It has become conventional wisdom that acquirers suffer – by over-paying for targets and then suffering post-acquisition chaos. Indeed, there is almost a cottage industry among analysts in decrying acquisition problems, pointing to the ‘winner’s curse’ in which the high bidder over-pays and then fails to gain predicted synergies. At the same time, newspapers and magazines daily highlight failed...

Globalization has resulted in exponential growth for many successful enterprises both in financial and non-financial industries. In the majority of these, growth can be attributed to inorganic expansion through mergers and acquisitions (M&As). Specifically, in the insurance industry M&A activity has been on the rise since the early 1990s — especially in the UK, continental Europe and North Amer...

Abstract This paper explores whether social ties, proxied by Facebook friendship links, can explain why the number and value of mergers acquisitions (M&As) are greater within countries than between countries. We find that ties positively correlated with M&As. also demonstrate home bias in M&As is greatly reduced once we control for differences further particularly facilitate when le...

As an important part of the national political system, government audits play a significant role in supervising and restricting enterprises. Since 2010, National Audit Office China has repeatedly disclosed problems regarding enterprises’ M&A to prevent loss state-owned assets. This study takes listed companies controlled by central enterprises A-shares from 2008 2018 as sample investigate impac...