دانلود رایگان مقاله لاتین اختلاف اقتصاد ملی از سایت الزویر
عنوان فارسی مقاله:
اختلاف اقتصاد ملی و تفکیک پذیری مالکیت مرزی
عنوان انگلیسی مقاله:
National economic disparity and cross-border acquisition resolution
سال انتشار : 2016
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مقدمه انگلیسی مقاله:
1. Introduction
As the volume of mergers and acquisitions (M&As) has grown sharply over the last several decades, studies of these transactions have been actively conducted in the fields of management and finance (Haleblian, Devers, McNamara, Carpenter, & Davison, 2009; Porzio, 2015). Moreover, the acceleration of globalization after the first decade of the 21st century and the widespread use of cross-border acquisition as the most significant foreign direct investment (FDI) vehicle have spurred scholars to extend their attention to cross-border acquisitions (e.g., Di Giovanni, 2005; Dikova, Rao Sahib, & van Witteloostuijn, 2010; Very & Schweiger, 2001; Zander & Zander, 2010). Such attempts have formed an emerging and promising body of research in international business, which delves into the consequences of country-level differences. However, most studies on acquisitions, regardless of the geographic context, have focused on completed deals, as scholars are primarily interested in the post-acquisition outcomes of the firms involved (Datta, Pinches, & Narayanan, 1992; King, Dalton, Daily, & Covin, 2004). However, the share of acquisitions abandoned after a public announcement amounts to as high as 25% (Holl & Kyriaziz, 1996), as the acquirer maintains rights to renegotiate and withdraw the offer after an announcement (Puranam, Powell, & Singh, 2006). Nonetheless, research on abandoned transactions is scarce. Recently, scholars have begun to investigate the factors behind persistence (i.e., completion) or withdrawal (i.e., abandonment) of acquisition deals by approaching them from various theoretical angles and levels of analyses. For instance, the national environment, such as institutional, political, or cultural conditions (e.g., Dikova et al., 2010; Popli, Akbar, Kumar, & Gaur, 2016; Zhang & He, 2014; Zhang, Zhou, & Ebbers, 2011), and firm characteristics, such as prior experience or strategic compatibility (e.g., Dikova et al., 2010; Meyer & Altenborg, 2008; Muehlfeld, Rao Sahib, & Van Witteloostuijn, 2012), are revealed as significant predictors of acquisition completion. Given the continuing spread of acquisitions across the world, especially in cross-border contexts (Bolger, 2014), we believe there is much left to explore in this phenomenon. Several studies examine the impacts of national factors on organizational behaviors and performance in a cross-border acquisition context; for example, economic characteristics (Berry, Guillén, & Zhou, 2010; Di Giovanni, 2005; Tsang & Yip, 2007), political conditions (Zhang et al., 2011), institutions (Dikova et al., 2010; Pablo, 2009; Rossi & Volpin, 2004), and culture (Chakrabarti, Gupta-Mukherjee, & Jayaraman, 2009; Kogut & Singh, 1988; Morosini, Shane, & Singh, 1998; Popli et al., 2016) are suggested as important factors. Because one of the provocative inquiries in this stream of literature is the role of country differences in acquisitions, this paper seeks to explore the effects of national economic discrepancy on two consequences of cross-border acquisitions (Dikova et al., 2010): deal resolution (completion versus abandonment) and deal duration (time elapsed between announcement and completion).
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کلمات کلیدی:
Mergers and Acquisitions in Europe: Selected Issues and Jurisdictions https://books.google.com/books?isbn=9041136533 Dennis Campbell - 2011 - Law In a crossborder deal, escalation clauses can be highly advantageous. ... for a carve-out clause when there is disparity between the types of disputes that may arise. Expert determination is the most common dispute resolution mechanism used ... Recent International Business Review Articles - Elsevier https://www.journals.elsevier.com/international-business-review/recent-articles Offshoring, local market entry, and the strategic context of cross-border alliances: The .... National economic disparity and cross-border acquisition resolution. Cross-border resolution regimes: Game-theoretic considerations ... voxeu.org/article/cross-border-resolution-regimes-game-theoretic-considerations Apr 30, 2016 - Cross-border resolution regimes for global banks: Single versus .... the acquisition of local retail banks, which continue to operate with local ... [PDF]Performance of domestic and cross-border acquisitions - EBRD www.ebrd.com/downloads/research/economics/workingpapers/WP0129.pdf by O Bertrand - Cited by 80 - Related articles American firms. In general, cross-border acquisitions largely remain under-explored compared to domestic .... Disparities in the performance of acquirers are also expected across industries. ... acquirers can only be resolved empirically. 13 ... The Europeanisation of Conflict Resolutions: Regional Integration ... https://books.google.com/books?isbn=0719083397 Boyka Stefanova - 2011 - HISTORY The institutional logic of conflict resolution: EU-related mechanisms in local, ... and Ireland government representatives discussed cross-border cooperation and security. The EU economic homogenisation and redistribution policy tools acquired ... disparities and conflict legacies based on accommodation, local ownership, ... [PDF]Cross-Border Mergers & Acquisitions - Communicaid https://www.communicaid.com/.../Cross-Border-Mergers-Acquisitions_Reducing-the-... Research into companies involved in cross-border mergers and acquisitions, however, points to failure rates ... External challenges such as a disparity in attitudes to issues such as corporate governance, ... long they will take to resolve.
