scholarly journals Impact of Cash Deals and Related Industry Merger on Synergies Gains: A Case of Indian M&A

2020 ◽  
Vol 4 (2) ◽  
pp. 99-117
Author(s):  
Anjala Kalsie ◽  
Neha Singh
Keyword(s):  
Regression Analysis ◽  
Empirical Analysis ◽  
Horizontal Mergers ◽  
Payment Method ◽  
Probit Regression ◽  
Classification Code ◽  
Instrument Variable ◽  
The Impact ◽  
The Empirical Analysis ◽  
Made In

A firm's financial attributes play an essential part in the merger decision. The present paper attempts to improve the existing literature on assessing M&A activity in Indian corporate. This research paper aims primarily to analyze the (a) Synergies realized when the mode of payment in the merger deal is cash, (b) impact on bidder liquidity when payment is made in cash (c) Synergies realized when both target and acquirer in the deal belong to related industry, i.e. the merger is horizontal and (d) assess the impact on bidder leverage when payment is made in equity. The paper has analyzed a panel of 120 major Indian M&A deals from 2005 to 2015, having three years of data pre and post-merger. Instrument Variable Probit Regression analysis has been employed in the study. The key results from the analysis show that in case of payment method in the deal being cash, M&A appears financially favorable for the bidder companies. The results of the empirical analysis of the study do support the generation of synergies in the case of horizontal mergers. The combined firm has also found to have lower liquidity for Indian Mergers & Acquisitions. Significant results have also been obtained for the leverage variables indicating fewer borrowings for the merged firm. JELL Classification Code: G34, C35, M41.                                      

ICT SMEs, Performance, Absorptive Capacity and Transformative Capacity

2019 ◽  
Vol 118 (3) ◽  
pp. 178-188
Author(s):  
Yeon-Sung Cho ◽  
Kyung-Il Khoe
Keyword(s):  
Firm Performance ◽  
Market Orientation ◽  
Empirical Analysis ◽  
Absorptive Capacity ◽  
Latent Variables ◽  
Equation Modeling ◽  
Transformative Capacity ◽  
The Impact ◽  
The Empirical Analysis ◽  
Innovative Capacity

This study intends to integrate the relationship of market orientation, innovative capacity and firm performance to Information and Communication Technology(ICT) SMEs. The purpose of this study is to identify the role of absorptive capacity and transformative capacity that affect the performance of ICT SMEs. Hypotheses were established between five latent variables. A total of six hypotheses were established including the moderated effects of absorptive capacity and transformative capacity. Of the data collected after the survey, 112 valid surveys were selected as the final sample, except for 17 questionnaires with high non - response and insincere response. The empirical analysis of this study used smartpls3.0, Partial Least Squares (PLS), a variance-based structural equation modeling. The empirical analysis of this study revealed that the impact of market orientation on innovative capacity was significant. Moreover, the innovative capacity had a positive effect on the performance of ICT SMEs. In addition, the absorptive activity had a positive moderated effect between the market orientation and the innovative capacity. On the other hand, the transformative capacity showed a positive moderated effect in relation to innovative capacity and firm performance. Our empirical results have demonstrated the importance of knowledge based capacity in the ICT SMEs.

Capital Structure and Earnings per Share: An Empirical Analysis of Indian Corporate Sector

2015 ◽  
Vol 5 (3) ◽  
Author(s):  
Harvinder Singh Mand ◽  
Manjit Singh
Keyword(s):  
Capital Structure ◽  
Empirical Analysis ◽  
Corporate Sector ◽  
Independent Variables ◽  
Earnings Per Share ◽  
Panel Data Regression ◽  
Data Regression ◽  
The Impact ◽  
The Relationship ◽  
The Empirical Analysis

This paper intends to measure the impact of capital structure on EPS (earnings per share) in Indian corporate sector. Fifteen control variables along with capital structure have been selected to know their impact on EPS. Panel data regression has been applied to establish the relationship among dependent and independent variables. It is found from the empirical analysis that the relation of capital structure with EPS has been statistically insignificant in Indian corporate sector among all specific industries except telecommunication industry. The results are consistent with Modigliani-Miller approach.

scholarly journals The Impact of Top Management’s Support on the Collaboration of Green Supply Chain Participants and Environmental Performance

2020 ◽  
Vol 12 (21) ◽  
pp. 9090
Author(s):  
Jungeun Lee ◽  
Hye-Young Joo
Keyword(s):  
Supply Chain ◽  
Empirical Analysis ◽  
Environmental Performance ◽  
Green Supply Chain ◽  
Top Management ◽  
Direct Impact ◽  
Theoretical Mechanism ◽  
The Impact ◽  
The Empirical Analysis

The purpose of this study is to determine whether the support of top management significantly improves the level of environmental collaboration with participating companies upstream and downstream of the green supply chain and the impact on environmental performance. The results of the empirical analysis of 301 companies that are establishing a green supply chain are as follows. First, top management’s support positively affects the level of collaboration with suppliers and customers in the green supply chain. Secondly, support from top management has a direct impact on the company’s environmental performance. Thirdly, the environmental collaboration of participating companies partially plays a mediation role between the support of top management and the environmental performance. This study has significance in that it analyzes the theoretical mechanism of top management’s support for environmental collaboration with participating companies, leading to environmental performance, and draws implications.

scholarly journals FINANCIAL CRISIS AND LOCAL BANKS: A REVIEW OF BANK-FIRM RELATIONSHIPS IN ITALY

2017 ◽  
Vol 14 (3) ◽  
pp. 249-258 ◽  
Author(s):  
Andrea Quintiliani
Keyword(s):  
Financial Crisis ◽  
Empirical Analysis ◽  
Research Question ◽  
Banking System ◽  
Relationship Lending ◽  
Critical Elements ◽  
Risk Return ◽  
The Impact ◽  
The Relationship ◽  
The Empirical Analysis

This paper focuses on bank-firm relationship in an economic deeply changing environment. The objectives of the paper are two-fold: to understand, compared to the overall banking system, if the lending activities and economic-financial performances of Italian local banks have changed after the outbreak of the financial crisis; and to understand what are the conditions that allow to develop a model of a local bank capable of supporting the development routes of SMEs, by an appropriate risk/return profile. In order to answer the first research question, the paper presented an empirical analysis, covering the period 2007-2011, of Italian Cooperative Credit Banks (a particular category of local banks) compared with the system of bank groups with operability spread over much of the Italian territory and not. The empirical comparative analysis has the aim to see the effects of the crisis on the relationship bank-firm through the reading of the impact on the dynamics of lending and on the profiles of structure, riskiness, profitability and efficiency of the banks under examination. In order to provide an answer to the second research question, the paper provides some insight of evolutionary nature reflection in the bank-firm relationship. In accordance with the doctrinal postulates of the relationship lending the empirical analysis shows how the financial then real crisis has not induced Cooperative Credit Banks to restrict credit to local firms. The survey evidences have however highlighted some critical elements that are reflected inevitably on the local bank’s risk-return profile. Based only on quantitative data of statement, the empirical analysis represents a limit in this kind of research. This paper is useful to stimulate the debate of experts as well as to focus on the studies of local banks in particular in the light of their anti-cyclic role. Even if abounding in subjects about local banks and relationship lending literature faces only marginally the effects of global crisis on business profiles of local banks.

Disaggregating Mediations: The Impact of Multiparty Mediation

2011 ◽  
Vol 41 (4) ◽  
pp. 859-881 ◽  
Author(s):  
Tobias Böhmelt
Keyword(s):  
Conflict Resolution ◽  
Empirical Analysis ◽  
Third Party ◽  
Multiparty Mediation ◽  
History Of ◽  
Shared Culture ◽  
Using Data ◽  
The Impact ◽  
The Empirical Analysis ◽  
Mediation Effectiveness

This article disaggregates coalitions of third-party mediators and examines their effectiveness in interventions. First, it is argued that there is an inverted U-shaped relationship between the size of a mediating coalition and mediation effectiveness. Secondly, mediators sharing a history of conflict and distrust will transfer their past relationships to a mediation attempt, making it less effective. Consequently, states sharing friendly and co-operative ties with each other are more successful in managing conflicts. Finally, a coalition of mediators that is largely democratic should be more effective due to a shared culture of peaceful conflict resolution, inclusivity and increased communication flows. The empirical analysis using data from the Issues Correlates of War Project for 1965–2000 largely provides support for the theory.

scholarly journals Ethnicity and Conflict: An Empirical Study

2012 ◽  
Vol 102 (4) ◽  
pp. 1310-1342 ◽  
Author(s):  
Joan Esteban ◽  
Laura Mayoral ◽  
Debraj Ray
Keyword(s):  
Empirical Study ◽  
Public Goods ◽  
Empirical Analysis ◽  
Group Cohesion ◽  
The Impact ◽  
The Empirical Analysis ◽  
Ethnic Distribution ◽  
Conflict Intensity ◽  
Country Specific

We examine empirically the impact of ethnic divisions on conflict, by using a specification based on Esteban and Ray (2011). That theory links conflict intensity to three indices of ethnic distribution: polarization, fractionalization, and the Gini-Greenberg index. The empirical analysis verifies that these distributional measures are significant correlates of conflict. These effects persist as we introduce country-specific measures of group cohesion and of the importance of public goods, and combine them with the distributional measures exactly as described by the theory. (JEL D63, D74, J15, O15, O17)

scholarly journals The Empirical Analysis to Enhance Taiwanese Satisfaction in Buying Vietnam coffee

2017 ◽  
Vol 6 (3) ◽  
pp. 274
Author(s):  
Thi Nham Le ◽  
Chia Nan Wang ◽  
Ying Fang Huang
Keyword(s):  
Decision Making ◽  
Factor Analysis ◽  
Regression Analysis ◽  
Customer Satisfaction ◽  
Reliability Analysis ◽  
Empirical Analysis ◽  
Exploratory Factor Analysis ◽  
Integrated Approach ◽  
The World ◽  
The Empirical Analysis

<span lang="EN-US">Vietnam coffee industry has been well-known over the world for many decades. However, Vietnam products do not meet Taiwan customers’ expectation, it has lead to urgent challenges for the industry. Therefore, the paper proposed the integrated approach by using exploratory factor analysis, reliability analysis and regression analysis. The results of this study were used to <a name="OLE_LINK175"></a><a name="OLE_LINK174"></a>formulate and recommend on how to improve the products of Vietnam coffee by using SPSS statistics for analysis. The major findings of this paper was found out that there are six important determinants of Taiwanese decision-making in buying coffee. In order to enhance customer satisfaction with the coffee products from Vietnam, the companies need right strategies to improve these six groups of factors. The paper contributes meaningful and helpful results to the development of Vietnam coffee industry.</span>

scholarly journals The impact of immigrants' educational attainment on employment in agricultural, industrial, and services sectors in oecd

2018 ◽  
Vol 40 (1) ◽  
pp. 16-27
Author(s):  
Monika Didžgalvytė ◽  
Violeta Pukelienė ◽  
Ausra Speer
Keyword(s):  
Regression Analysis ◽  
Educational Attainment ◽  
Empirical Research ◽  
Empirical Analysis ◽  
Method Of Moments ◽  
Agricultural Sector ◽  
Generalized Method Of Moments ◽  
Descriptive Statistics ◽  
Skilled Immigration ◽  
The Impact

This article analyzes the impact of immigrants' educational attainment on employment in agricultural, industrial, and services sectors. The research compares data of OECD-20 countries in the period of 1980–2010. The goal of the paper is to analyze the theoretical interpretations of immigration and employment; to measure the impact of immigrants' educational attainment on employment by carrying out an empirical research in selected countries. Empirical analysis has been performed using the methods of descriptive statistics, correlation, regression analysis and System Generalized Method of Moments (GMMs). The results of the empirical research regarding the impact showed that high-skilled immigration has a positive and statistically significant impact on employment in industrial and services sectors, but the impact on employment in the agricultural sector is statistically insignificant. Medium-skilled immigration has a positive and statistically significant effect on employment in all three sectors. However, low-skilled immigration has no effect on employment in either agricultural, industrial or services sectors.

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