{"title":"战略收购促进增长的价值创造模式","authors":"Veronika S. Vinogradova","doi":"10.21315/aamjaf2023.19.2.5","DOIUrl":null,"url":null,"abstract":"This paper extends the previous research on strategic transactions (M&A) and focuses on the analysis of the relationship between the pre-event performance of acquiring companies and value creation in strategic acquisitions for growth. It identifies the prerequisites of successful transactions and tests empirically how the key fundamental determinants of the acquiring companies influence investors’ reaction around the announcement and acquirers’ financial performance in the years after. The results of the analysis confirm that the intrinsic pre-event performance of the acquiring firm can significantly impact the outcome and profitability of strategic M&A.","PeriodicalId":44370,"journal":{"name":"Asian Academy of Management Journal of Accounting and Finance","volume":null,"pages":null},"PeriodicalIF":0.7000,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Patterns of Value Creation in Strategic Acquisitions for Growth\",\"authors\":\"Veronika S. Vinogradova\",\"doi\":\"10.21315/aamjaf2023.19.2.5\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper extends the previous research on strategic transactions (M&A) and focuses on the analysis of the relationship between the pre-event performance of acquiring companies and value creation in strategic acquisitions for growth. It identifies the prerequisites of successful transactions and tests empirically how the key fundamental determinants of the acquiring companies influence investors’ reaction around the announcement and acquirers’ financial performance in the years after. The results of the analysis confirm that the intrinsic pre-event performance of the acquiring firm can significantly impact the outcome and profitability of strategic M&A.\",\"PeriodicalId\":44370,\"journal\":{\"name\":\"Asian Academy of Management Journal of Accounting and Finance\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.7000,\"publicationDate\":\"2023-11-30\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Asian Academy of Management Journal of Accounting and Finance\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.21315/aamjaf2023.19.2.5\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q4\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Asian Academy of Management Journal of Accounting and Finance","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.21315/aamjaf2023.19.2.5","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Patterns of Value Creation in Strategic Acquisitions for Growth
This paper extends the previous research on strategic transactions (M&A) and focuses on the analysis of the relationship between the pre-event performance of acquiring companies and value creation in strategic acquisitions for growth. It identifies the prerequisites of successful transactions and tests empirically how the key fundamental determinants of the acquiring companies influence investors’ reaction around the announcement and acquirers’ financial performance in the years after. The results of the analysis confirm that the intrinsic pre-event performance of the acquiring firm can significantly impact the outcome and profitability of strategic M&A.
期刊介绍：
To provide a forum for the exchange of ideas and dissemination of empirical findings and analytical research in the specialized areas of accounting and finance with special emphasis on scholarly works with policy implications for countries in the Asia Pacific. The following are some of the topical subject areas relevant to the journal (but are not limited to): Accounting • Financial reporting and accounting standards • Auditing issues • Value based accounting and its relevance • Theory of accounting firm • Environmental auditing • Corporate governance issues • Public sector accounting Finance • Valuation of financial assets • International capital flows • Ownership and agency theory • Stock market behavior • Investment and portfolio management • Islamic banking and finance • Microstructures of financial markets
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