Prior research on the success of cross-border acquisitions and its determinants


The purpose of this chapter is to provide a concise overview of the results of previous research on the success of cross-border mergers and acquisitions. The review of prior studies focuses on the methodologies used for measuring success (Section 4.3) and the accumulated evidence (i) proving if and to what extent transactions were successful (Section 4.4) and (ii) suggesting which characteristics of the acquiring and target companies and the transaction structures make it more likely that a particular transaction will be successful (Section 4.5). A condensing of the empirical results into testable hypotheses with regard to the goal of this study to analyze the success and its determinants of U.S. acquisitions by German companies will conclude this review (Section 4.6).


Abnormal Return Share Price Event Window Cumulative Abnormal Return Shareholder Wealth 
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© Deutscher Universitäts-Verlag | GWV Fachverlage GmbH, Wiesbaden 2007

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