Dissertations / Theses on the topic 'Consolidation and merger of corporations – Canada – Management'
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Wübben, Bernd. "German mergers & acquisitions in the USA transaction management and success /." Wiesbaden : Dt. Univ.-Verl, 2007. http://dx.doi.org/10.1007/978-3-8350-9469-7.
Full textCurfs, Steven Willem. "A comparative analysis of the regulation of mergers in Canada and the European Union /." Thesis, McGill University, 2005. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=82657.
Full textThe thesis offers a thorough description of the current merger review laws in both systems, and the proposed amendments under consideration in Canada and the EU. In the last chapter, the author compares both procedures and comes to the conclusion that, notwithstanding certain differences in objectives and perception, merger regulation in both systems seems to flow along the same lines. Canada does, however, hold a (lonely) special position as far as the 'efficiency defence' is concerned.
Alford, Wayne Stanley. "The firm, take-overs, and directors' duties : a theory of the firm and the duties imposed by law and the directors of an offeree corporation /." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1997. http://www.nlc-bnc.ca/obj/s4/f2/dsk3/ftp05/mq22699.pdf.
Full textWubben, Bernd. "German mergers & acquisitions in the USA transaction management and success /." Wiesbaden : Dt. Univ.-Verl, 2006. https://www.lib.umn.edu/slog.phtml?url=http://www.myilibrary.com?id=134436.
Full textWübben, Bernd. "German mergers & acquisitions in the USA : transaction management and success /." Wiesbaden : Dt. Univ.-Verl, 2006. http://www.myilibrary.com?id=134436.
Full textSmistad, Rikard Englund. "An examination of the collusion hypothesis using Canadian horizontal mergers." Thesis, University of British Columbia, 1985. http://hdl.handle.net/2429/24405.
Full textBusiness, Sauder School of
Graduate
Hanisch, Alexandra. "The use of defensive measures in hostile takeovers : a comparative study of takeover regulation in the US, the UK, Canada, the EU and Germany." Thesis, McGill University, 2002. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=78216.
Full textMcKee, Michelle G. "A case study in management strategies and concerns in running a radio cluster." Instructions for remote access. Click here to access this electronic resource. Access available to Kutztown University faculty, staff, and students only, 2002. http://www.kutztown.edu/library/services/remote_access.asp.
Full textSource: Masters Abstracts International, Volume: 45-06, page: 2715. Typescript. Abstract precedes thesis as preliminary leaf i. Includes bibliographical references (leaves 141-144).
Hoffmann, Nils. "German buyouts adopting a buy and build strategy : key characteristics, value creation and success factors /." Wiesbaden Gabler, 2005. http://d-nb.info/982686277/04.
Full textMati, Mongezi. "Rationalisation of business processes to create a unified information systems portfolio in a merger: a case study of a financial institution." Thesis, Cape Peninsula University of Technology, 2016. http://hdl.handle.net/20.500.11838/2412.
Full textThe failure to rationalise business processes and Information Technology (IT) systems inhibits the ability of organisations to capitalise and create synergies for a merger. Rationalisation of business processes to create a unified Information Systems (IS) portfolio plays a significant role in the success of a merger. The synergies of a merger are entrenched in the rationalisation business processes where the creation of a unified IS portfolio becomes vital. The consolidation of business units performing similar business functions in a horisontal merger creates a negative physiological environment to those affected by the change. A case study of a merged financial institution was conducted where the research explored factors affecting the rationalisation of business processes and IT systems when business units merge. The research questions to explore the factors are: 1) What are the factors affecting the business process and IT systems rationalisation when business units merge? 2) How does the rationalisation of business processes affect the IT systems in the merged financial institution?Politics and cultural differences are among the challenges experienced during the rationalisation process in the merged financial institution. Collaboration among professionals is important to ensure the success of IS implementation, thus corporate executives need to identify cultural differences during the pre-merger stage. The IT system chosen to consolidate legacy mainframe systems did not align with the organisation’s client centric strategy. Alignment can be strengthened by the collaboration of business and IT to ensure a common vision is achieved.
Wong, Fung-hing. "An HR perspective on mergers & acquisition : an AT & T case study /." Hong Kong : University of Hong Kong, 1996. http://sunzi.lib.hku.hk/hkuto/record.jsp?B18003035.
Full textHoffmann, Nils. "German buyouts adopting a buy and build strategy key characteristics, value creation and success factors /." Wiesbaden : Deutscher Universitäts-Verlag, 2008. http://dx.doi.org/10.1007/978-3-8349-9634-3.
Full textMeade, Nancy Margaret Lowman. "Antitakeover devices and firm performance : an empirical study using accounting measures /." Diss., This resource online, 1990. http://scholar.lib.vt.edu/theses/available/etd-08252008-162207/.
Full textThomas, Maricelle Casquejo. "A study of strategies for successful enterprise resource planning implementation in a merger and acqusition environment." CSUSB ScholarWorks, 2007. https://scholarworks.lib.csusb.edu/etd-project/3267.
Full textLin, Suzanne Ching-Fang. "Agency costs of free cash flow and the market for corporate control." University of Western Australia. School of Economics and Commerce, 2006. http://theses.library.uwa.edu.au/adt-WU2006.0042.
Full text馮錦躍(耀) and Kam-yiu Tommy Fung. "Mergers & acquisitions: management issues andstrategic implications in it organization : case study of acquisitionof Midland Bank by Hongkong Bank." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1996. http://hub.hku.hk/bib/B31267130.
Full textMuntingh, Le Roy. "The integration of Meridian Brokers (Pty) Ltd into Alexander Forbes Limited : a change process to incorporate the different cultures and management styles of these two companies to maximize the benefits of the merger." Thesis, Stellenbosch : Stellenbosch University, 2001. http://hdl.handle.net/10019.1/52542.
Full textENGLISH ABSTRACT: This project examines the implications of a merger of two companies, Alexander Forbes Limited and Meridian Brokers (Pty) Ltd. The emphasis of the study is the identification of the differences in corporate culture between the two organisations, and having done this identification, the selection of the change process required to facilitate the smoothest possible integration of the two companies. In the first instance the project research methodology is explained. The method of information gathering is done by means of questionnaires. Three major models which have been specifically designed to extract the necessary information are used in the project, namely the Beehive model, the Growth Curve model and the VISA model. Furthermore, the models to be used to drive the change process are also described in this initial stage. These models are the ESP of change and the ROP. During the next stage of the project the analyses of the data is done. The data is then compared in order to show certain differences between the cultures and management styles of the two organisations. The major differences between the two companies are then highlighted in graphic form to show where the emphasis must be laid during the change process, in order to create a new culture going forward. The final stages of this study project refer to the recommended change process for the integration. The emphasis here is to highlight what specific actions need to take place so that the new Alexander Forbes group can be an even stronger force to be reckoned with by becoming a globally competitive insurer. In conclusion the study project examines whether it has fulfilled its objective as set out initially, and whether there is cause for any other further study in this regard in the future.
AFRIKAANSE OPSOMMING: Die projek ondersoek die implikasies van 'n samesmelting van twee maatskappy, Alexander Forbes Beperk en Meridian Brokers (Edms) Bpk. Die doel van die studie is die identifikasie van die verskille in korporatiewe kultuur tussen die twee oorspronklike en deur die identifikasie te doen, die seleksie van die veranderingsproses vereis om die beste moontlike integrasie tussen die twee maatskappye to bewerkstellig. In die eerste plek word die projeknavorsingsmetode verduidelik. Die metode om inligting te versamel word gedoen deur vraelyste. Drie hoofmodelle, naamlik die Beehive model, die Growth Curve model en die VISA model, wat spesifiek ontwerp is om die nodige inligting te trek, word in die projek gebruik. Verder, modelle wat ook gebruik word om die veranderingsproses te dryf, word hier beskryf. Hierdie modelle is die ESP en die ROP. Gedurende die volgende fase van die projek word die analise van die data gedoen. Die data word dan vergelyk om sekere verskille tussen kulture en bestuursstyle van die twee maatskappye te wys. Die hoof verskille tussen die twee maatskappye word dan uitgewys in grafiese vorm om te wys waar die beklemtoning gelê moet word gedurende die veranderingsproses, om 'n nuwe kulturele vooruitgang te skep. Die finale stappe van die studie projek verwys na die aanbevele veranderings proses vir die integrasie. Die doel hier is om te beklemtoon watter spesifieke aksies nodig is om plaas te vind sodat die nuwe Alexander Forbes groep selfs 'n sterker mag kan wees, deur 'n globale mededingende versekeraar te word. In samevatting ondersoek die studieprojek of dit voldoen het aan sy doel soos eerstens uitgestip, en of daar enige rede is om 'n verdere studie in die verband in die toekoms te doen.
Volk, Jennifer M. "Do Investors View Excess Capacity as a Determinant of Mergers and Acquisitions in the Pharmaceutical and Biotechnology Industry?" Scholarship @ Claremont, 2010. http://scholarship.claremont.edu/cmc_theses/15.
Full textAl-Ghamdi, Salem Mater. "The strategic implementation of acquisitions: the impact of human resource factors on acquired firm employees' perception about acquisition success." Diss., Virginia Tech, 1994. http://hdl.handle.net/10919/40124.
Full textPh. D.
Myeni, Wiseman Bellingham Wanda. "The impact of food and beverage mergers on the shareholder value with specific reference to South Africa." University of South Africa, 2007. http://hdl.handle.net/10500/62.
Full textGraduate School of Business Leadership
MBL
Scholtz, Johan F. "Developing a practical approach to identify, select, design and manage strategic alliances." Thesis, Stellenbosch : Stellenbosch University, 2002. http://hdl.handle.net/10019.1/52760.
Full textENGLISH ABSTRACT: This Study Project attempted to understand and analyse the key elements of strategic alliances in order to develop a practical model and structured approach for business to successfully justify, identify, assess, select, implement and manage alliances that will create maximum value for all parties involved and enhance the likelihood of alliance success. The objective was to obtain an end-ta-end and integrated picture of how to successfully apply strategic alliance as a business tool in today's dynamic and challenging business environment. The study showed that companies of today are facing an overwhelming number of external and internal challenges and pressures. These challenges are putting increased pressure on companies' resources, skills, management and other capabilities to develop new strengths and deliver products and services quicker and at a lower cost. Traditional methods of addressing these challenges, such as internal resource development or acquisition of a business that possesses the required capabilities, are proving to be inadequate and often force companies to sacrifice essential elements such as: speed to market, organisational agility and control. Strategic alliances offer an alternative. Strategic alliances can offer significant advantages for companies who are lacking in particular competencies or resources by securing these through links with partners who possess complementary skills or assets and may also offer easier access to new markets and opportunities for mutual synergy and learning. Alliances will avoid the permanency of strategies such as mergers and acquisitions and enable two-directional exchange of resources and competencies as apposed to the pure financial nature of outsourcing. The first step in the alliance process is the formulation of the alliance strategy. The alliance strategy will dictate which partner and alliance form is most appropriate, what the company expects to get out of the alliance and how risks will be managed. The alliance strategy is a building block or extension of the corporate strategy and must be aligned with the mission, goals and objectives that were set by the strategic process. The formulation of the alliance strategy must be based on an analysis of the external market circumstances and the company's internal resources and competitive capabilities. By defining an alliance strategy the company ensures that all alliances-related activities are consistent and structured. Once the strategic alliance strategy, objectives and format has been determined the company can start to identify and select a partner that has got the ability and competency that is required by the alliance and at the same time has got a similar need to be involved in the alliance. Partner selection requires a structured process to ensure that the alliance strategy and selected form is translated into and represented by key business attributes or areas that are affected by the alliance. The organisation must be clear about what its strategic objectives are and what the partner profile is it is looking for. These objectives are linked to criteria or requirements that the potential partner must comply to, in order to meet the alliance objectives. The partners are now ready to determine how each organisation will engage with the other to reach common objectives of the alliance. This is achieved through a process of negotiation and work definition. The negotiation is 'non zero-sum based' which means that one company's gain is not at the loss of the other company. The alliance business plan is developed during this stage and acts as the blueprint of the future alliance operations. During this stage it is crucial that the leadership of the two companies is actively involved and visible in the process. Managing strategic alliances introduces a complex combination of new management challenges that often need to be coordinated and addressed. It is the alliance management's responsibility to establish a relationship of trust between the companies, address cultural issues and ensure that there is a continuous process of two-way learning. These solutions and the original alliance agreement will however be temporary because the alliance is founded upon relationships that have a dynamic of their own and are subject to the influence of external changes bearing on the alliance, which requires that the alliance needs to transform and adapt to these changes on a regular basis. Strategic alliances are certainly not a new concept in South Africa. But the adoption rate of strategic alliances seem to be slow compared to world standards and opportunities for both local and international alliances have not been capitalised on. Alliances can enable South African companies to remove unnecessary duplication between companies, access international skills and technology, build on synergies and reach global markets in a cost effective and swift way.
AFRIKAANSE OPSOMMING:Die doel van hierdie Studie Projek was om die sleutelkomponente van strategiese alliansies te ontleed en te verstaan om sodoende 'n praktiese model en gestruktureerde benadering vir besigheid te ontwikkel om alliansies suksesvol te kan regverdig, identifiseer, analiseer, selekteer, implementeer en bestuur om maksimum waarde vir alle partye betrokke te skep asook die alliansie se waarskynlikheid van sukses te verhoog. Die doelwit was om 'n geintegreerde end-tot-end beeld te verkry van hoe om strategiese alliansies suksesvol aan te wend as 'n besigheidsgereedskapstuk in vandag se dinamiese en uitdagende besigheidsomgewing. Die studie het gewys dat besighede van vandag 'n oorweldigende aantal eksterne en interne uitdagings en druk moet verwerk. Hierdie uitdagings sit toenemende druk op maatskappy hulpbronne, vaardighede, bestuur en ander bevoegdhede om nuwe sterkpunte te ontwikkel en produkte en dienste vinniger en teen laer koste te verskaf. Tradisionele metodes hoe om hierdie uitdagings te adresseer soos interne hulpbronontwikkeling of aanskaffing van 'n besigheid wat die nodige bevoegdheid besit, is bewys om onvoldoende te wees en forseer maatskappye gereeld om essensiële elemente soos: tyd na die mark, organisasie buigbaarheid en beheer op te offer. Strategiese alliansies bied 'n alternatief aan. Strategiese alliansies kan maatskappye wat 'n tekort het aan spesifieke vaardighede of hulpbronne, betekenisvolle voordele bied deur middel van 'n skakel met 'n vennoot wat oor komplementerende vaardigehede en hulpbronne beskik asook makliker toegang gee tot nuwe markte en geleenthede gebasseer op sinergië en kennis uitruil. Alliansies sal die permanentheid van strategië soos samesmeltings en aanwendings vermy en maak tweerigting uitruil van hulpronne en vaardighede moontlik teenoor the suiwer finansiële natuur van besigheid uitfaseer. Die eerste stap in die alliansie proses is die formulering van die alliansie strategie. Die alliansie strategie sal dikteer waarom een vennoot en alliansie vorm beter is as enige ander beskikbare opsie, wat die maatskappy verwag om uit die alliansie te kry en hoe risiko's bestuur sal word. Die alliansie strategie is 'n bou blok of verlenging van die korporatiwe strategie en moet belyn wees met die missie en doelwitte wat bepaal is gedurende die strategiese proses. Die formulering van die alliansie strategie moet gebasseer wees op 'n analiese van die eksterne markomstandighede en die maatskappy se interne hulpbronne en kompeternde vaardighede. Die definering van die alliansie strategie verseker dat alle alliansie-verwante aktiwiteite konsikwent en gestruktureerd gedoen word. Sodra die strategiese alliansie strategie, doelwitte en alliansie formaat bepaal is kan die maatskappy begin om 'n vennoot te identifiseer en te selekteer wat beskik oor die vermoë en vaardigehede wat benodig word deur die alliansie en terselftertyd ook 'n soortgelyke behoefte het om betrokke te raak by die alliansie. Vennootseleksie vereis 'n gestruktureerde proses om te verseker dat die alliansie strategie en geselekteerde form omgeskakel word in 'n en verteenwoordig word deur sleutel besigheidskenmerke of areas wat geaffekteer word deur die alliansie. Die besigheid moet duidelik wees oor wat die strategiese doelwitte is en wat die vennoot profiel is wat verlang word. Hierdie doelwitte word verbind aan kriteria of vereistes waaraan die voornemende vennoot moet voldoen om te verseker dat die alliansie doelwitte bereik word. Die venote is nou reg om te bepaal hoe elke organisasie met die ander sal handel om sodoende die ooreengekome doelwitte van die alliansie te bereik. Dit sal bereik word deur 'n proses van onderhandeling en werk definisie. Die onderhandelinge is nie gebasseer op wen en verloor nie, wat beteken dat een maatskappy se wins is nie die ander maatskappy se verlies nie. Die alliansie besigheidsplan word ontwikkel gedurende hierdie fase en dien as 'n uitleg vir die toekomstige alliansie funksies. Dit is krities dat die maatskappye se leiers aktief betrokke raak by die proses op hierdie tydstip. Die bestuur van strategiese alliansies stel bekend 'n komplekse kombinasie van nuwe bestuur uitdagings wat gekoordineer en geadresseer moet word. Dit is die verantwoordelikheid van die alliansie bestuur om 'n verhouding van vertroue tussen die organisasies te vestig, kulturele probleme te adresseer en te verseker dat daar 'n deurlopende proses van twee-rigting kennis uitruil is. Hierdie oplossings asook die oorspronklike alliansie ooreenkoms sal egter tydelik wees as gevolg van die feit dat die alliansie gebasseer is op verhoudinge wat dinamies is en afhanklik is van eksterme veranderinge wat 'n invloed het op die alliansie en vereis daarom dat die alliansie gedurig moet aanpas by die veranderinge. Strategiese alliansies is glad nie 'n nuwe konsep in Suid Afrika. Die aanneem tempo van strategiese alliansies in vergelyking met wêreld standaarde is egter heelwat stadiger en geleenthede vir beide plaaslike en internasionale alliansies is nog nie op gekapitaliseer nie. Alliansies stel Suid-Afrikaanse maatskappye in staat om onnodige duplikasie tussen mekaar te verwyder, toegang te kry tot internasionale vaardighede en tegnologie, te bou op sinergië en wereld markte te bereik in 'n koste effektiewe en spoedige wyse.
Rohrbach, Jan. "What makes a company attractive for a takeover?, or, The effect of a target's operating characteristics on the bidder's takeover-decision." Thesis, Stellenbosch : Stellenbosch University, 2003. http://hdl.handle.net/10019.1/53718.
Full textENGLISH ABSTRACT: This paper examines the effect a target's operating characteristics can have on the takeover-decision of a potential bidder. Consequently, the general socioeconomic changes within the takeover market and their consequences for companies acting within this hostile environment are described and the most common economic and non-economic motives of bidders as well as several distinctive target characteristics discussed. In particular, this study identifies and subsequently analyses 28 variables viewed to be potentially relevant for a bidder's takeover-decision. In order to obtain the best possible insights into the behavior of the identified variables and their particular influence on the likelihood of getting taken over, the specific variables are empirically tested on an individual level through the application of different nonparametric techniques as well as on a combined level through the performance of a binary logistic regression analysis. The empirical examination is based on a total of 804 observations gathered by Bloomberg L.P. for the pharmaceutical and the related health care sector and covers the period from 1996 to 2002. The results of the different testing methods, although subject to certain limitations, give reason to believe that there are indeed certain factors that can make companies more interesting for potential bidders. Therefore, a regular performance of 'target-self-tests' as suggested by the author is viewed to be paramount for an early anticipation of hostile takeover attempts and a timely establishment of adequate measures of defense, which as a consequence could contribute considerably to a decrease of a company's likelihood of getting taken over.
AFRIKAANSE OPSOMMING: Hierdie studie fokus op die effek wat 'n potensiele teiken se bedryfseienskappe op die oorname besluit van die organisasie wat die oorname oorweeg, kan hê. Gevolglik word die algemene sosio-ekonomiese veranderinge in die oorname mark en hulle gevolge vir maatskappy wat daarbinne opereer, bespreek. Verder word die mees algemene ekonomiese en nie-ekonomiese beweegredes van maatskappye wat oornames oorweeg asook verskeie onderskeidende eienskappe van teikenmaatskappye, ook bespreek. In besonder identifiseer en analiseer hierdie studie 28 veranderlikes wat potensieel relevant mag wees tydens 'n oorname besluit. Ten einde die bes moontlik insig te verkry oor die gedrag van die ge-identifiseerde veranderlikes en hulle spesifieke invloed op die waarskynlikheid van 'n oorname, word nie-parametriese tegnieke toegepas om op individuele en saamgestelde vlak die veranderlikes empiries te toets. Hierdie empiriese ondersoek is gebaseer op 'n totaal van 804 observasies soos versamel deur Blomberg L.P. vir die farmaseutiese en verwante gesondheidsorgsektore en strek oor die tydperk 1996 tot 2002. Die resultate van die onderskeie toetsmetodes - gegewe sekere beperkings - dui daarop dat daar inderdaad sekere faktore is wat maatskappye meer aantreklike teikens vir 'n potensiele oorname kan maak. Gevolglik beskou die navorser dit as belangrik dat sekere 'selftoetse' gereeld gedoen behoort te word. Dit kan dien as vroee waarskuwingsein met betrekking tot die waarskynlikheid van 'n vyandige oorname; en kan die geteikende maatskappy help om tydige verdedigingsmeganismes in plek te kry ten einde die waarskynlikheid van oorname beduidend te verminder.
Nkatsha, Thembinkosi Sydney. "Analysis of the implementation of corporate level strategy in a South Afircan furniture retailer." Thesis, Rhodes University, 2013. http://hdl.handle.net/10962/d1018272.
Full textDe, Sousa Vanessa Alexandre. "The impact of a merger on the motivational levels and organisational culture of amalgamated beverage industries employees in country region." Thesis, Bloemfontein : Central University of Technology, Free State, 2006. http://hdl.handle.net/11462/69.
Full textIn today’s dynamic and uncertain business environment, employees are required to work together to achieve a common goal. An organisation cannot survive without a highly motivated and progressive workforce. Management need to be highly innovative and adaptive, to survive the intensity of competition and change. This study is based on the conviction that enhancing and sustaining employee motivation is a manager’s major function. In effect, management need to create and maintain a culture that fosters motivation, and determine whether employees are culturally adaptable, when two established cultures merge as one. Against this background, the focus fell on attaining optimum performance and a culture that evokes a spirit of co-operation and is conducive to motivating employees to work willingly and effectively. The Amalgamated Beverage Industry was selected for the purpose of this study. The perceptions and opinions of management and that of the lower level employees were examined to determine the impact on the work motivational levels and organiastional culture within Country Region employees. A probable influence was also given on the possible factors contributing to the maintained level of organisational culture and the high motivational levels within ABI. Attention was also focused on culture change and its possible impact on employees.
Wang, Xiaokun, and 王曉坤. "Searching for the motives and effectiveness of Chinese mergers and acquisitions." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2007. http://hub.hku.hk/bib/B38481819.
Full textKnoll, Sebastian. "Cross-business synergies /." Wiesbaden : Gabler, 2008. http://d-nb.info/987653725/04.
Full textBeusch, Peter. "Contradicting management control ideologies : a study of integration processes following cross-border acquisitions of large multinationals /." Göteborg : BAS Publ, 2007. http://www.gbv.de/dms/zbw/548620407.pdf.
Full text王鳳馨 and Fung-hing Wong. "An HR perspective on mergers & acquisition: an AT & T case study." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1996. http://hub.hku.hk/bib/B31267749.
Full textFung, Kam-yiu Tommy. "Mergers & acquisitions : management issues and strategic implications in it organization : case study of acquisition of Midland Bank by Hongkong Bank /." Hong Kong : University of Hong Kong, 1996. http://sunzi.lib.hku.hk/hkuto/record.jsp?B17956778.
Full textLawani, Uyi. "The Value of Ties: Impact of Director Interlocks on Acquisition Premium and Post-acquisition Performance." Thesis, University of North Texas, 2014. https://digital.library.unt.edu/ark:/67531/metadc500147/.
Full textSoobader, Saleem Fazul-Haque. "Measuring the success of global oil and gas corporate mergers and acquisitions from a financial perspective." Thesis, Stellenbosch : Stellenbosch University, 2008. http://hdl.handle.net/10019.1/3148.
Full textENGLISH ABSTRACT: Successful merger and acquisitions (M & A) from a financial perspective increases shareholder value. This paper examines the effect of corporate mergers and acquisitions (M & A) on shareholder value. A discussion on shareholder value follows with reasons why companies choose M & A as a growth strategy. The type of M & A strategy affects the value it creates. A literature review of M & A activity during the five periods in the twentieth century, referred to as merger waves, provides an understanding of the conditions which precipitate M & A activity. However, failure of companies that engage in M & A activity has not resulted in a decline in the popularity of M & A. This study identifies and subsequently analyses data (profitability ratios) on 34 upstream oil and gas companies that have engaged in M & A activity. Profitability ratios indicate the financial performance of a company and ultimately shareholder value. In order to obtain the best possible insights into the behaviour of the identified variables and their impact on shareholder value, the specific variables are empirically tested over different time periods through the application of two statistical tests performed on the data. The empirical analysis is based on a total of 324 observations gathered by Evaluate Energy for global oil and gas companies and covers the period 1995 to 2005. The results of the different testing methods, although subject to certain limitations, give reason to believe that the M & A leads to an erosion of shareholder value. Hence the appropriate reasons for embarking on an M & A strategy and the comprehensive pre-acquisition evaluation thereof, is tantamount to M & A success.
AFRIKAANSE OPSOMMING: Vanuit ‘n finansiële oogpunt kan suksesvolle samesmeltings en aanskaffings (S & A) aandeelhouers-waarde verhoog en hierdie werkstuk ontleed die effek wat korporatiewe S & A’s op aandeelhouers-waarde het. ‘n Bespreking oor aandeelhouers-waarde volg en verskaf redes waarom maatskappye S & A’s as ‘n groeistrategie verkies en hoe die tipe S & A strategie wat gevolg word die waarde wat dit skep affekteer. Gedurende die 20ste eeu was daar vyf tydperke waarin S & A aktiwiteite hoog was, die sogenaamde “merger waves” en ‘n ontleding van literatuur gedurende hierdie tydperke verskaf ‘n begrip van die omstandighede wat aanleiding gee tot S & A aktiwiteite. Alhoewel sommige S & A’s onsuksesvol is, bly dit ‘n populêre keuse by maatskappye om aandeelhouers-waarde te probeer verhoog. Hierdie studie identifiseer en analiseer data (winsgewendheids-verhoudings) van 34 “upstream” olie- en gasmaatskappye wat een of ander tyd in ‘n S & A betrokke was. Winsgewendheids-verhoudings dui op die finansiële prestasie van maatskappye en uiteindelik op aandeelhouers-waarde. Ten einde die beste insae in die optrede van die geidentifiseerde veranderlikes en hul impak op aandeelhouers-waarde te kry, is die spesifieke veranderlikes numeries getoets oor verskillende tydperke deur middel van twee statistiese modelle. Die numeriese analises is gebaseer op 324 waarnemings deur Evaluate Energy op internasionale olie- en gasmaatskappye tussen 1995 en 2005. Die uitslae van die verskillende metodes van toets, ingesluit sekere beperkings, dui daarop dat S & A’s oor die algemeen lei tot ‘n vermindering in aandeelhouers-waarde en daarom is dit van kardinale belang om ‘n beproefde S & A strategie te ontwikkel voordat ‘n S & A aangepak word.
Karst, Rusty V. "Semiglobalization: Institutional Effects on Multilatina Cross-Border Acquisitions." Thesis, University of North Texas, 2016. https://digital.library.unt.edu/ark:/67531/metadc849693/.
Full textHopeck, Janell Marie. "Face-to-face communication versus memo communication to announce mergers and acquisitions the importance of media richness." CSUSB ScholarWorks, 2011. https://scholarworks.lib.csusb.edu/etd-project/140.
Full textLow, An Chee. "Two essays in corporate finance." Columbus, Ohio : Ohio State University, 2007. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=osu1186598647.
Full textWalters, Chrizelda, and H. D. Vos. "The role of interpersonal justice perceptions of employees during major organisational change due to a merger and acquisition." Thesis, Stellenbosch : University of Stellenbosch, 2005. http://hdl.handle.net/10019.1/14781.
Full text103 Leaves printed on single pages, preliminary pages i- viii and numbered pages 1-132. Includes bibliography, list of tables and figures. Digitized at 600 dpi grayscale to pdf format (OCR), using a Bizhub 250 Konica Minolta Scanner.
ENGLISH ABSTRACT: The research explored the role of interpersonal justice perceptions in an organisation undergoing change. Interpersonal justice was operationalised by dividing it into two components namely, social sensitivity and informational justice. The study falls within the qualitative and quantitative paradigm. The research was conducted at a South African financial institution undergoing change due to a merger and acquisition, and comprised of in-depth interviews as well as an exploratory survey. The sample consisted of 159 employees. The results confirm those of previous research studies regarding the relationship between interpersonal justice and job satisfaction. The results also showed that a difference in the interpersonal justice perceptions of employees at different job grades exists. Interpersonal justice perceptions are likely when employees believe that they personally are treated fairly and are being adequately informed of the changes in their organisation. This is of utmost importance if one is to create a just and efficient workforce during organisational change processes.
AFRIKAANSE OPSOMMING: Die navorsing het die rol van interpersoonlike geregtigheid persepsies in 'n organisasie wat verandering ondergaan ondersoek. Interpersoonlike geregtigheid was geoperasioneel deur dit te verdeel in twee komponente naamlik, sosiale sensitiwiteit en inligtings geregtigheid. Die studie val onder die kwalitatiewe en kwantitatiewe paradigma. Die navorsing was onderneem by 'n Suid-Afrikaanse finansiele instelling wat deur organisatoriese verandering gegaan het as gevolg van 'n samesmelting. Die navorsing het bestaan uit in diepte onderhoude asook 'n ondersoek opmeetinstrument. Die steekproef het bestaan uit 159 werknemers. Die resultate van die studie ondersteun die van vorige navorsing wat betref die verhouding tussen interpersoonlike geregtigheid en werkstevredenheid. Die resultate het ook getoon dat 'n verskil in die interpersoonlike geregtigheid persepsies van werknemers op verskillende posvlakke bestaan. Interpersoonlike geregtigheid persepsies is moontlik wanneer werknemers glo dat hulle met respek en regverdigheid behandel word. Werknemers moet ook genoegsaam ingelig word van die veranderinge in die organisasie om persepsies van interpersoonlike geregtigheid te ondervind. Dit is van uiterste belang gedurende organisatoriese veranderinge om 'n doeltreffende mannekrag waar geregtigheid geld te skep.
Peng, Sharona. "Achieving successful cross-cultural and management integration the experience of Lenovo and IBM : a thesis submitted to Auckland University of Technology in partial fulfilment of the requirements for the degree of Master of Business (MBus), 2008 /." Click here to access this resource online, 2008. http://hdl.handle.net/10292/486.
Full textDias, Jo??o Paulo Lopes. "Incorpora????es de empresas : a controladoria e o processo de consolida????o." FECAP - Faculdade Escola de Com??rcio ??lvares Penteado, 2007. http://132.0.0.61:8080/tede/handle/tede/440.
Full textThis paper focus on the analysis of Controlling area role in the administrative work efforts for the consolidation phase of a company merger, by identifying and evaluating specific variants in the organizational restructuring and Managerial Accounting Systems implementation or adaptation. The research is supported by bibliographic study, through concepts around the central subject. Also is based on a consolidation case study of a worldwide leader food ingredients company, in three subsidiaries located in South America. Complementarily is applied a survey with these consolidation processes participants, focusing to reinforce and validate found evidences. The case study presents elements that try to identify and measure relevancy levels of some variants, as well as, systems operational characteristics, planning and management, resources, organizational structure, organizational culture and knowledge retention, which can be part of the company consolidation processes and put on evidence the Controlling role. Finally, the deviation of the evaluation between the subsidiaries point out to critical factors which can impact the consolidation phase, as well as, merged subsidiary structure, available investments in the subsidiary and the subsidiary administration leadership in South America.
O presente trabalho procura analisar a atua????o da Controladoria na condu????o dos trabalhos administrativos na fase de consolida????o de uma empresa, identificando e avaliando as vari??veis espec??ficas presentes na reestrutura????o organizacional e implementa????o ou adequa????o de Sistemas de Informa????es Cont??beis Gerenciais (SIG). O estudo est?? embasado em pesquisa bibliogr??fica, atrav??s de conceitua????es acerca do tema central. Al??m disso, aborda estudo de caso de consolida????es de empresa l??der mundial do ramo de ingredientes para alimentos, em tr??s subsidi??rias localizadas na Am??rica do Sul. Complementarmente, aplica-se question??rio junto a participantes desse processo, na tentativa de refor??ar e validar as evid??ncias encontradas. A abordagem deste estudo de caso apresenta elementos que procuram identificar e mensurar n??veis de relev??ncia de algumas vari??veis, tais como caracter??sticas operacionais de sistemas, planejamento e gerenciamento, recursos, estrutura organizacional, cultura organizacional e reten????o de conhecimento, que podem fazer parte do processo de consolida????o de empresas e que evidenciam o papel da Controladoria. Finalmente, as varia????es de avalia????es entre as subsidi??rias apontam fatores cr??ticos que podem impactar a fase de consolida????o, tais como, estrutura da subsidi??ria incorporada, investimentos ?? disposi????o da subsidi??ria e lideran??a administrativa da subsidi??ria na Am??rica do Sul.
Eazell, Diane Patricia. "Justification for a credit union to charter a bank." CSUSB ScholarWorks, 2000. https://scholarworks.lib.csusb.edu/etd-project/1642.
Full textChiu, Hung. "Post-merger integration strategies : an integration process perspective." 2007. http://arrow.unisa.edu.au:8081/1959.8/50767.
Full textLung, Yun-Jye. "Risk assessment and post-merger integration : issues and research agenda ; Perceptions and attitudes towards risks arising from post-merger integration ; Literature survey of risk management of post-merger transition projects." 2007. http://arrow.unisa.edu.au:8081/1959.8/78838.
Full textThesis (DBA(DoctorateofBusinessAdministration))--University of South Australia, 2007
"Post-merger management in the advertising industry : a Zimbabwean example." Thesis, 2003. http://hdl.handle.net/10413/2762.
Full textThesis (MBA)-University of Natal, 2003.
Mokoena, Pinkie Lucia Jennifer. "Cleaners' perceptions of the pending municipal merger in the west rand." Thesis, 2018. https://hdl.handle.net/10539/26021.
Full textWhen change is introduced in the workplace, marginalized employees may develop a negative attitude towards the process due to ignorance and fear. The study aimed to explore the cleaning staffs’ perceptions on the municipal pre- mergers between two West Rand Municipalities. The focus study was to explore the cleaning staff members’ emotions and reactions towards the merger before it was to be implemented specifically focusing on their perceptions around job security, job responsibility, and communication. There is currently little research done on pre-mergers, especially between political organizations. The research followed a qualitative approach in a form of a case study. Face to face interviews were conducted with seventeen (17) cleaning staff from two Municipalities to collect data utilizing a self – developed, semi structured interview schedule. Sampling was done using a non-probability convenience sampling method. These employees are usually marginalized and have limited if any decision making powers in their working space. The data was analysed utilizing thematic analysis. The findings identified that even the most marginalized of employees could have an impact on change processes based on several factors and there is a relationship between a previous workplace change experience and a new one. The study transformed into a comparative study as marked differences emerged because one of the Municipalities had been through a merger previously and it had a different impact as compared to those who had not gone through the merger process previously. The findings revealed that communication strategies impact on the perceptions of all levels of employees regardless if they participate in the planning process of any organisational change process or not. Open communication and constant consultation by an employer was found to inspire employees to do well because they become confident of their future within the organization. The research findings carve a way to future pre- merger studies with deeper insight into the usually marginalized groups in the workplace.
MT 2018
"A comprehensive, holistic people integration process for mergers and acquisitions." Thesis, 2012. http://hdl.handle.net/10210/5992.
Full textThe purpose of this study was to build a comprehensive, holistic people integration process model for people integration during mergers and acquisitions (M&As). M&As is a popular and frequently used strategic initiative by organisations to grow their business. It has been estimated that 80% of M&As are unsuccessful in producing any shareholder value. In many cases lack of culture integration, a people aspect, is mentioned as one of the main reasons for M&A failure. Poor people integration during M&As is thus a major cause of M&A failure and motivated this research. The research objective was firstly, to build a model from current best practice in the M&A field. In building this model (Model P) inputs were received during interviews from experts and practitioners in the M&A field. The second research objective was to build a theoretical model (Model T) based on an in-depth literature review. The third research objective was to verify Model T with experts and practitioners in the M&A field. A questionnaire was distributed to experts and practitioners in the M&A field. The findings from the verification process were integrated with the findings from a comparison between Model T and Model P and a final model (Model TP) was built. The last research objective was to apply Model TP to two case studies in order to demonstrate the practical use of Model TP. The research process was completed upon arriving at Model TP and illustrated its practical use in the M&A field. The overall conclusion in the study was that the main difference between Model T and Model P turned out to be in the model design. Model T was based on an organic model design whereas Model P had a linear design. An organic model design was also chosen for Model TP. The reasons for choosing an organic model design were that this design emphasised the complex interrelationships and dynamic tension of the building blocks within the people integration model. That means that a change in any of the building blocks would impact on the other elements of the model. The contents of the models, i.e. the actual building blocks of the practice model and the theory model, were very similar. This implies that experts and practitioners in the M&A field have the necessary knowledge of what a successful people integration process entails. A comprehensive, holistic people integration process may not have been documented academically, but practitioners do have the knowledge of effective integration of people during M&As.
Mafihlo, Napo. "Reasons for failure in mergers and acquisitions." Thesis, 2006. http://hdl.handle.net/10413/1245.
Full textThesis (MBA)-University of KwaZulu-Natal, 2006.
Carayannopoulos, Sofy. "Sourcing knowledge : collaboration, firm acquisition and the knowledge-based view of the firm /." 2005. http://wwwlib.umi.com/cr/yorku/fullcit?pNR11555.
Full textTypescript. Includes bibliographical references (leaves 208-222). Also available on the Internet. MODE OF ACCESS via web browser by entering the following URL: http://wwwlib.umi.com/cr/yorku/fullcit?pNR11555
Maharaj, Chandradeep. "The valuation of the management buy-out of an unlisted company : (a case study)." Thesis, 2003. http://hdl.handle.net/10413/3871.
Full textThesis (MBA)-University of Natal, Durban, 2003.
Mansumitrchai, Somkiat. "Corporate diversification and the effects of firm characteristics on diversification modes U.S., European and Japanese firm behavior /." 2000. http://catalog.hathitrust.org/api/volumes/oclc/50266650.html.
Full textBosch, Aletta. "The effect of a merger in higher education on staff members: the importance of change management." Thesis, 2008. http://hdl.handle.net/10210/699.
Full textDr. M. Gous
Psychogios, Theodoros John. "The role of free cash flow and financial slack in takeovers : the Australian experience (1988-1997)." Master's thesis, 2001. http://hdl.handle.net/1885/147708.
Full textPowichit, Nattanan. "Corporate restructuring through corporate selloffs, spinoffs, and management buyouts in Australia." Master's thesis, 2003. http://hdl.handle.net/1885/151271.
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