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The Acquirer and the Performance of Targets in Partial Acquisitions

 

Marketed By :  LAP LAMBERT Academic Publishing   Sold By :  Kamal Books International  
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  • Product Description
 

Determinants of the value of acquired firms were further examined by analyzing the effect of corporate governance and other characteristics of Japanese and US acquirers on the long-term performance of their US targets during period when both US and Japanese economies experienced superior and poor performances. Bidder–target relationship in general and the role of unique Japanese characteristics (keiretsu, cross-holding, ties to a main bank, negligible shareholding, latitude and long-term focus of managers) were studied. The debate whether unique characteristics of the Japanese governance system make it more efficient than market based one in the US, or lead to greater agency problem, developed in the early 1990s following the slowdown in the US and boom in the Japanese economy. In this study better managed bidders, regardless of country of origin, with more resources were found to positively affect the performance of smaller targets in related industries. The mixed results for the Japanese governance variables, predicted positive for the main bank and unexpected negative for the keiretsu and cross-holding, do not allow a clear-cut answer as to which governance system is dominant.

Product Specifications
SKU :COC62827
AuthorStanko Racic
LanguageEnglish
BindingPaperback
Number of Pages136
Publishing Year2013-05-25T00:00:00.000
ISBN9783659303166
Edition1 st
Book TypeBanking & finance: study & revision guides
Country of ManufactureIndia
Product BrandLAP LAMBERT Academic Publishing
Product Packaging InfoBox
In The Box1 Piece
Product First Available On ClickOnCare.com2015-07-08 00:00:00
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