Spillover Effect of M&A Announcements on Acquiring Firms’ Rivals: Evidence from India (Record no. 52395)
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| fixed length control field | 02000nam a2200229 4500 |
| 003 - CONTROL NUMBER IDENTIFIER | |
| control field | OSt |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20190808173811.0 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION | |
| fixed length control field | 190808b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Ranju, P. K. |
| 9 (RLIN) | 34129 |
| 245 ## - TITLE STATEMENT | |
| Title | Spillover Effect of M&A Announcements on Acquiring Firms’ Rivals: Evidence from India |
| 300 ## - PHYSICAL DESCRIPTION | |
| Extent | 692–707 p. |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc | Motivated by the paucity of empirical studies examining the impact of mergers and acquisition (M&A) announcements on the acquiring firms’ rivals, we made an attempt to uncover the spillover effect of M&A announcements on the stock market reaction of acquiring firms’ rivals. Using a sample of 97 M&A announcements during the period from April 2014 to March 2016 and 179 rivals of acquirers, we found that acquiring firms and acquiring firms’ rivals react positively to the announcement of M&As. The results of the disaggregated analysis suggest that horizontal M&As do not result in a significant positive reaction of acquiring firms’ rivals. Therefore, this study does not support the collusion theory. We also found negative (insignificant) stock market reaction of acquiring firms’ rivals upon the announcement of cross-border M&As. However, overall results show that acquiring firms’ rivals react positively to the announcement of M&As. This significant positive reaction of acquiring firms’ rivals goes in line with signalling theory. Thus, we argue that M&A announcements signal information regarding the growth potential of rivals, which results in positive stock market reaction of acquiring firms’ rivals upon the M&A announcements. |
| 653 ## - INDEX TERM--UNCONTROLLED | |
| Uncontrolled term | M&As, |
| Uncontrolled term | Event study methodology |
| Uncontrolled term | Signalling theory |
| Uncontrolled term | acquirers, rivals, |
| Uncontrolled term | Spillover |
| Uncontrolled term | Stock market reaction |
| 700 ## - ADDED ENTRY--PERSONAL NAME | |
| Personal name | Mallikarjunappa, T. |
| 9 (RLIN) | 34130 |
| 773 0# - HOST ITEM ENTRY | |
| Host Biblionumber | 29349 |
| Host Itemnumber | 75297 |
| Main entry heading | BANIK, ARINDAM |
| Place, publisher, and date of publication | NEW DELHI SAGE PUBLISHING PVT. LTD. |
| Other item identifier | 55510583 |
| Title | GLOBAL BUSINESS REVIEW |
| International Standard Serial Number | 0972-1509 |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) | |
| Source of classification or shelving scheme | Dewey Decimal Classification |
| Koha item type | Journal Article |
| Withdrawn status | Lost status | Source of classification or shelving scheme | Damaged status | Not for loan | Home library | Current library | Date acquired | Total Checkouts | Full call number | Barcode | Date last seen | Price effective from |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dewey Decimal Classification | Main Library | Main Library | 08/08/2019 | Vol 20, No 3/ 55510583JA8 | 55510583JA8 | 08/08/2019 | 08/08/2019 |