Corporate Governance and Regulatory Impact on Mergers and Acquisitions Book

Corporate Governance and Regulatory Impact on Mergers and Acquisitions


  • Author : Greg N. Gregoriou
  • Publisher : Elsevier
  • Release Date : 2007-07-26
  • Genre: Business & Economics
  • Pages : 304
  • ISBN 10 : 9780080549323

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Corporate Governance and Regulatory Impact on Mergers and Acquisitions Excerpt :

Corporate 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

The Rise of Corporate Governance in Corporate Control Research Book

The Rise of Corporate Governance in Corporate Control Research


  • Author : Jeffry M. Netter
  • Publisher : Unknown
  • Release Date : 2015
  • Genre: Uncategoriezed
  • Pages : 25
  • ISBN 10 : OCLC:1290218435

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The Rise of Corporate Governance in Corporate Control Research Excerpt :

This article has two related tasks. First, we review the articles published in this Special Issue on Corporate Control, Mergers, and Acquisitions. These articles provide new evidence on several aspects of corporate control and governance including the value and performance effects of various ownership groups, the impact of internal governance structures, the effects of regulatory changes on specific industries and evidence on bidding strategies in takeovers. This analysis leads us to our second task - to examine the evolution of corporate control research, broadly defined. Our analysis shows a movement in research from mergers and acquisitions to a broader analysis of corporate governance, especially internal governance features. We suggest that there is a trend toward an increase in the relative importance of internal governance compared to discipline from the market from corporate control. This trend reflects an important change over the past several decades in the means through which the market disciplines corporate behavior.

Essays in Corporate Governance Book

Essays in Corporate Governance


  • Author : Waquar Ahmad
  • Publisher : Unknown
  • Release Date : 2012
  • Genre: Consolidation and merger of corporations
  • Pages : null
  • ISBN 10 : OCLC:1003325035

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Essays in Corporate Governance Excerpt :

This dissertation titled "Essays in Corporate Governance" contains two essays in matters relating to corporations and their governance practices. The titles and the abstracts of the two papers are presented below. Does it pay to play? Political donations around mergers and acquisitions: This study focuses on corporate political donations around mergers and acquisitions of U.S. firms. I track the political contributions made by firms involved in large U.S. mergers from 2000 to 2010 by focusing on four different ways that corporations contribute to political parties: political action committee (PAC) donations, PAC to PAC donations, soft money and 527 committees' donations, and individual donations. Consistent with politicians' rent-seeking behavior, I document evidence that participants in mergers and acquisitions alter their donations around these deals in attempts to influence the deal outcome and appear to do so particularly around deals where donations may be more effective. Overall, I find that large shifts in donations around mergers and acquisitions increase the likelihood of deal completion. After controlling for firm and merger characteristics, the firms involved in mergers make more political contributions after a deal is announced compared to periods before the announcement and after a deal is finalized. This behavior is more pronounced when the deal continues for an extended period of time, which is consistent with the notion that these deals may face more regulatory hurdles and donations may likely impact the merger outcome. Furthermore, I document higher bidder and target abnormal donations after a merger announcement when the market reaction is negative. Finally, donation intensity increases when the merger would cause the industry concentrations ratios to increase above normal. These results collectively suggest that firms aggressively manage political donations around merger and acquisition activity, potentially indicating agency conflicts driving the

The Oxford Handbook of Corporate Law and Governance Book

The Oxford Handbook of Corporate Law and Governance


  • Author : Jeffrey N. Gordon
  • Publisher : Oxford University Press
  • Release Date : 2018-04-26
  • Genre: Law
  • Pages : 900
  • ISBN 10 : 9780191061400

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The Oxford Handbook of Corporate Law and Governance Excerpt :

Corporate law and corporate governance have been at the forefront of regulatory activities across the world for several decades now, and are subject to increasing public attention following the Global Financial Crisis of 2008. The Oxford Handbook of Corporate Law and Governance provides the global framework necessary to understand the aims and methods of legal research in this field. Written by leading scholars from around the world, the Handbook contains a rich variety of chapters that provide a comparative and functional overview of corporate governance. It opens with the central theoretical approaches and methodologies in corporate law scholarship in Part I, before examining core substantive topics in corporate law, including shareholder rights, takeovers and restructuring, and minority rights in Part II. Part III focuses on new challenges in the field, including conflicts between Western and Asian corporate governance environments, the rise of foreign ownership, and emerging markets. Enforcement issues are covered in Part IV, and Part V takes a broader approach, examining those areas of law and finance that are interwoven with corporate governance, including insolvency, taxation, and securities law as well as financial regulation. The Handbook is a comprehensive, interdisciplinary resource placing corporate law and governance in its wider context, and is essential reading for scholars, practitioners, and policymakers in the field.

The Art of Capital Restructuring Book

The Art of Capital Restructuring


  • Author : H. Kent Baker
  • Publisher : Wiley
  • Release Date : 2011-06-07
  • Genre: Business & Economics
  • Pages : 590
  • ISBN 10 : 0470569514

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The Art of Capital Restructuring Excerpt :

The most up-to-date guide on making the right capital restructuring moves The Art of Capital Restructuring provides a fresh look at the current state of mergers, acquisitions, and corporate restructuring around the world. The dynamic nature of M&As requires an evolving understanding of the field, and this book considers several different forms of physical restructuring such as divestitures as well as financial restructuring, which refers to alterations in the capital structure of the firm. The Art of Capital Restructuring not only explains the financial aspects of these transactions but also examines legal, regulatory, tax, ethical, social, and behavioral considerations. In addition to this timely information, coverage also includes discussion of basic concepts, motives, strategies, and techniques as well as their application to increasingly complex, real-world situations. Emphasizes best practices that lead to M&A success Contains important and relevant research studies based on recent developments in the field Comprised of contributed chapters from both experienced professionals and academics, offering a variety of perspectives and a rich interplay of ideas Skillfully blending theory with practice, this book will put you in a better position to make the right decisions with regard to capital restructuring in today's dynamic business world.

Corporate Governance Book
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Corporate Governance


  • Author : H. Kent Baker
  • Publisher : John Wiley & Sons
  • Release Date : 2010-08-20
  • Genre: Business & Economics
  • Pages : 676
  • ISBN 10 : 0470877952

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Corporate Governance Excerpt :

A detailed look at the importance of corporate governance in today's business world The importance of corporate governance became dramatically clear at the beginning of the twenty-first century as a series of corporate meltdowns from managerial fraud, misconduct, and negligence caused a massive loss of shareholder wealth. As part of the Robert W. Kolb Series in Finance, this book provides a comprehensive view of the shareholder-manager relationship and examines the current state of governance mechanisms in mitigating the principal-agent conflict. This book also offers informed suggestions and predictions about the future direction of corporate governance. Relies on recent research findings to provide guidance through the maze of theories and concepts Uses a structured approach to put corporate governance in perspective Addresses essential issues related to corporate governance including the idea of principal-agent conflict, role of the board of directors, executive compensation, corporate monitoring, proxy contests and corporate takeovers, and regulatory intervention Corporate governance is an essential part of mainstream finance. If you need to gain a better understanding of this topic, look no further than this book.

Financial Services Firms Book

Financial Services Firms


  • Author : Zabihollah Rezaee
  • Publisher : John Wiley & Sons
  • Release Date : 2011-06-09
  • Genre: Business & Economics
  • Pages : 600
  • ISBN 10 : 9781118098530

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Financial Services Firms Excerpt :

Indispensable coverage of new federal regulatory reforms and federal financial issues An essential guide covering new federal regulatory reforms and federal financial issues Financial Institutions, Valuations, Mergers and Acquisitions, Third Edition presents a new regulatory framework for financial institutions in the post-bailout era. Provides valuable guidance to assess risks, measure performance and conduct valuations processes to create shareholder value Covers the protection of other stakeholders, including customers, regulators, government, and consumers Offers an up-to-date understanding of financial institutions, their challenges, and their opportunities in the post-Sarbanes-Oxley era Over the past decade, substantial changes have taken place in the structure and range of products and services provided by the financial services industry. Get current coverage of these changes that have transformed both traditional organizations such as banks, thrifts, and insurance companies, as well as securities providers, asset management companies and financial holding companies with the up-to-the-minute coverage found in Financial Institutions, Valuations, Mergers and Acquisitions, Third Edition.

Determinants of European Cross border Mergers and Acquisitions Book

Determinants of European Cross border Mergers and Acquisitions


  • Author : Miriam Manchin
  • Publisher : Unknown
  • Release Date : 2004
  • Genre: Competition
  • Pages : 36
  • ISBN 10 : IND:30000096444595

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Determinants of European Cross border Mergers and Acquisitions Excerpt :

This paper investigates the determinants of European cross-border M&As using a large database. Specifically, we identify some of the different factors which contribute to the efficiency of the firms and divide these into two groups: those which can be changed through a merger or acquisition and those which cannot be altered and are more related to the environment where the acquired firm is established.Using a gravity model we find evidence for both of what have become to be known as the governance and outcome hypotheses. Additionally, we do not find any supporting evidence for more intense M&A activity between euro-zone countries.

The Law and Economics of Corporate Governance Book

The Law and Economics of Corporate Governance


  • Author : Alessio M. Pacces
  • Publisher : Edward Elgar Publishing
  • Release Date : 2010-01-01
  • Genre: Law
  • Pages : 320
  • ISBN 10 : 9781849807081

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The Law and Economics of Corporate Governance Excerpt :

In this timely book, the law and economics of corporate governance is approached from a range of angles. This study reveals that perspectives are changing: they differ between the economic and the legal standpoint; they vary across countries; they evolve over time. A group of leading scholars offer their views some provide fresh empirical evidence on existing theories and others attempt to develop new theoretical insights based on empirical puzzles. They all analyse the economics of corporate governance with a view to how it should, or should not, be regulated. Economic analysis of law proves to be the common language for understanding corporate governance on both sides of the Atlantic. The law and economics approach is applied to topical issues in the international debate, such as the harmonization of company laws; regulatory competition; determinants of separation of ownership and control; enforcement of investor protection; and the political economy of corporate governance.

State on Board  Book

State on Board


  • Author : Nga Pham
  • Publisher : Springer Nature
  • Release Date : 2021-09-01
  • Genre: Political Science
  • Pages : 247
  • ISBN 10 : 9789811635250

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State on Board Excerpt :

Research in this book focuses on the strategic behaviour of the State as a shareholder in businesses, and the implications it has for the other shareholder(s) and business performance. It investigates the institutional characteristics of State-linked and State-owned firms (SIEs & SOEs), in emerging markets using Vietnam as a case study with comparative analysis on China and selected ASEAN countries. In doing so, the book adopts an evidence-based approach to explain the State’s role as a shareholder in the different aspects of corporate governance, including CEO appointment, board structure and impact of State ownership on business strategy and performance. It highlights the influence of the State as a shareholder by investigating institutional factors consistent with “path dependence” theory, which postulates that the initial and underlying structure of an economy influences its performance. In addition, the book presents empirical evidence of the dynamics of corporate governance arising from interactions between the State and other shareholders, which has not yet been addressed in the literature, and is distinctive in providing new insights from both qualitative and empirical research on how to successfully navigate the emerging market business environments from the perspective of the State as an “owner-participant”. Explaining the theoretical constructs in corporate governance in State-invested firms, empirical research methodologies, and results to draw and validate inferences, the book is comprehensive and provides a practical guide for practitioners as well as a reference for academics, undergraduate and postgraduate students. The new theoretical models proposed integrate traditional political-economic and agency theories, which also underpin tertiary business courses and academic research.

Mergers  Acquisitions and International Financial Regulation Book

Mergers Acquisitions and International Financial Regulation


  • Author : Daniele D'Alvia
  • Publisher : Routledge
  • Release Date : 2021-11-30
  • Genre: Business & Economics
  • Pages : 258
  • ISBN 10 : 9781000507911

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Mergers Acquisitions and International Financial Regulation Excerpt :

This is a much-needed work in the financial literature, and it is the first book ever to analyse the use of Special Purpose Acquisition Companies (SPACs) from a theoretical and practical perspective. By the end of 2020, more than 240 SPACs were listed in the US (on NASDAQ or the NYSE), raising a record $83 billion. The SPAC craze has been shaking the US for months, mainly because of its simplicity: a bunch of investors decides to buy shares at a fixed price in a company that initially has no assets. In this way, a SPAC, also known as a "blank check company", is created as an empty shell with lots of money to spend on a corporate shopping spree. Could the trend be here to stay? Are SPACs the new legitimate path to traditional IPO? This book tackles those questions and more. The author provides a thorough analysis of SPACs including their legal framework and how they are used as a risk mitigation tool to structure transactions. The main objectives of the book are focused on finding a working definition for SPACs and theorising on their origins, definition, and evolution; identifying the objectives of financial regulation within the context of the recent financial crisis (2007–2010) and the one that is currently unfolding (Covid-19); and also describing practical examples of SPACs through a comparative study that, for the first time, outlines every major capital market on which SPACs are listed, in order to identify a possible international standard of regulation. The book is relevant to academics as well as policymakers, international financial regulators, corporate finance lawyers as well as to the financial industry tout court.

New Competition Jurisdictions Book

New Competition Jurisdictions


  • Author : Richard Whish
  • Publisher : Edward Elgar Publishing
  • Release Date : 2012-01-01
  • Genre: Law
  • Pages : 368
  • ISBN 10 : 9780857939524

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New Competition Jurisdictions Excerpt :

'The most thoughtful collection available of insights into the challenges facing new competition jurisdictions. Whish and Townley have brought together experts on approaches global, comparative and local, combined with fresh inter-disciplinary insights. By combining law, economics and political economy, what emerges are pointed commentaries, and a rich source of principles and pragmatism. This book will guide the creators and enforcers of new competition law regimes.' – Philip Marsden, Director, British Institute of International and Comparative Law, and OFT Board Member 'This is a wonderful volume filled with good ideas. It evolves from the Sixth Conference of ASCOLA, the world association of competition law professors, which asked a group of young scholars how new competition law systems can be made more effective, and challenged the conference participants to interrogate the ideas. the resulting book is an admirable collection of insightful papers and commentary. For all who are interested in advancing younger competition law systems and their supporting academic communities, this volume must be read.' – Eleanor Fox, New York University School of Law, US This book focuses on the problems faced by newly-established competition authorities, and on shaping policies and building institutions in those jurisdictions. In particular four key issues encountered by new competition jurisdictions are considered, namely: the challenges and obstacles to adopting competition laws; institutional challenges and choices, with a specific focus on deterrence; the global perspective, with a specific focus on mergers; and a discussion of how to help young academics in new jurisdictions. Theoretical analysis is informed by practice throughout, and in particular by those considered to be at the cutting edge, either working in new competition authorities or from specialists advising them on a daily basis (such as those in the OECD and UNCTAD). New Competition Jurisdictions will be of

Takeovers and the European Legal Framework Book

Takeovers and the European Legal Framework


  • Author : Jonathan Mukwiri
  • Publisher : Routledge
  • Release Date : 2009-05-07
  • Genre: Business & Economics
  • Pages : 200
  • ISBN 10 : 9781134007813

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Takeovers and the European Legal Framework Excerpt :

Since the implementation of the European Directive on Takeover Bids, a European common legal framework governs regulation of takeovers in EU Members States. The European Directive on Takeover Bids was adopted in April 2004, and implemented in the UK and in other Member States on 20th May 2006. The Directive seeks to regulate takeovers by way of protecting investors, and harmonising takeover laws in Europe. In facilitating the restructuring of companies through takeovers, the Directive aims at reinforcing the free movement of capital. Takeovers and the European Legal Framework studies the European Community Directive on Takeover Bids, in order to provide greater understanding of both the impact and effect of the European legal framework of takeover regulation. It firstly looks at the Directive from a British perspective, focusing on the impact of the transposition of the Takeover Directive into the UK. The book examines the provisions of the City Code on Takeovers and Mergers, and discusses the takeover provisions in the Companies Act 2006 that implement the Takeover Directive in the UK, arguing that the Directive will provide a new basis for UK takeover regulation, and that the system will work well. Jonathan Mukwiri goes on to consider the Directive in relation to the EU, arguing that despite its deficiencies, in that Member States are free to opt to restrict takeovers, the Directive provides a useful legal framework by which takeovers are regulated in different jurisdictions. Mukwiri highlights how the freedoms of the EC Treaty and EU Directives interact, and the effects of the Takeover Directive on political considerations in the law-making process in European Community. Moreover, he argues that the future of EU takeover regulation is likely to follow the lead of the UK, making this book relevant to a wide range of policy makers and academics across Europe.

Mergers   Acquisitions Review Book

Mergers Acquisitions Review


  • Author : Mark Zerdin
  • Publisher : Law Business Research Ltd.
  • Release Date : 2017-10-31
  • Genre: Uncategoriezed
  • Pages : 752
  • ISBN 10 : 9781912377749

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Mergers Acquisitions Review Excerpt :

The Mergers & Acquisitions Review, edited by Mark Zerdin of Slaughter and May, seeks to provide a richer understanding of the shape of M&A in the global markets, together with the challenges and opportunities facing market participants. This comes at a time when the international market has seen a boom in dealmaking, with many markets reaching post-crisis peaks and some recording all-time highs. Mega-deals have been at the heart of the expanding market, with companies tapping into cash piles and cheap debt to fund transformational deals. Looking behind the headline figures, however, a number of factors suggest dealmaking may not continue to grow as rapidly as it has done recently. This book examines this topic and more across over 55 jurisdictions, as well as providing more general interest chapters covering the European Union, European Private Equity, M&A Litigation, and Offshore Private Equity. Contributors include: Didier Marti, Bredin Prat; Heinrich Knepper, Hengeler Mueller; Javier Ruiz-Camara Bayo, Uria Menendez.