The Economic Impact of M&A: Implications for UK firms

Author(s):

Scott Moeller

 et al.
Industry:
Any Industry

M&A deals are complex and challenging transactions that arguably represent the most significant investment a company can undertake, and give researchers an opportunity to analyse the value implications of these executive decisions. Whether mergers and acquisitions ultimately create or destroy corporate value and the identification of the factors that determine M&A success or failure are issues of crucial importance for both the management and shareholders of companies, and also for policy makers. The results presented in this paper provide some important conclusions regarding the impact of mergers and acquisitions in the UK, which should be taken into consideration by policymakers reviewing this area of the corporate environment.

Updated: 06/02/2013
Comments:
Views: 1,707

How They Spend It: A study of corporate cash levels and spending behaviour

Author(s):

Scott Moeller

 et al.
Industry:
Any Industry

This research examines Corporate Cash Holdings, Corporates' Spending Patterns and Optimal Spending Strategies, using all non-financial and non-utility companies listed on the London Stock Exchange at any point in time between 1996 and 2010 as a study sample.

Updated: 31/01/2013
Comments:
Views: 1,617

The First 1,000 Days in the Life of an IPO

Author(s):

Scott Moeller

 et al.
Industry:
Any Industry

Firms which list their shares on the pubic market should do so with the intent of using their new status for further growth. Whether they do so, and how their activities affect performance, are the bases of this study. In collaboration with its research partners, Credit Suisse and Ernst & Young, the M&A Research Centre (MARC) at Cass Business School performed a study of UK IPOs between 1995 and 2008. The study followed 1,559 companies for the 1,000 days after their first day of trading. The sample includes IPOs which listed their shares on either the UK Main exchange (Main) or on the Alternative Investment Market (AIM).

Updated: 29/01/2013
Comments:
Views: 1,562

How to manage a euro exit

Author(s):

Rob Thomas

Topic:
Finance
Industry:
Any Industry

In recent years the world's financial markets have been mesmerised by the existential crisis that has engulfed the euro. This has made it very difficult for fund managers to get on with the job of managing client money. It is crucial for all those investors that put their faith in the fund management industry that European politicians find a sustainable solution to their problems. One of these solutions may involve the exit of one or more nations from the euro. This paper sets out a practical mechanism for one or more countries to leave the euro. One which would hopefully minimise the economic costs for all concerned.

Updated: 24/01/2013
Comments:
Views: 1,958

Cannot Make Do Without You: Outsourcing by Knowledge-Intensive New Firms in Supplier Networks

Author(s):

Ajay Bhalla

 et al.
Topic:
Strategy
Industry:
Any Industry

Outsourcing is a strategy which involves sourcing activities that firms may not have completed in-house in the past, or the substitution of internal activities by transfer, in part or whole, to a third party supplier. This research focuses on two exploratory research questions - how do new firms use outsourcing to access valuable resources and capabilities residing in supplier networks, and secondly, what capabilities do new firms need to successfully outsource in supplier networks?

Updated: 22/01/2013
Comments:
Views: 1,631

Factors that influence the success of women in careers.

We investigate the careers of women, in terms of the influence from individual and organisational factors on objective (management level, salary) and subjective (satisfaction) success. Using a survey and interviews of executives in South Korea, we find influences from both sets of factors, but in particular from male-dominated organisational cultures.

Updated: 15/11/2013
Comments:
Views: 1,791

Supply Chain Agility: The missing link? Operational flexibility

In part III in this series of articles on supply chain agility, Dr. Canan Kocabasoglu-Hillmer explores how companies invest in strategic sourcing to improve their operational competencies, which tends to have an impact on how agile they become.

Updated: 18/01/2013
Comments:
Views: 3,952

Can a gift-exchange model explain a potential link between flexible working and organisational performance?

In the UK, the benefits of flexible working, for both employees and employers, have been widely advocated. Data suggests there has been an increase in the offering of flexible working options to employees in Britain, and that similar schemes have been introduced across Europe. A systematic review of the academic research showed that a clear link between flexible working arrangements and organisational performance is yet to be established. In fact, a large empirical study of firms in the UK, France, Germany and the USA concluded that there was no direct link between flexible working practices and firm performance. This study examines data from the Workplace and Employment Relations Survey of 2004 to facilitate further understanding.

Updated: 14/03/2014
Comments: 8
Views: 2,651

A fractional cointegration analysis of European electricity spot prices

Author(s):

Lilian de Menezes

 et al.
Topic:
Finance
Industry:
Any Industry

Well-functioning energy markets that secure energy supply and competitive prices are important factors for economic growth and consumer welfare. Liberalised and integrated markets are expected to benefit the public by securing supply and stimulating competition. At present the European electricity market liberalisation is the world's most extensive cross-jurisdiction reform of the electricity sector. This study extends the existing literature about European electricity market integration by adopting a fractional co-integration analysis and providing empirical evidence that the classical unit root test framework may be inadequate because of long range dependencies in electricity spot prices.

Updated: 02/02/2014
Comments: 1
Views: 1,688