Creditor Rights, Claims Enforcement, and Bond Returns in Mergers and Acquisitions

2016 ◽  
Author(s):  
Luc Renneboog ◽  
Peter G. Szilagyi ◽  
Cara Vansteenkiste
Keyword(s):  
Mergers And Acquisitions ◽  
Creditor Rights ◽  
Bond Returns

scholarly journals Creditor rights, claims enforcement, and bond performance in mergers and acquisitions

2017 ◽  
Vol 48 (2) ◽  
pp. 174-194 ◽  
Author(s):  
Luc Renneboog ◽  
Peter G. Szilagyi ◽  
Cara Vansteenkiste
Keyword(s):  
Mergers And Acquisitions ◽  
Creditor Rights ◽  
Bond Performance

Inside Debt and Mergers and Acquisitions

2014 ◽  
Vol 49 (5-6) ◽  
pp. 1365-1401 ◽  
Author(s):  
Hieu V. Phan
Keyword(s):  
Mergers And Acquisitions ◽  
Stock Returns ◽  
Risk Taking ◽  
Chief Executive ◽  
Wealth Transfer ◽  
Inside Debt ◽  
Bond Returns ◽  
Abnormal Stock Returns ◽  
Corporate Risk

AbstractI empirically investigate the relation between chief executive officer (CEO) inside debt holdings and mergers and acquisitions (M&As), and find evidence consistent with the agency theory’s prediction of a negative relation between CEO inside debt holdings and corporate risk taking. Further analysis shows that CEO inside debt holdings are positively correlated with M&A announcement abnormal bond returns and long-term operating performance, but negatively correlated with M&A announcement abnormal stock returns. Finally, I find evidence that acquirers restructure the postmerger composition of CEO compensation that mirrors their capital structure in order to alleviate incentives for wealth transfer from shareholders to bondholders or vice versa.

Mergers and Acquisitions: Sharing Lessons Learned

2011 ◽  
Author(s):  
Robin R. Cohen ◽  
Kim Stepanski ◽  
Miriam Ort ◽  
Eryn A. O'Brien
Keyword(s):  
Mergers And Acquisitions ◽  
Lessons Learned

Protecting yourself: Due diligence in mergers and acquisitions

2002 ◽  
Vol 13 (2) ◽  
pp. 17
Author(s):  
A. Carr Conway ◽  
Robert W. Rouse
Keyword(s):  
Mergers And Acquisitions ◽  
Due Diligence

Russia’s Market of Mergers and Acquisitions: Stages, Features and Prospects

2009 ◽  
pp. 23-45 ◽  
Author(s):  
A. Radygin
Keyword(s):  
Open Access ◽  
Mergers And Acquisitions ◽  
Corporate Control ◽  
Active Role ◽  
Data Bases ◽  
2008 Financial Crisis ◽  
Legal Norms ◽  
Role Of The State ◽  
Access Data

The article deals with key tendencies in the development of Russia’s market of mergers and acquisitions in the first decade of the 21st century. Quantitative parameters are analyzed by using available in the open access data bases for the years 2003-2008 taking into consideration new tendencies relating to 2008 financial crisis. An active role of the state played in the market of corporate control represents an important factor. Special attention is given to issues of development of Russia’s system of legal norms regulating the market of mergers and acquisitions.

Mergers and Acquisitions Financing: The Russian Case

2007 ◽  
pp. 85-96 ◽  
Author(s):  
I. Kasparova
Keyword(s):  
Stock Market ◽  
Mergers And Acquisitions ◽  
Low Cost ◽  
Corporate Control ◽  
Main Role ◽  
Western Countries ◽  
Business Market

The article considers the financial tools of corporate control transfers and mergers and acquisitions financing forms. In western countries tax and informative factors are more important, but in the Russian business market lack of development of the stock market and low cost of securities of Russian companies play the main role. The analysis has shown that in Russia the monetary form of M&A financing dominates over other financing forms (90% of reviewed cases), still there are individual cases of M&A financing by buying company’s shares (10% of reviewed cases).

Relationship between Cross-Border Mergers and Acquisitions and International Trade: The Case of Russian Pharmaceutical Industry

2020 ◽  
pp. 81-94
Author(s):  
Alexandra V. Chugunova ◽  
Olga A. Klochko
Keyword(s):  
International Trade ◽  
Mergers And Acquisitions ◽  
Volume Growth ◽  
Pharmaceutical Products ◽  
Pharmaceutical Companies ◽  
Cross Border ◽  
Export Volume ◽  
Relationship Of ◽  
Geographical Diversification ◽  
The Relationship

This research studies the relationship of cross-border mergers and acquisitions to international trade through the lens of Russian pharmaceutical market. To this aim, the study analyses the woks of foreign economists dedicated to evaluating the link between foreign direct investment and international trade, and the influence of mergers and acquisitions on countries’ export and import flows. The research also presents a correlation analysis between the volume of Russian pharmaceutical exports and imports and cross-border deals performed by foreign pharmaceutical companies in Russia. We characterize these deals and conduct a comparative analysis of the regional structure of Russian pharmaceutical exports and imports as well as of the countries of origin of buyers in cross-border mergers and acquisitions. The results of the analysis indicate a positive relationship between cross-border mergers and acquisitions and Russian pharmaceutical exports, which is reflected in the export volume growth and its geographical diversification. However, it is outlined that particular problems of the industry hinder the amelioration of Russian positions in international exports. Similarly, the relationship between cross-border deals and Russian imports is positive: the major pharmaceutical products supply flow occurs from the countries of origin of buyers in cross-border mergers and acquisitions conducted in the Russian pharmaceutical sector.

The Transformation and Survival of Fortune 500 Industrial Corporations through Mergers and Acquisitions, 1981-1995

2001 ◽  
Vol 42 (3) ◽  
pp. 461-486
Author(s):  
Mary Zey ◽  
Tami Swenson
Keyword(s):  
Mergers And Acquisitions ◽  
Fortune 500

Mergers And Acquisitions In Corporate Sector

2012 ◽  
Vol 1 (4) ◽  
pp. 97-99
Author(s):  
Dr. M. Venkatasubba Reddy ◽  
◽  
B. Swetha B. Swetha ◽  
T. Srinivasaroa T. Srinivasaroa
Keyword(s):  
Mergers And Acquisitions ◽  
Corporate Sector
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