
“…In transition economies and emerging market countries, financing activities are influenced greatly by government performance goals. The relation between M&A financing methods and M&A performance is affected by the characteristics of acquirers, such as ownership [33]. Prior research in this area maintains that the government's preference leads to higher M&A performance for SOEs than for POEs [2].…”
Section: Manda Financing Ownership and Manda Performancementioning
confidence: 99%