Acquisitions by emerging multinational corporations : motivation and performance of transactions in Western Europe and North America
Author(s)
Bibliographic Information
Acquisitions by emerging multinational corporations : motivation and performance of transactions in Western Europe and North America
（Schriften zum europäischen Management / herausgegeben von / edited by Roland Berger, School of Strategy and Economics）（Research）
Springer Gabler, c2018
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Note
Originally presented as the author's thesis (doctoral)--Universität Bayreuth, 2016
Includes bibliographical references (p. 387-429)
Description and Table of Contents
Description
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.
Table of Contents
Prior research on EMNCs and their M&A activity.- Event studies as a research method for measuring M&A performance.- Acquisition motivation and performance of EMNCs in Western Europe and North America.
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