カシフ　アハマド   Kashif Ahmed   カシフ・アハマド    所属   京都外国語大学  外国語学部 英米語学科    職種   講師
言語種別	英語
発行・発表の年月	2023/01
形態種別	論文
査読	査読あり
標題	Influence of target industry growth on premiums in cross-border acquisitions
執筆形態	共著
掲載誌名	Multinational Business Review
掲載区分	国外
巻・号・頁	31(2),pp.242-265
著者・共著者	Bebenroth, R.* & Ahmed, K.
概要	This study applies the knowledge-based view to clarify how target industry growth affects premiums in cross-border acquisitions. Focusing on 209 deals made by G7-country firms from 2012–2019, we test hypotheses using generalized estimation equations. The results show that growth in the target’s industry increases premium payments. Additionally, the growth of the acquirer’s industry and the level of acquirer slack moderate this effect. These findings indicate that industry conditions matter even when targets are located abroad. Unlike prior work, this study is the first to analyze premiums across numerous cross-border deals by hand-collecting nine years of sales data for 53 industries in each G7 country. The results underscore that target industry growth is an important determinant of acquisition premiums.
DOI	https://doi.org/10.1108/MBR-06-2022-0088
researchmap用URL	https://doi.org/10.1108/MBR-06-2022-0088