Firm Acquisitions by Family Firms: A Mixed Gamble Approach

Firm Performance, Entrenchment and Managerial Succession in Family Firms

This paper investigates whether the family status of a company’s top officer affects managerial replacement decisions in UK firms. We report evidence that family firms are characterized by higher levels of board control and weak internal governance in the form of independent company board structures. Consistent with a managerial entrenchment hypothesis, we find evidence that family CEOs are les...

Cross Border Mergers and Acquisitions by Indian firms-An Analysis of Pre and Post Merger performance

The corporate sector all over the world is restructuring its operations through different types  of  consolidation  strategies  like  mergers  and  acquisitions  in  order  to  face challenges  posed  by  the  new  pattern  of  globalization,  which  has  led  to  the  greater integration of national and international markets.. The intensity of cross-border operations recorded an unprecedented ...

Cross-Border Mergers and Acquisitions of Multinational Firms. New Firm-Level Evidence

Mergers and Acquisitions (M&AS) by R&D Intensive Firms

In this study, we evaluate the impact of R&D intensity on acquiring firms’ abnormal returns by examining 925 Canadian completed deals between 1993 and 2002 that have information on R&D expenditures. While examining the returns to acquiring firm shareholders in the R&D intensive firms we evaluate two competing hypotheses: ‘growth potential hypothesis’ and ‘integration failure hypothesis’. Accord...

Corporate Governance Provisions, Family Involvement, and Firm Performance in Publicly Traded Family Firms

This study examines the moderation effects of corporate governance provisions on the link between family involvement (i.e., family ownership and family management) in publicly-traded firms and firm performance by drawing upon agency theory, with a focus on principal-principal agency issues, and the extant family governance literature. We develop and test the hypotheses on 386 of the S&P 500 fir...