Konferenzbeitrag
Analysis of glamorous acquisitions in the telecommunications sector: Overvaluation or success?
This article analyses the performance and value creation of the glamorous operations of mergers and acquisitions (M&A) in the telecommunications sector, trying to understand if the glamour company´s M&A operations conduct to the stockholder wealth maximization, and the role of acquirer´s characteristics and its behaviour as glamour firm. After calculating the abnormal returns of telecommunications M&A from 2000 to 2010 and evaluating the value creation/destruction of these operations, we conclude that glamour tends to be opposite to value creation in the long run. The glamour firms show significant value destruction in certain timeframes and worse performance than non-glamour firms. From our analysis, it is evident that certain acquirers´ characteristics, such as size, are determinant in the glamour behavior. Related to this, the influence of the intangible assets (and particularly the intangible ratio) is a new contribution from this analysis.
- Sprache
-
Englisch
- Erschienen in
-
Series: 28th European Regional Conference of the International Telecommunications Society (ITS): "Competition and Regulation in the Information Age", Passau, Germany, 30th July - 2nd August, 2017
- Klassifikation
-
Wirtschaft
Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
Telecommunications
- Thema
-
Mergers and Acquisitions
Glamorous Acquisitions
Strategy
Value creation
Telecommunications
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Navío-Marco, Julio
Serrano Calle, Silvia
Solórzano-García, Marta
- Ereignis
-
Veröffentlichung
- (wer)
-
International Telecommunications Society (ITS)
- (wo)
-
Calgary
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Konferenzbeitrag
Beteiligte
- Navío-Marco, Julio
- Serrano Calle, Silvia
- Solórzano-García, Marta
- International Telecommunications Society (ITS)
Entstanden
- 2017
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