Publications
Detailed Information
Partner Favorability and Acquisition Premia in Cross-Border M&A's
DC Field | Value | Language |
---|---|---|
dc.contributor.advisor | 조승아 | - |
dc.contributor.author | 변종민 | - |
dc.date.accessioned | 2017-07-14T05:20:31Z | - |
dc.date.available | 2017-07-14T05:20:31Z | - |
dc.date.issued | 2016-08 | - |
dc.identifier.other | 000000137112 | - |
dc.identifier.uri | https://hdl.handle.net/10371/124691 | - |
dc.description | 학위논문 (석사)-- 서울대학교 대학원 : 경영학과 경영학전공, 2016. 8. 조승아. | - |
dc.description.abstract | Abstract
In this paper, we examined the linkage between a firms sentiment toward the national identity of its acquisition partner and the acquisition premium paid. Using a sample of 435 cross-border M&As in 38 countries, we found that the acquisition premium is negatively associated with: 1) the degree of favorability the acquiring firm holds toward its target firms national identity | - |
dc.description.abstract | and 2) the degree of favorability the target firm holds toward its acquiring firms national identity. In addition, information asymmetricity was shown to moderate the relationship between the acquirer's favorability of the target firm and the acquisition premium. Specifically, the acquiring firms tend to rely more on their subjective favorability in unrelated acquisitions in which they lack information on the target firm. In sum, our results shed new insight on the effects of subjective favorability of national identities on acquisition premia in the context of cross-border M&As. | - |
dc.description.tableofcontents | 1. Introduction 1
2. Theory and Hypothesis 4 2.1 Favorability of National Identity: The Acquirers Perspective 7 2.2 Favorability of National Identity: The Targets Perspective 10 2.3 The Interaction Effects between Favorability of National Identity 11 2.4 The Moderating Effects of Information Asymmetricity 13 3. Methods 16 3.1 Sample 16 3.2 Dependent Variable 17 3.3 Independent Variable 17 3.4 Moderating Variable 19 3.5 Control Variables 19 3.6 Analysis 21 4. Results 21 5. Discussion and Conclusion 28 6. Limitations and Suggestions for the Future Studies 31 References 33 국문 초록 44 | - |
dc.format | application/pdf | - |
dc.format.extent | 622493 bytes | - |
dc.format.medium | application/pdf | - |
dc.language.iso | en | - |
dc.publisher | 서울대학교 대학원 | - |
dc.subject | Partner Favorability | - |
dc.subject | National Identity | - |
dc.subject | Acquisition Premium | - |
dc.subject | Cross-Border M&A's | - |
dc.subject.ddc | 658 | - |
dc.title | Partner Favorability and Acquisition Premia in Cross-Border M&A's | - |
dc.type | Thesis | - |
dc.description.degree | Master | - |
dc.citation.pages | 44 | - |
dc.contributor.affiliation | 경영대학 경영학과 | - |
dc.date.awarded | 2016-08 | - |
- Appears in Collections:
- Files in This Item:
Item View & Download Count
Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.