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| Tekijä: | Papadakis, V. M. Thanos, I. C. |
| Otsikko: | Measuring the performance of acquisitions: an empirical investigation using multiple criteria |
| Lehti: | British Journal of Management
2010 : DEC, VOL. 21:4 p. 859-873 |
| Asiasana: | consolidation mergers performance management accounting strategic planning organizational behaviour profitability empirical research Greece |
| Kieli: | eng |
| Tiivistelmä: | This article examines the comparability of the three most used measures of acquisition performance: accounting-based measures, cumulative abnormal returns and managers' subjective assessments in a non-Anglo Saxon setting. Empirical testing is based on a sample of 50 domestic acquisitions executed by Greek companies. Findings from the three measures show failure rates from 50% to 60%. Accounting-based measures correlate positively to managers' subjective evaluations. Opposite, cumulative abnormal returns aren't correlated to either accounting-based measures or managers' subjective evaluations. |
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