Determinants Of Cross-Border Mergers and Acquisitions (Cbmas) Performance in Five East Asian Countries
This study aims to investigate the determinants that caused the variations in the post-CBMA performance of the target firms in the five East Asian countries, namely Malaysia, Thailand, Indonesia, the Philippines and South Korea. Using a sample from 1998 to 2004, the ownership and target firms'...
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| Format: | Article |
| Language: | English |
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IEEE
2011
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| Online Access: | http://ir.unimas.my/id/eprint/16567/ http://ir.unimas.my/id/eprint/16567/1/DETERMINANTS%20OF%20CROSS-BORDER%20MERGERS%28abstract%29.pdf |
| _version_ | 1848838089880895488 |
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| author | Song, Saw-Imm Rashidah, Abdul Rahman Chu, Ei-Yet Kueh, Cheok-Choo |
| author_facet | Song, Saw-Imm Rashidah, Abdul Rahman Chu, Ei-Yet Kueh, Cheok-Choo |
| author_sort | Song, Saw-Imm |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | This study aims to investigate the determinants that caused the variations in the post-CBMA performance of the target firms in the five East Asian countries, namely Malaysia, Thailand, Indonesia, the Philippines and South Korea. Using a sample from 1998 to 2004, the ownership and target firms' characteristics are examined. A four-step hierarchical analysis was used with EFCFS (Excess free cash flow per share) as a dependent variable for the post-CBMA performance and independent variables including characteristics of targets (pre-CBMA) and ownership characteristics of the acquired (post-CBMA). The results show that the average EFCFS improved after CBMAs. The target characteristics such as pre-CBMA performance, the size of the targets, and the business relatedness between targets and acquirers have a significant effect on EFCFS. The positive effect of foreign majority control on post-CBMA performance nevertheless is contingent on the target characteristics‥ |
| first_indexed | 2025-11-15T06:50:01Z |
| format | Article |
| id | unimas-16567 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:50:01Z |
| publishDate | 2011 |
| publisher | IEEE |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-165672017-06-12T00:51:17Z http://ir.unimas.my/id/eprint/16567/ Determinants Of Cross-Border Mergers and Acquisitions (Cbmas) Performance in Five East Asian Countries Song, Saw-Imm Rashidah, Abdul Rahman Chu, Ei-Yet Kueh, Cheok-Choo HB Economic Theory This study aims to investigate the determinants that caused the variations in the post-CBMA performance of the target firms in the five East Asian countries, namely Malaysia, Thailand, Indonesia, the Philippines and South Korea. Using a sample from 1998 to 2004, the ownership and target firms' characteristics are examined. A four-step hierarchical analysis was used with EFCFS (Excess free cash flow per share) as a dependent variable for the post-CBMA performance and independent variables including characteristics of targets (pre-CBMA) and ownership characteristics of the acquired (post-CBMA). The results show that the average EFCFS improved after CBMAs. The target characteristics such as pre-CBMA performance, the size of the targets, and the business relatedness between targets and acquirers have a significant effect on EFCFS. The positive effect of foreign majority control on post-CBMA performance nevertheless is contingent on the target characteristics‥ IEEE 2011 Article PeerReviewed text en http://ir.unimas.my/id/eprint/16567/1/DETERMINANTS%20OF%20CROSS-BORDER%20MERGERS%28abstract%29.pdf Song, Saw-Imm and Rashidah, Abdul Rahman and Chu, Ei-Yet and Kueh, Cheok-Choo (2011) Determinants Of Cross-Border Mergers and Acquisitions (Cbmas) Performance in Five East Asian Countries. International Conference on Science and Social Research (CSSR), 2010. ISSN ISBN: 978-1-4244-8986-2 http://ieeexplore.ieee.org/document/5773690/ 10.1109/CSSR.2010.5773690 |
| spellingShingle | HB Economic Theory Song, Saw-Imm Rashidah, Abdul Rahman Chu, Ei-Yet Kueh, Cheok-Choo Determinants Of Cross-Border Mergers and Acquisitions (Cbmas) Performance in Five East Asian Countries |
| title | Determinants Of Cross-Border Mergers and Acquisitions (Cbmas) Performance in Five East Asian Countries |
| title_full | Determinants Of Cross-Border Mergers and Acquisitions (Cbmas) Performance in Five East Asian Countries |
| title_fullStr | Determinants Of Cross-Border Mergers and Acquisitions (Cbmas) Performance in Five East Asian Countries |
| title_full_unstemmed | Determinants Of Cross-Border Mergers and Acquisitions (Cbmas) Performance in Five East Asian Countries |
| title_short | Determinants Of Cross-Border Mergers and Acquisitions (Cbmas) Performance in Five East Asian Countries |
| title_sort | determinants of cross-border mergers and acquisitions (cbmas) performance in five east asian countries |
| topic | HB Economic Theory |
| url | http://ir.unimas.my/id/eprint/16567/ http://ir.unimas.my/id/eprint/16567/ http://ir.unimas.my/id/eprint/16567/ http://ir.unimas.my/id/eprint/16567/1/DETERMINANTS%20OF%20CROSS-BORDER%20MERGERS%28abstract%29.pdf |