Cross-border acquisitions and firm value: An analysis of emerging-market multinationals
By Bülent Aybar, A. Ficici. 2009
508 citations recorded by the source corpus.
Subfields: Accounting, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/8541c3d7c808a685f16f32512eb9a90b26a3a4d5
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Citations in the corpus
- The motives and performance of cross-border acquirers from emerging economies: Comparison between Chinese and Indian firms (2013, methodology): “However, for cross-border M&As undertaken by EM firms, Aybar and Ficici (2009) only find a positive impact of control level on the firm value in the univariate test, but fail to confirm the significance of the level of control in their multivariate analysis.”
- Overcoming distrust: How state-owned enterprises adapt their foreign entries to institutional pressures abroad (2014, background): “Several studies show a tendency for emerging economy MNEs to undertake large overseas investments that generate weak financial performance (Chen & Young, 2010; Hope, Thomas & Vyas, 2011; Aybar & Ficici, 2009).”
- Towards a more balanced treatment of culture in international business studies: The need for positive cross-cultural scholarship (2014, background): “(Aybar & Ficici, 2009: 1318, 1321) “we posit that cultural distance may be best viewed as a double edged sword for acquisition performance.”
- Mergers and acquisitions in and out of emerging economies (2015, background): “Aybar and Ficici (2009) examine cumulative abnormal returns (CARs) of cross-border acquisitions by emerging multinationals.(1) Their analysis of 433 acquisition announcements in 1991–2004 shows that cross-border M&As by emerging multinationals on average result in negative CARs. The relative size of”
- Post-entry survival of developing economy international new ventures: A dynamic capability perspective (2018, background): “Recent research on developing economy company internationalization has focused on large emerging multinational enterprises (EMNEs) (Aybar & Ficici, 2009; Contractor et al., 2007; Luo & Tung, 2007; Ramamurti & Singh, 2008).”
- Do cross-border mergers and acquisitions increase short-term market performance? The case of Chinese firms (2017, methodology): “However, Aybar and Ficici (2009) examine 433 cross-border acquisitions associated with 58 emerging-market multinationals between the years 1991-2004 and show that shareholders of acquiring firms earn negative abnormal returns.”
- State ownership, institutional effects and value creation in cross-border mergers & acquisitions by Chinese firms (2015, unknown): “However, Aybar and Ficici (2009) found that CBM&A, on average, do not create value for emerging market firms.”
- Emerging Country Cross-Border Acquisitions: Characteristics, Acquirer Returns and Cross-Sectional Determinants (2011, unknown): “In addition, Aybar and Ficici (2009) examine 433 CBA announcements made by 58 emerging-market multinationals during 1991–2004, and find that the equity markets react negatively to the emerging market CBA announcements.”
- Emerging multinationals from mid-range economies: the influence of institutions and factor markets (2013, background): “Chen and Young’s (2010) findings of the value-destroying impact of Chinese MNEs’ announcements of overseas acquisitions on shareholder value are corroborated by Aybar and Ficici’s (2009) similar findings, based on a larger, more global sample of MNEs from a variety of emerging economies.”
- The global strategy of emerging multinationals from China (2012, unknown): “3 Chen and Young’s (2010) findings of the value-destroying impact of Chinese MNEs’ announcements of overseas acquisitions on shareholder value are corroborated by Aybar and Ficici’s (2009) similar findings, based on a larger, more global sample of MNEs from a variety of emerging economies.”