Economic Consequences of Announcing Strategic Alternatives PDF Download
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Author: Jenny Zha Giedt
Publisher:
ISBN:
Category :
Languages : en
Pages : 58
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Book Description
How does a public announcement about a company exploring its potential sale or merger (“strategic alternatives”) affect the company and its shareholders? This study provides the first look at some of the positive and negative consequences to this unique disclosure of strategic alternatives. The inherent uncertainty in ex-post transactional outcomes--whether the firm is acquired, liquidated, or remains independent--allows me to estimate the disclosure's consequences on shareholder value which accrues differentially to these subsamples. I find that the announcement of strategic alternatives is associated with excess takeover-related gains for firms that are subsequently acquired but abnormal negative returns for firms that are not subsequently sold. Further results suggest a unique trade-off embodied by this disclosure: the announcement can generate greater investor attention and lead to a more informed M&A sale process (the benefit), while also being a costly admission of business problems that alienates stakeholders and wears on operations (the cost). These consequences that ultimately affect firm value underscore the cost-benefit trade-off managers should consider when making this disclosure decision.
Author: Jenny Zha Giedt
Publisher:
ISBN:
Category :
Languages : en
Pages : 58
Get Book Here
Book Description
How does a public announcement about a company exploring its potential sale or merger (“strategic alternatives”) affect the company and its shareholders? This study provides the first look at some of the positive and negative consequences to this unique disclosure of strategic alternatives. The inherent uncertainty in ex-post transactional outcomes--whether the firm is acquired, liquidated, or remains independent--allows me to estimate the disclosure's consequences on shareholder value which accrues differentially to these subsamples. I find that the announcement of strategic alternatives is associated with excess takeover-related gains for firms that are subsequently acquired but abnormal negative returns for firms that are not subsequently sold. Further results suggest a unique trade-off embodied by this disclosure: the announcement can generate greater investor attention and lead to a more informed M&A sale process (the benefit), while also being a costly admission of business problems that alienates stakeholders and wears on operations (the cost). These consequences that ultimately affect firm value underscore the cost-benefit trade-off managers should consider when making this disclosure decision.
Author: John E. Triantis
Publisher: CRC Press
ISBN: 1482219115
Category : Business & Economics
Languages : en
Pages : 439
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Book Description
Based on four decades of experience and research, Navigating Strategic Decisions: The Power of Sound Analysis and Forecasting explains how to improve the decision-making process in your organization through the use of better long-term forecasts and decision support. Filled with time-tested methodologies and models, it provides you with the tools to establish the organization, processes, methods, and techniques required for analyzing and forecasting strategic decisions. Describing how to foster the conditions required for forecasts to materialize, this book will help you rank project valuations and select higher value creation projects. It also teaches you how to: Assess the commercial feasibility of large projects Apply sanity checks to forecasts and assess their resource implications Benchmark best-in-class strategic forecasting organizations, processes, and practices Identify project risks and manage project uncertainty Analyze forecasting models and scenarios to determine controllable levers Pinpoint factors needed to ensure that forecasted future states materialize as expected This book provides you with the benefit of the author’s decades of hands-on experience. In this book, John Triantis shares valuable insights on strategic planning, new product development, portfolio management, and business development groups. Describing how to provide world-class support to your corporate, market, and other planning functions, the book provides you with the tools to consistently make improved decisions that are based on hard data, balanced evaluations, well considered scenarios, and sound forecasts.
Author: Gregory Werden
Publisher:
ISBN:
Category : Antitrust law
Languages : en
Pages : 66
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Book Description
Author: United States. Congress. Senate. Select Committee on Small Business
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 1584
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Book Description
Author: Donald DePamphilis
Publisher: Academic Press
ISBN: 0323910548
Category : Business & Economics
Languages : en
Pages : 609
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Book Description
Mergers, Acquisitions, and Other Restructuring Activities: An Integrated Approach to Process, Tools, Cases, and Solutions, Eleventh Edition presents the most current and comprehensive M&A information available. Organized according to the context in which topics normally occur in the M&A process, the book covers M&A environments, M&A processes, M&A valuation and modeling, deal structuring and financing strategies, and alternative business and restructuring strategies. Covering industries worldwide, this new edition illustrates the most germane strategies and tactics in today's marketplace. It includes substantially more ancillary materials than previous editions, including an extensive test bank, chapter summaries, and instructor and student PowerPoint slides. More than 100 new references to relevant academic research published since 2018 make the 11th edition a balanced, comprehensive guide to the complex and dynamically changing world of M&A. Provides a rigorous discussion on the strengths and limitations of financial modeling as applied to M&A Includes more than 270 empirical studies published in leading peer-reviewed journals published 2018-2020, all new since the 10th edition (2019) Presents updated M&A tactics and strategies as well as court cases and new regulations governing business combinations, valuation methodologies, and financing
Author:
Publisher:
ISBN:
Category : Power resources
Languages : en
Pages : 396
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Book Description
Author: National Intelligence Council
Publisher: Cosimo Reports
ISBN: 9781646794973
Category :
Languages : en
Pages : 158
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Book Description
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Author:
Publisher:
ISBN:
Category : Aeronautics
Languages : en
Pages : 788
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Book Description
Author:
Publisher:
ISBN:
Category : Power resources
Languages : en
Pages : 566
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Book Description
Author: Chien-Wen Kou
Publisher: Taylor & Francis
ISBN: 1000593037
Category : Political Science
Languages : en
Pages : 279
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Book Description
This book analyses the responses of middle powers in the Asia-Pacific toward the contemporary great powers’ rivalry of the United States and China, through specific cases studies of South Korea, Australia, Japan, India, Taiwan, and Vietnam. Presenting local perspectives from multiple middle powers as they face the task of maintaining the international order in light of the recent competition between China and the United States, it further develops theories of foreign policy analyses, forming a systematic framework through initiating crucial concepts, including reluctant hedging, economic statecraft, and strategic position-taking. The contributions also provide an in-depth examination of the contemporary geo-politics of the region, including the impact of both the Trump and Biden administrations, Beijing’s “Wolf Warrior” diplomacy, cross-strait relations with Taiwan, and the influences of Japan, Vietnam, Australia and South Korea, revealing that regional middle powers do indeed exert influence on the direction of regional cooperation in the Asia-Pacific. Providing comprehensive studies of many regional powers in the Asia-Pacific, this will be a valuable resource for scholars and students of International Politics, Asian Politics, Asian Studies as well as policy makers on Asia-Pacific relations.
