International Business Management

Year: 2015
Volume: 9
Issue: 1
Page No. 41 - 53

An Analysis of the Effectiveness of the M&A Strategy of a Diversified Company (Unilever Group Case Study)

Authors : VarvaraNazarova

References

Berger, P.G. and E. Ofek, 1995. Diversification's effect on firm value. J. Fin. Econ., 37: 39-65.
CrossRef  |  Direct Link  |  

Brigham, E.F., 2004. Intermediate Financial Management. The Dryden Press, New York.

Campa, J.M. and S. Kedia, 2002. Explaining the diversification discount. J. Fin., 57: 1731-1762.
CrossRef  |  

DePamphilis, D.M., 2010. Mergers, Acquisitions and other Restructuring Activities. 5th Edn., Academic Press, San Diego.

Doukas, J.A. and O.B. Kan, 2006. Does global diversification destroy firm value? J. Int. Bus. Stud., 37: 352-371.
CrossRef  |  

Erdorf, S., T. Hartmann-Wendels, N. Heinrichs and M. Matz, 2013. Corporate diversification and firm value: A survey of recent literature. Fin. Markets Portfolio Manage., 27: 187-215.
CrossRef  |  Direct Link  |  

Fauver, L., J.F. Houston and A. Naranjo, 2004. Cross-country evidence on the value of corporate industrial and international diversification. J. Corporate Fin., 10: 729-752.
CrossRef  |  Direct Link  |  

Graham, J.R., M.L. Lemmon and J.G. Wolf, 2002. Does corporate diversification destroy value? J. Fin., 57: 695-720.
CrossRef  |  Direct Link  |  

Grant, R., 2012. Contemporary Strategy Analysis. 8th Edn., A John Wiley and Sons, Ltd., New York.

Grigoriady, E., 2009. Empiric analysis of corporate diversification efficiency at growing capital markets as exemplified by BRIC group. Econ. J. Higher School Econ., 3: 360-382.

Jones, G. and P. Miskell, 2007. Acquisitions and firm growth: Creating unilever's ice cream and tea business. Bus. History, 49: 8-28.
Direct Link  |  

Kuppuswamy, V., 2010. Does diversification create value in the presence of external financing constraints? Evidence from the 2007-2009 financial crisis. HBS Working Paper, 10-101, pp: 1-55. http://www.hbs.edu/faculty/Publication%20Files/10-101.pdf.

Kuppuswamy, V., G. Serafeim and B. Villalonga, 2012. The effect of institutional factors on the value of corporate diversification. Harvard Business School Working Paper, No. 13-022, August 2012.

Lang, L.H.P. and R.M. Stulz, 1994. Tobin's Q, corporate diversification and firm performance. J. Political Econ., 102: 1248-1280.
Direct Link  |  

Lee, K.T., C.W. Hooy and G.K. Hooy, 2012. The value impact of international and industrial diversifications on public‐listed firms in Malaysia. Emerg. Markets Rev., 13: 366-380.
CrossRef  |  Direct Link  |  

MacKinlay, A.C., 1997. Event studies in economics and finance. J. Econ. Literat., 35: 13-39.
Direct Link  |  

Maksimovic, V. and G. Phillips, 2001. The market for corporate assets: Who engages in mergers and asset sales and are there efficiency gains? J. Finance, 56: 2019-2065.
CrossRef  |  Direct Link  |  

Maksimovic, V. and G. Phillips, 2006. Conglomerate firms and internal capital markets. Working Paper Series. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=946421.

Mielcarz, P. and E. Roman, 2012. Using the idea of market-expected return rates on invested capital in the verification of conformity of market evaluation of stock-listed companies with their intrinsic value. Bus. Manage. Educ., 10: 11-24.
CrossRef  |  Direct Link  |  

Scharfstein, D.S. and J.C. Stein, 2000. The dark side of internal capital markets: Divisional rent-seeking and inefficient investment. J. Fin., 55: 2537-2564.
CrossRef  |  Direct Link  |  

Shamraeva, S., 2010. Costs and benefits of corporate diversification. Corporate Fin., 2: 36-45.

Shleifer, A. and R.W. Vishny, 1988. Value maximization and the acquisition process. J. Econ. Perspect., 2: 7-20.
Direct Link  |  

Villalonga, B., 1999. Does diversification cause the diversification discount? Anderson Graduate School of Management, University of California, Los Angeles.

Design and power by Medwell Web Development Team. © Medwell Publishing 2024 All Rights Reserved