There is a positive association between stock-for-stock acquirers’ pre-merger abnormal accruals and post-merger announcement lawsuits. The market only partially anticipates the effects of post-merger announcement lawsuits at the merger announcement and the post-merger announcement long-term market underperformance is largely limited to litigated acquisitions. Overall, the evidence suggests that...

Business Competition Law in Indonesia adheres to a post-notification system which is carried out after the effective date process of taking over (mergers and acquisitions) company. Based on data KPPU's website, during period from 2012 – 2022 there were 45 cases fines for late notification merger acquisition with total fine Rp. 118,765,000,000. Data company case decisions 11 February 2020 April ...

This paper analyzes 4,750 mergers from 1963 to 1998 to characterize the risk and return in risk arbitrage. Results indicate that risk arbitrage returns are positively correlated with market returns in severely depreciating markets but uncorrelated with market returns in f lat and appreciating markets. This suggests that returns to risk arbitrage are similar to those obtained from selling uncove...

M any Middle-East countries, like Iran, have dynamic banking industries and have observed merger and acquisitions (M&A) waves. M&A waves are usually defined in the developed world context and some of their main drivers were identified as: market timing, environment's shocks, merger manias, government regulation and regulatory, and technological changes. It has been discussed that merger waves ...

Nowadays, firms apply the merger and acquisition strategy for gaining synergy, increasing the wealth of stockholders, economics of scales, enhancing efficiency, increasing the ability to research and develop, developing the firm and decreasing the risk. Developing an optimized model with the ability to identify the effective variables on the merger and acquisition process has a significant ...

This paper focuses on IS integration decisions made during mergers and acquisitions from a strategic-alignment lens. The objectives of this study are to: (1) examine business-IS alignment as reflected in IS integration decisions in a merger context and (2) identify factors that shape IS integration decisions in a merger context. We study these issues in three oil and gas mergers from pre-merger...

We show how production and pricing data can be used to estimate merger–related efficiencies using pre merger data, and we assess the changes in efficiency and marginal costs that are expected to occur post merger. To do this, we jointly estimate firm level returns to scale, technical change, TFP growth, and price–cost markups. We implement our empirical model using data for the North American (...

 what a merger is and how it differs from an acquisition;  some of the reasons why companies merge;  the underlying merger rationales;  what a merger driver is;  what the primary merger drivers are;  the difference between horizontal integration, vertical integration and conglomeration;  the basic merger lifecycle and lifecycle phases;  some basic measures of success for mergers;  the ...

We numerically investigate how fundamental properties of the spectral energy distribution (SED) of a major gas-rich galaxy merger with dusty starburst are determined by the initial orbital configuration of the merger. We found that an infrared luminous galaxy with dusty starburst formed by a nearly retrograde-retrograde merger suffers the most remarkable dust extinction of stellar light and con...

Adopting an intergroup perspective, this research was designed to examine predictors of change in post-merger identification throughout a merger. Data were collected over three points of measurement from 157 students of a newly merged university. The first questionnaire was distributed 4 months after the implementation of the merger; the following two were distributed six months and a year ther...