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How far does financial reporting allow us to judge whether M&A activity is successful?

How far does financial reporting allow us to judge whether M&A activity is successful?

 Dargenidou, Christina.
 p467-p499 English
Kế toánTài chínhAcquisition.Mergers.Performance.
Tác giả CN Dargenidou, Christina.
Nhan đề How far does financial reporting allow us to judge whether M&A activity is successful? / Christina Dargenidou, Alan Gregory & Shan Hua
Mô tả vật lý p467-p499
Tóm tắt Evidence from share price returns suggests that acquisitions destroy value. On the other hand, evidence from accounting measures of performance suggests that acquisitions give rise to synergies and therefore potentially create value. In this paper, we first revisit the UK evidence using an updated sample, and confirm that these findings still hold, and importantly hold in the period following the introduction of FRS10. We then reconcile the (apparently conflicting) findings from these market-based and accounting-based approaches. Using accounting measures of performance, we confirm the presence of synergies developed during acquisitions. Finally we show that post-acquisition abnormal returns are associated with news of synergistic benefits conveyed in the financial statements
Thuật ngữ chủ đề Kế toán-Nghiên cứu-TV ĐHHN
Thuật ngữ chủ đề Tài chính-Nghiên cứu-TV ĐHHN
Từ khóa tự do Acquisition.
Từ khóa tự do Mergers.
Từ khóa tự do Performance.
Tác giả(bs) CN Shan, Hua.
Tác giả(bs) CN Gregory, Alan.
Nguồn trích Acounting and business research- 2016, Vol46, N.5
MARC
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100[ 1] |a Dargenidou, Christina.
245[1 0] |a How far does financial reporting allow us to judge whether M&A activity is successful? / |c Christina Dargenidou, Alan Gregory & Shan Hua
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362[ 0] |a Vol 46 (August 2016)
520[ ] |a Evidence from share price returns suggests that acquisitions destroy value. On the other hand, evidence from accounting measures of performance suggests that acquisitions give rise to synergies and therefore potentially create value. In this paper, we first revisit the UK evidence using an updated sample, and confirm that these findings still hold, and importantly hold in the period following the introduction of FRS10. We then reconcile the (apparently conflicting) findings from these market-based and accounting-based approaches. Using accounting measures of performance, we confirm the presence of synergies developed during acquisitions. Finally we show that post-acquisition abnormal returns are associated with news of synergistic benefits conveyed in the financial statements
650[1 7] |a Kế toán |x Nghiên cứu |2 TV ĐHHN
650[1 7] |a Tài chính |x Nghiên cứu |2 TV ĐHHN
653[ ] |a Acquisition.
653[ 0] |a Mergers.
653[0 ] |a Performance.
700[ 0] |a Shan, Hua.
700[ 1] |a Gregory, Alan.
773[ 0] |t Acounting and business research |g 2016, Vol46, N.5
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