No description available.

Thesis (LL.M.)--University of Alberta, 1997. / In partial fulfilment of the requirements for the degree of Master of Laws. Faculty of Law. Also available online.

published_or_final_version / abstract / Business / Master / Master of Philosophy

published_or_final_version / Economics and Finance / Doctoral / Doctor of Philosophy

No description available.

Thesis (M.M. (Finance & Investment))--University of the Witwatersrand, Faculty of Commerce, Law and Management, Graduate School of Business Administration, 2013. / This study re-examines post-acquisition performance of acquiring firms in South Africa using Economic Value Add (EVA). Investigation of the 336 acquisitions occurring during 2000 to 2011 reveals that acquiring firms experience significantly deteriorating EVA after the completion of acquisitions. Further, this study evaluates the performance of other traditional accounting measures including Earning per share (EPS), Return on capital (ROC), Return of Assets (ROA) and Return on Equity (ROE) post acquisition. The results suggest that acquiring firms tend to experience slightly improved performance after completion of the acquisitions when using traditional accounting measures. But the improved operating performance is wiped out by capital costs of the large premiums paid to the target firm, creating no real economic gains to the acquiring firm‘s shareholders

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the requirements for the degree of Master of Management in Finance and Investment, June 2016 / This study examines long-term performance of publicly-listed South African acquiring firms that participated in Merger and Acquisition transactions. In an effort to close the gap in South African literature of long-term M&A performance, the study used key financial ratios in calculating the change of financial position before and after each M&A transaction or in other words, before and after the 2007 recession. The sample included 10 acquiring companies that performed 18 acquisitions during the period, 2007 and 2009. Subsequently, accounting performance in the form of Profitability, Efficiency, Liquidity, Leverage/Solvency and Investment ratios, were then analysed three years before and after each M&A transaction. Furthermore, the Paired Comparison Test was used to test for significant differences in ratios, between pre- and post-M&A performance of each acquirer. The results suggest that overall, Mergers and Acquisitions do not significantly improve financial performance of South African acquirers after each M&A transaction. / GR2018

Yan Li. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2004. / Includes bibliographical references (leaves 72-75). / Abstracts in English and Chinese. / Abstract --- p.i / Table of Contents --- p.iii / Chapter Chapter 1. --- Introduction --- p.1 / Chapter Chapter 2 --- Literature Review --- p.3 / Chapter Chapter 3. --- General Behavior Study on China Listed Firms' Cash Dividend Policy --- p.7 / Chapter Chapter 4. --- Empirical Study of Cash Dividends' Information Content --- p.21 / Chapter 4.1 --- Hypothesis --- p.22 / Chapter 4.2 --- Study Method Design --- p.26 / Chapter 4.3 --- Empirical Result --- p.33 / Chapter Chapter 5. --- Cash Dividend and Ownership Structure --- p.48 / Chapter 5.1 --- Issues Related to China Listed Companies' Ownership Structure --- p.48 / Chapter 5.2 --- Empirical Study of Different Shareholders' Attitude towards Cash Dividends --- p.50 / Chapter 5.3 --- "Empirical Study of “No Cash Dividend Disbursement"" Phenomenon" --- p.57 / Chapter Chapter 6. --- Conclusions --- p.61 / Appendix --- p.65 / Reference --- p.72

This research was designed to study the transferability of American management skills to an underdeveloped country such as Pakistan. The contingency theory framework was used for the general design of the study.

There are substantial bodies of literature that advance theory about why Merger and Acquisition (M and A) candidates are found to be unattractive, why negotiations aren???t concluded and why the benefits of companies that are acquired are not realized. Little, if any, research identifies why M and A opportunities are not pursued in the period after candidates are analysed and found to be attractive but before negotiations begin. This study addresses this period by developing a theoretical framework of the variables that intervene to reverse decisions to pursue apparently attractive candidates before negotiations begin and which, in doing so, result in missed opportunities. The study is informed primarily by the Strategic Management content literature (Ansoff, 1965, Porter, 1980) but draws from the strategy process literature (Huff and Reger, 1987) including streams in Strategic Decision Making (SDM) (Papadakis and Barwise, 1998, Schwenck, 1995). The framework is developed using a multiple-case study method. This choice was dictated by the study???s theory building objective, the nature of the research questions ??? that is, what variables influence decisions and how? ??? and the lack of an existing theoretical foundation on which to build. The sample consisted of 37 decisions reversals made by 27 firms in Australia, Europe and the USA. The results suggest that there are three major categories of variables that stop acquirers from pursuing potentially attractive acquisition candidates. These are related to the acquirers???: ??? Strategy and objectives: For example, whether there is a change in strategy or objectives, or either or both are poorly understood and agreed between organizational levels or units; ??? Organizational functional resources: For example, whether constraints on appropriate knowledge and skill sets develop or are perceived to be likely to develop during the post-evaluation period; ??? Other financial factors: For example, whether a shortage of funds develops. Twelve individual variables are identified. Ten of these appear to be consistent with factors that Ansoff and colleagues (1971) associate with post-acquisition failure although variable definitions are not always comparable. Poor management of the variables thus appears to have the potential to expose acquirers to two different but important vulnerabilities. First, potentially attractive M and A opportunities may be forgone if the variables are operative in the post-evaluation ??? pre-negotiation period; second, if they don???t become operative until after the acquisition is consummated, the benefits of attractive companies that are acquired may not be realized. This study???s most important contribution is to the theoretically diverse base of acquisition performance literature which, to-date, tends to examine phases in the M and A decision making process before or after the focal period of this study. It also illustrates the use of a general multi-theoretic model of Strategic Decision Making (Rajagopolan, et al., 1993, 1998) exclusively in the M and A domain, a domain whose decisions are worthy of study in their own right. Finally, it provides insights into a new set of factors subject to control that managers may take into account in their acquisition planning.