Service Sector Versus Nonservice Sector EMNCs: Asset-Seeking Cross- Border Acquisition Performance

2020 ◽  
Vol 2020 (1) ◽  
pp. 19692
Author(s):  
Sathyajit Gubbi
Keyword(s):  
Service Sector ◽  
Acquisition Performance ◽  
Cross Border

Post-acquisition control strategy and cross-border acquisition performance of Chinese MNEs: a fsQCA approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Qi Yue ◽  
Ping Deng ◽  
Yanyan Cao ◽  
Xing Hua
Keyword(s):  
Fuzzy Set ◽  
Control Strategy ◽  
Multinational Enterprises ◽  
Cultural Distance ◽  
Emerging Market ◽  
Complex Nature ◽  
Acquisition Performance ◽  
Content Type ◽  
Cross Border ◽  
Chinese Mnes

PurposePost-acquisition control is a crucial factor affecting acquisition performance. We investigate how post-acquisition control strategy affects cross-border acquisition performance of Chinese multinational enterprises (MNEs) through a configurational perspective.Design/methodology/approachBased on 70 cross-border acquisition cases by Chinese MNEs, we adopt fuzzy-set qualitative comparative analysis (fsQCA) to study the combined effects of strategic control, operational control, institutional distance, cultural distance, relative capacity and business relatedness on the cross-border acquisition performance.FindingsOn the basis of fuzzy set analysis of multiple interdependent factors, we identify six configurations that are conductive to achieving high cross-border acquisition performance and two configurations that relate to the absence of high performance, thus shedding light on the casually complex nature of performance drivers of acquisitions.Originality/valueThis study provides a holistic, configurational approach to investigating cross-border acquisition performance by emerging market firms. Our results provide some compelling evidence that accounts for the causal complexity of post-acquisition control strategies and acquisition outcomes in the context of emerging economies.

Do frequent acquirers outperform in cross-border acquisitions? A study of Indian companies

2020 ◽  
Vol 30 (4) ◽  
pp. 491-514
Author(s):  
Samta Jain ◽  
Smita Kashiramka ◽  
P.K. Jain
Keyword(s):  
Operating Performance ◽  
Financial Statements ◽  
Acquisition Performance ◽  
Content Type ◽  
Acquisition Period ◽  
Cross Border ◽  
Acquiring Firms ◽  
The Impact ◽  
First Time

Purpose The purpose of this paper is to examine the impact of cross-border acquisitions (CBAs) on the financial and operating performance of acquiring firms from emerging economies in the long-term; the acquiring firms have been segregated into frequent (multiple) and first-time (single) acquirers based on their prior cross-border experience. The intent is to identify if overseas activities bring over and above advantage to multiple acquirers in terms of enhanced financial synergies and reduced costs, motivating them to engage in sequential international transactions. Design/methodology/approach The paper analyses the impact of CBAs announced and completed during 2004–2013 by Indian companies listed on the NIFTY 500 index. The post-acquisition financial and operating performance of Indian cross-border acquirers has been compared with their pre-acquisition performance. The average performance over three-years immediately preceding the acquisition year constitutes the benchmark for the post-acquisition performance. The post-acquisition period includes a year of integration followed by three successive post-integration years. Therefore, in operational terms, the research period extends from 2001–2017. The long-term performance of frequent (multiple) and first-time (single) Indian acquirers has been investigated comprehensively using a set of 16 financial ratios. The performance has been assessed using the secondary data collected from financial statements of acquiring companies; the financial statements and the list of CBAs by Indian companies have been obtained from Thomson Reuter’s EIKON database. Findings The financial and operating performance of frequent as well as first-time acquirers have depicted a similarly deteriorating trend during the post-acquisition period. These findings indicate that the international expansion of Indian companies is not guided by synergy creation potential and may be pushed by the overconfidence or over-optimism and agency conflicts of managers. This, perhaps, indicates that firms are being imprudent in investing free cash flows available with them. Originality/value The study is the first of its kind. No study, to the best of the authors’ knowledge, has analysed the performance of acquiring firms by segregating them into frequent and first-time acquirers using accounting measures of performance. More so, an extensive analysis of the long-term financial and operating performance of acquiring companies is rare to come across in the extant literature.

Acquisitions, Profitability, and Growth: A Study of Canadian Firms

2014 ◽  
Vol 15 (2) ◽  
pp. 98-117
Author(s):  
Igor Semenenko ◽  
Junwook Yoo
Keyword(s):  
United States ◽  
Precious Metals ◽  
The United States ◽  
High Tech ◽  
Improve Performance ◽  
Lower Growth ◽  
Acquisition Performance ◽  
Cross Border ◽  
Growth Prospects ◽  
Asset Size

Large acquisitions in the United States by Canadian firms lower growth prospects and profitability of Canadian companies. Results are driven by post-acquisition performance of the largest Canadian industries, including oil & gas, mining and precious metals, which together account for almost 40 percent of Canadian firms with asset size above 100 million reported in Compustat research files. Cross-border acquisitions of firms in high tech industries do not improve performance of Canadian firms.

scholarly journals Cross-border model of young personnel professional identity formation in Rostov region agro-industrial complex

2020 ◽  
Vol 210 ◽  
pp. 22018
Author(s):  
Svetlana Murzina ◽  
Sergey Timofeev
Keyword(s):  
Professional Identity ◽  
Identity Formation ◽  
Service Sector ◽  
Statistical Data ◽  
Educational Process ◽  
Internal Conflict ◽  
Industrial Complex ◽  
Cross Border ◽  
Rostov Region ◽  
Interdisciplinary Approaches

The article is devoted to the study of statistical data on the number of students in the agro-industrial direction in the Rostov region, their demand in the labor market in the conditions of cross-border educational process. The transformation of the education system into a service sector makes self-identification with the profession more difficult. Changes also occur in the system of values and norms of new generations of professionals, whose professional identification formed in the transitive period of the educational space. The considered interdisciplinary approaches to the definition of identity revealed difficulties in the interpretation of this phenomenon in pedagogy, the variety of semantic approaches existed. All these changes lead to the development of a new adaptive model of behavior among students, lack of misunderstanding by educational actors of the essence of the ongoing reforms in the education field and, as a result, the emergence of ineffective educational institutions. If a person identifies himself within the profession that he engaged in, then the efficiency of work, its usefulness will be much higher. Identity as an aspect of motivation will help to remove professional tension, internal conflict. Based on the processing of statistical data, a hypothesis that they have a professional identity proposed. The authors of the article put forward proposals to improve the level of professional identity of young professionals on the base of cross-border model.

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