haku: @author Tsakalotos, E. / yhteensä: 4
viite: 3 / 4
| Tekijä: | Dickerson, A. P. Gibson, H. D. Tsakalotos, E. |
| Otsikko: | The impact of acquisitions on company performance: Evidence from a large panel of UK firms |
| Lehti: | Oxford Economic Papers
1997 : JUL, VOL. 49:3, p. 344-361 |
| Asiasana: | MERGERS COMPANY PERFORMANCE COMPANY GROWTH UNITED KINGDOM |
| Kieli: | eng |
| Tiivistelmä: | This study examines the impact of acquisitions for a large cross-section of UK firms observed over a long time period. Companies are compared once they have made an acquisition with their previous performance as well as with non-acquiring firms. This effectively integrates two approaches that have tended to be separate in the existing literature. The results show no evidence that acquisition has a net beneficial effect on company performance as measured by profitability. Acquisitions have a systematic detrimental impact on company performance. Takeovers do not lead to enhanced performance as measured by profitability. There is a negative long-term effect of acquisition on profitability in the UK. |
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