机构:
Univ N Texas, Coll Business, Dept Finance Insurance Real State & Law, Denton, TX 76201 USAUniv N Texas, Coll Business, Dept Finance Insurance Real State & Law, Denton, TX 76201 USA
Mantecon, Tomas
[1
]
机构:
[1] Univ N Texas, Coll Business, Dept Finance Insurance Real State & Law, Denton, TX 76201 USA
Compared to domestic acquisitions, cross-border acquisitions present greater challenges for buyers. This article analyzes the use of contingent payments, joint ventures, and toehold investments as potential mechanisms for reducing uncertainty in cross-border acquisitions. Toehold investments and earnout payments are associated with larger gains to buyers in domestic acquisitions, but not in cross-border acquisitions. The results indicate that joint ventures can be an effective mechanism to ameliorate the uncertainty associated with cross-border acquisitions in the presence of severe valuation uncertainties and country investment risks. (C) 2008 Elsevier B.V. All rights reserved.
机构:
Rensselaer Polytech Inst, Lally Sch Management & Technol, Troy, NY 12180 USAUS Dept Treasury, Off Comptroller Currency, Risk Anal Dept, Washington, DC 20219 USA
Francis, Bill B.
Hasan, Iftekhar
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机构:
Bank Finland, Helsinki 00101, Finland
Rensselaer Polytech Inst, Lally Sch Management & Technol, Troy, NY 12180 USAUS Dept Treasury, Off Comptroller Currency, Risk Anal Dept, Washington, DC 20219 USA
Hasan, Iftekhar
Sun, Xian
论文数: 0引用数: 0
h-index: 0
机构:
US Dept Treasury, Off Comptroller Currency, Risk Anal Dept, Washington, DC 20219 USAUS Dept Treasury, Off Comptroller Currency, Risk Anal Dept, Washington, DC 20219 USA
机构:
Rensselaer Polytech Inst, Lally Sch Management & Technol, Troy, NY 12180 USAUS Dept Treasury, Off Comptroller Currency, Risk Anal Dept, Washington, DC 20219 USA
Francis, Bill B.
Hasan, Iftekhar
论文数: 0引用数: 0
h-index: 0
机构:
Bank Finland, Helsinki 00101, Finland
Rensselaer Polytech Inst, Lally Sch Management & Technol, Troy, NY 12180 USAUS Dept Treasury, Off Comptroller Currency, Risk Anal Dept, Washington, DC 20219 USA
Hasan, Iftekhar
Sun, Xian
论文数: 0引用数: 0
h-index: 0
机构:
US Dept Treasury, Off Comptroller Currency, Risk Anal Dept, Washington, DC 20219 USAUS Dept Treasury, Off Comptroller Currency, Risk Anal Dept, Washington, DC 20219 USA