Department of Management

Permanent URI for this communityhttps://hdl.handle.net/11693/115639

Browse

Browsing Department of Management by Subject "Acquisitions"

Filter results by typing the first few letters
Now showing 1 - 3 of 3
  • Thumbnail Image
    ItemOpen Access
    Global Merger and Acquisition (M&A) activity: 1992-2011
    (Elsevier Ltd, 2016) Yılmaz, I. S.; Tanyeri B.
    In our global sample of 263,461 deals in 47 countries, 3-day target cumulative abnormal returns (CARs) average 6.9% and bidder CARs average 1.4%. When we impose the common filters used in the literature which restrict the sample to completed acquisitions of public firms, target CARs increase from 6.9% to 13%. Our findings indicate that M&A activity (particularly in deals where control rights are sold) generates value. We also find that the magnitudes of bidder and target CARs in developed countries are higher than those in emerging-market countries.
  • Thumbnail Image
    ItemOpen Access
    M&A activity during the COVID-19 pandemic
    (Taylor&Francis, 2023-05-24) Ançel İlaslan, Z.; Tanyeri-Günsür, Başak
    We investigate whether the COVID-19 pandemic initiated merger waves at the aggregate and industry levels. The COVID-19 pandemic coincides with economic shocks, wide adoption of new technologies, and volatility in stock and energy markets, all potential triggers of restructuring activity. Our sample covers 104,464 acquisition deals of US targets from 2012 to 2022. We identify 37 industry-level merger waves. Twenty-three merger waves start during the COVID-19 pandemic. Eighty percent of the deals during the pandemic were part of an industry merger wave. This concentration of industry waves drove an aggregate merger wave starting on April 2020.
  • Thumbnail Image
    ItemOpen Access
    Supply-chain corporate venturing through acquisition: key management team retention
    (Pergamon Press, 2012) Kiessling, T.; Harvey, M.; Moeller, M.
    Acquisitions are often used as a way to engage in corporate venturing. The value of these ventures tends to reside in the knowledge and capabilities of the key management team members who have and maintain key inter-organizational relationships. Because their knowledge and/or relationships may be tacit and therefore difficult to transfer, retaining the key managers in the acquired organization is often a critical issue for the human resource management of the acquiring organization. They are also frequently thought to be critical elements in the future performance in global supply chains and therefore, should be a key concern of human resource management after the acquisition has been culminated. Using a unique dataset of corporate acquisitions in supply-chains, we examine how the development of the psychological contract elements affects retention of critical key global managers. We find that higher retention of the key management team members leads to higher performance after acquisition. We also find that the development of the psychological contract has a positive impact on the retention of key managers with global supply-chain relations.