The Russian Market of Mergers and Acquisitions

Servis plus ◽  
10.12737/2800 ◽  
2014 ◽  
Vol 8 (1) ◽  
pp. 76-83
Author(s):  
Марина Фролова ◽  
Marina Frolova
Keyword(s):  
Mergers And Acquisitions ◽  
Global Financial Crisis ◽  
Market Value ◽  
Global Market ◽  
State Regulation ◽  
Corporate Management ◽  
Russian Market ◽  
Brics Countries ◽  
The Usa ◽  
The Global Financial Crisis

The article investigates the trends in the Russian market of mergers and acquisitions (M&A) over the last decade. It provides a list of problematic aspects of the legislation of the Russian Federation in the sphere of state regulation of financial markets, the methodology of evaluation and corporate management affecting the number of transactions and the global market. The article analyses the dynamics in the number and value of deals of the Russian market of mergers and acquisitions in the period from 2003 to 2012. The author compares the value of Russian, USA and European markets during the analyzed period. The comparison involves the dynamics of the share of the Russian market and the market share dynamics in Europe, the USA and other countries in the framework of global mergers and acquisitions market. The article defines the similarities that M&A market trends in Russia, USA and Europe show and the discrepancies between the peak and trough periods for the Russian market value and for the market value of other countries, especially the BRICS countries. The article also researches the Russian market and sample Russian industry markets during the global financial crisis of 2008, in the immediately preceding and the following years. The peculiarities of the Russian market are identified, as well as the trends similar to those identified and described in the American research methodology in markets of mergers and acquisitions, with the research aiming at the selection of target companies that maximize the value of the acquiring company.

Analysis of the russian market of mergers and acquisitions

2020 ◽  
pp. 58-63
Author(s):  
R. O. Voskanian
Keyword(s):  
Mergers And Acquisitions ◽  
Negative Impact ◽  
Global Market ◽  
Economic Situation ◽  
Russian Market ◽  
Russian Economy ◽  
Current Economic Situation ◽  
The Subject ◽  
Linear Decline

The subject of the research is the Russian market of mergers and acquisitions in the period from 2009 to 2019. The author has examined the economic essence of mergers and acquisitions, analysed the number of transactions of both types on the Russian market. The article analyses foreign participation in the Russian market of mergers and acquisitions reveals a tendency to its linear decline from 2011 to the present. Also were identified three sectors of the Russian economy leaders in the number of target companies (banks, agriculture, transport and infrastructure). A conclusion has been formulated on the negative impact of the current economic situation on the Russian and global market for mergers and acquisitions, suggesting a decrease in the number and amount of mergers and acquisitions in the coming years.

scholarly journals Unexpected corporate outcomes from hedge fund activism in Japan

2018 ◽  
Vol 18 (1) ◽  
pp. 31-52 ◽  
Author(s):  
John Buchanan ◽  
Dominic H Chai ◽  
Simon Deakin
Keyword(s):  
Corporate Governance ◽  
Global Financial Crisis ◽  
Hedge Fund ◽  
Management Effectiveness ◽  
Managerial Decisions ◽  
Country Level ◽  
The Usa ◽  
Market Perception ◽  
Hedge Fund Activism ◽  
The Global Financial Crisis

Abstract Hedge fund activism has been identified in the USA as a driver of enduring corporate governance change and market perception. We investigate this claim in an empirical study to see whether activism produced similar results in Japan in four representative areas: management effectiveness, managerial decisions, labour management and market perception. Experience from the USA would predict positive changes at Japanese target companies in these four areas. However, analysis of financial data shows that no enduring changes were apparent in the first three areas, and that market perception was consistently unfavourable. Our findings demonstrate that the same pressures need not produce the same results in different markets. Moreover, while the effects of the global financial crisis should not be ignored, we conclude that the country-level differences in corporate governance identified in the varieties of capitalism literature are robust, at least in the short term.

Research on China Cross-border E-commerce Development Strategy under the Background of Trade Facilitation

2021 ◽  
Vol 1 (1) ◽  
pp. 41-49
Author(s):  
Xiang LIU ◽  
Shu LU
Keyword(s):  
Development Strategy ◽  
Global Financial Crisis ◽  
Global Market ◽  
Chinese Government ◽  
Market Demand ◽  
Growth Trend ◽  
Trade Facilitation ◽  
Environmental Support ◽  
Cross Border ◽  
The Global Financial Crisis

The main purpose of trade facilitation is to simplify trade processes, reduce trade costs, and improve policy transparency. Affected by the global financial crisis, global market demand is insufficient, and China's foreign trade growth is weak, while cross-border e-commerce is thriving, showing a gratifying growth trend. The qualitative and quantitative leap of cross-border e-commerce is inseparable from the macro-environmental support and influence of my country's social development. Chinese government departments should actively participate in relevant meetings and project negotiations of international organizations, establish friendly exchanges and cooperative relations with other countries, and achieve tax incentives and credit Negotiation and coordination mechanisms for system construction cooperation, data security, cybercrime, etc., to seek more convenient and efficient border management

Globalization should be what states make of it

2021 ◽  
Author(s):  
◽  
Régis Le Moguédec
Keyword(s):  
Global Economy ◽  
Political Action ◽  
Global Financial Crisis ◽  
International System ◽  
State Intervention ◽  
Global Market ◽  
Financial Deregulation ◽  
The Great Depression ◽  
Public Money ◽  
The Global Financial Crisis

<p>A significant factor that prevented the Global Financial Crisis (GFC) from becoming as calamitous as the Great Depression of 1929, is the fact that states reacted swiftly to inject massive sums of public money to save the banks and the global financial system.  This massive state intervention highlighted the limits of the progressive deregulation of the international system which characterized the process of globalization. It showed that states had huge responsibilities in keeping the global economy afloat, albeit without a clear compass or direction. The apparent ‘anarchy’ of the global market system makes conceivable that, to paraphrase A. Wendt, “globalization should be what states make of it”.  Limiting the scope of study to the postmodern state, and looking at the discourse surrounding the globalization process that promotes de-regulation and limited government within a ‘neo-liberal paradigm’ it looks at the ‘democratic deficit’ which weakens the political decision-making process. If not yet a ‘paradigm shift’, the GFC has many ingredients of a crisis of capitalism which needs to re-invent itself, and political action is crucial to curb the excesses of finance. Looking at France, and the election of Francois Hollande on a strong ‘anti-finance’ platform in 2012 and its European Union dimension, it remains to be seen if that kind of shift will actually be able to operate and be successful to set the tone for global reforms.  In conclusion, the core argument is that the global ‘trial’ of the neoliberal paradigm and the concept of financial deregulation should now enter a new phase. It is historically and symbolically the defeat of the self-regulating markets as a blueprint for global prosperity. The present structures are inadequate, and states have to find new ways for cooperation in order to steer this integrated world towards greater cohesion.</p>

Sun, wind, rain and the sewer: outward form opportunities in a degraded landscape

2009 ◽  
Vol 13 (3-4) ◽  
pp. 285-294
Author(s):  
Timothy Stenson
Keyword(s):  
Carbon Dioxide ◽  
Financial Crisis ◽  
Housing Market ◽  
Global Financial Crisis ◽  
Good News ◽  
The Us ◽  
The Usa ◽  
And Performance ◽  
The Global Financial Crisis

The US housing market is infamous on at least two counts: implicated in the global financial crisis and notorious for its unsustainable consumption of resources and consequent discharge of carbon dioxide. Lately anything like good news regarding housing in the USA is scarce. However, the pause resulting from the collapse of the market, and increasing concern regarding building's agency in the environment, combine to provide an opportunity to reconsider the form and performance of housing. This may yet create an opening for design.

Significance of BRICS: Regional Powers, Global Governance, and the Roadmap for Multipolar World

2018 ◽  
Vol 4 (2) ◽  
pp. 182-191 ◽  
Author(s):  
Sudip Chakraborty
Keyword(s):  
Global Governance ◽  
Global Economy ◽  
Global Financial Crisis ◽  
Governance Structure ◽  
Regional Powers ◽  
Political Issues ◽  
Emerging Nations ◽  
The Usa ◽  
Distribution Of Power ◽  
The Global Financial Crisis

The article justifies the optimism of new global order. The global financial crisis that had erupted in the USA during 2008 battered the global economy. The disaster paved the way for rethinking on changes in the architecture of global governance. The fragile political and economic global situation triggered by the crisis led to emergence of regional power confederacy, particularly within the developing world. Consequently, the importance of Brazil, Russia, India, China, and South Africa (BRICS) within the global governance structure has gone up. The steady emergence of BRICS in global politics has been mainly based on their excellent economic performances. This development on economic front coincides with increasing cooperation and coordination and formulating common positions on global political issues. BRICS, as a united entity, is expected to shape global governance in the twenty-first century. The influence already demonstrated by these emerging nations will surely continue to redistribute the balance of power in international financial institutions in favor of developing nations. Although the future of BRICS cannot be predicted with certainty, its combined efforts and the results of its meetings thus far reflect the potential of the group of emerging nations to change the existing distribution of power around the globe.

Housing markets and policy in the UK and the USA

2014 ◽  
Vol 7 (1) ◽  
pp. 129-144 ◽  
Author(s):  
Colin Jones ◽  
Harry W. Richardson
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Home Ownership ◽  
House Price ◽  
Housing Markets ◽  
Detailed Comparison ◽  
Exogenous Shock ◽  
Content Type ◽  
The Usa ◽  
The Global Financial Crisis

Purpose – This paper aims to examine how the exogenous shock of the global financial crisis has had a differential impact on the housing markets of the USA and UK. Design/methodology/approach – The paper begins by examining the nature and dynamics of the global financial crisis. It presents a detailed comparison of institutional and housing market characteristics in each country. A particular focus is the differences in mortgage funding and subprime lending trends over the decade leading up to the financial crisis. Findings – The analysis demonstrates the distinctiveness of the recent housing cycles and the geography of the downward price adjustments. Relative unemployment rates play a key role in these outcomes. Despite the different dynamics of the boom and bust, there is a common legacy in terms of the collapse of house building, repossessions/foreclosures and falling home ownership rates. The short-term policy responses by both governments addressed the same target issues in alternative ways but with different outcomes. Longer-term solutions are still being debated in both countries. Originality/value – Innovatory insights are provided by the comparison of the sub-national spatial pattern of the recent house price cycle in two countries.

scholarly journals Potential Competitiveness of Pound in Post-Crisis World

2020 ◽  
Vol 64 (12) ◽  
pp. 44-53
Author(s):  
A. Kuznetsov
Keyword(s):  
Global Financial Crisis ◽  
International Monetary System ◽  
Relative Size ◽  
External Debt ◽  
Foreign Companies ◽  
Monetary System ◽  
International Currencies ◽  
The World ◽  
The Usa ◽  
The Global Financial Crisis

The author discusses the factors and trends that determine the British pound’s competitive position in various segments of the international monetary system. Despite the devaluation effect caused by Brexit, the pound is still the most expensive of the key international currencies. On the one hand, this is due to the fact that the ratio of the British pound monetary aggregate M1 to GDP is significantly lower than that of other major economies – issuers of reserve currencies. Thus, the pound has the lowest monetary risk of depreciation compared to other currencies. On the other hand, the international significance of the pound sterling is explained by the ability of British economy to service the huge external debt, which in relative size is the largest among the leading economies of the world. This state of affairs is achieved due to the fact that London is home to the largest number of foreign companies in the world that carry out operations in various Eurocurrencies, acting simultaneously as the main issuers of external debt obligations. The attractiveness of the pound sterling as the currency for the nomination of international debt instruments is due to the less risky currency profile of the pound sterling, as well as the relatively higher profitability of debt instruments. After the global financial crisis, the share of the pound in the official reserves of other countries and in the implementation of international payments is gradually increasing. The author comes to the conclusion about the possible strengthening of the future role of the pound as a stabilizer of international economic relations against the backdrop of an increase in unpredictable events taking place on both sides of the Atlantic such as fiscal crisis of the euro area, Brexit, the growing political tension in the USA, COVID 19. These events are increasingly threatening leading positions of the US dollar and the euro as the key international currencies.

scholarly journals Global Risk Diversification: An Empirical Investigation From The U. S. Perspective

2011 ◽  
Vol 10 (8) ◽  
pp. 57
Author(s):  
H. Christine Hsu
Keyword(s):  
Stock Markets ◽  
Global Financial Crisis ◽  
Global Market ◽  
Asia Pacific ◽  
Global Risk ◽  
Risk Diversification ◽  
Gold Silver ◽  
Portfolio Managers ◽  
The Global Financial Crisis ◽  
The U.S

The case for global risk diversification has been built on correlations between the U.S. and international stock markets. Now that we witness how tightly the world stock markets are correlated, especially after the global financial crisis of 2008-2009, does it still make sense to diversify globally? Can the investments in global equity portfolios be protected in todays volatile markets? These questions have preoccupied a growing number of portfolio managers in recent years, as well as many of us who invest in stock markets. Since gold/silver and bonds tend to move inversely with the stock markets, a hedging strategy of combining them with stock portfolios should protect the equity investments during global market downturns. The study explores the risk-return profiles of various global portfolios and provides insights about the extent to which the U.S. investors need to allocate their investments in Asia/Pacific, European stock markets, and across other investment vehicles, such as gold/silver and bonds. The findings from this research have practical implications for both investors and portfolio managers interested in going global.

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