Authors: Neelam Rani, Surendra Singh Yadav, Pramod Kumar Jain
The book examines the market reaction to mergers and acquisitions (M&A) announcements over a period from 2003 to 2015. Mergers and acquisitions continue to be amongst the preferred competitive options available to the companies seeking to grow fast in the rapidly changing global business scenario. M&A as a growth strategy has received attention from developed as well as emerging economies. It has been extensively used by managers as an expansion strategy and also serves as an important instrument for increasing corporate efficiency. Recently, M&A has grown at a rapid pace, creating a need for research to analyze what drives this phenomenon and how it affects firms and markets. As such, this book evaluates the impact of M&A on short-term abnormal returns as well long-term financial performance. It also assesses the management view concerning the motives for undertaking M&A. In addition, the book investigates the corporate governance practices of the acquiring firms and their impact on the short- term as well as long- term performance of those firms.
Table of contents
Mergers and Acquisitions: An Introduction
Research Methodology
Short-Term Performance of Mergers and Acquisitions
Financial Performance Analysis of Mergers and Acquisitions
Survey of Management View on Motives for Mergers and Acquisitions
Development of Corporate Governance Index
Impact of Corporate Governance Score on Abnormal Returns and Financial Performance
Summary and Conclusions