Corporate Governance and Regulatory Impact on Mergers and Acquisitions: Research and Analysis on Activity Worldwide Since 1990Corporate Governance and regulatory presssures have been much in the news lately. How they affect the bottom line of corporations has been difficult to quantify, and research is just beginning to be published that addresses this crucial question. This book is the first collection for new research about the impact of takeover regulation and corporate governance on M&A financial results. It will be essential reading to any M&A specialist, an investment banker, a hedge fund manager, a private equity director, or a venture capitalist. Also a must read for financial analysts who follow M&A targets. The book presents research from around the world so it provides a global perspective on this important topic.*The first and only book of research on takeover regulation and corporate governance affecting M&A results*Stands out from all the "How to" books on M&A and M&A disaster books because it provides solid high-quality research on what works and how different decisions affect company and shareholder value*Research provides a guideline for decisionmakers in investment banks, private equity companies, and for financial analysts |
Contents
| 1 | |
| 15 | |
The Governance Motive in CrossBorder Mergers and Acquisitions | 43 |
Corporate Governance Convergence Through CrossBorder Mergers The Case of Aventis | 71 |
Whither Hostility? | 103 |
Corporate Governance and acquisitions Acquirer Wealth Effects in the Netherlands | 131 |
Common terms and phrases
abnormal returns acquiring firms acquisition announcements agency problems antitakeover Arcelor assets Australian corporations Aventis bidder breakthrough rule CAPM Company Law controlling shareholder corporate finance corporate governance corporate law countries cross-border deals cross-border mergers Deutsche Telekom dividend domestic Dummy Dutch auctions Dutch firms efficiency equity European Financial Economics free cash flow governance regime hedge fund Hoechst holders hostile takeovers impact implemented industry investment investors Journal of Financial M&As majority management board mandatory bid merger activity merger laws Merger Report mergers and acquisitions minority shareholders Netherlands on-market one-share one-vote ownership structure Porta private benefits proxy regression Renneboog Rhône-Poulenc sample Schlingemann SEC Form 14D-9 securities sellout right Shleifer significant squeeze-out and sellout squeeze-out procedure squeeze-out right standard Stulz supervisory board T-Online Table takeover bid takeover defense Takeover Directive takeover regulation target ratio tender offer threshold tion transactions United Kingdom valuation variable Vishny voting rights wealth effects