Performance and value implications of cross-border acquisitions in telecommunications industry : the case of US Telecom companies

dc.contributor.authorAybar, C. Bulent
dc.contributor.authorKan, Ozgur Berk
dc.date.accessioned2010-11-03T15:56:54Z
dc.date.available2010-11-03T15:56:54Z
dc.date.issued2003-07
dc.descriptionVersion of Record
dc.description.abstractThis study analyzes the impact of cross-border acquisitions of US Telecom Operators on the shareholder value and firm performance. We analyzed the value implications of 33 acquisitions made by US Telecommunication companies in 18 countries located in North America, Europe, Latin America and Asia Pacific. While 15 of the target companies were domiciled in developed countries, 18 were located in Latin American and Asian emerging markets. Total value of acquisitions included in the sample was $12.3bn with a mean transaction value of $363.8m. Our small sample analyses revealed that cross-border acquisitions of US Telecom companies on the average did not create value for the shareholders. We also could not identify any significant performance improvements in the post acquisition period. An interesting result of our empirical analysis was the finding that acquisitions of targets in emerging markets generated higher cumulative abnormal returns than the targets in developed country markets.en_US
dc.description.bibliographicCitationAybar, C. B. & Kan, O. B. (2003, July). Performance and value implications of cross-border acquisitions in the telecommunications industry: The case of US Telecom multinationals. Paper presented at the Annual Meeting of the Academy of International Business, Monterey California. Retrieved from http://academicarchive.snhu.eduen_US
dc.format.extent333825 bytesen_US
dc.format.mediaTypeapplication/pdfen_US
dc.identifier.urihttps://hdl.handle.net/10474/1279
dc.language.isoen_USen_US
dc.publisherSouthern New Hampshire Universityen_US
dc.relation.requiresAdobe Acrobat Readeren_US
dc.rightsAuthors retain all ownership rights. Further reproduction in violation of copyright is prohibiteden_US
dc.rightsHolderAybar, C. Bulent
dc.rightsHolderKan, Ozgur Berk
dc.subject.othertelecommunicationsen_US
dc.subject.otherinternational financeen_US
dc.subject.othercorporate acquisitionsen_US
dc.titlePerformance and value implications of cross-border acquisitions in telecommunications industry : the case of US Telecom companiesen_US
dc.typeConference Paperen_US
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