Publications

By Chenxi Guo, Ping Lv Abstract Prior research suggests that international experience only are directly learnt by firms’ international operations. In this study, we argue that majority shareholders are part and parcel of the network of internal and external international experience. Based on the sample of 307 cross-border M&A of 741 majority shareholders in 188 Chinese listing enterprises … Read more

By Onur Erzan and Bryce Klempner – McKinsey & Company The president of TIAA-CREF Asset Management talks about why the industry is likely to see more tie-ups, how to prepare for big deals, and why finding growth depends on what you’re good at. Rob Leary joined the Teachers Insurance and Annuity Association of America–College Retirement Equities Fund (TIAA-CREF) in June 2013. Less … Read more

By Baker & McKenzie EXECUTIVE SUMMARY The fundamental drivers of global transactions are pointing to a continued strong upturn in M&A and IPOs over the next three years. Global economic growth is expected to accelerate, and low interest rates and easy credit conditions in key countries are likely to maintain upward momentum in equity markets.  Many … Read more

Eine Analyse wichtiger Finanzkennzahlen für die Geschäftsjahre 2012, 2013 und 2014 By Erich Lehner – Ernst & Young Design der Analyse ► Quellen: Geschäftsberichte, Pressemitteilungen der Unternehmen, SEC-Filings. ► Analysiert wurden die Pharma-Umsätze der 20 weltweit umsatzstärksten börsennotierten Pharma-Unternehmen. Branchenfremde Aktivitäten sind nicht in die Analyse eingeflossen. ► Die Angaben beziehen sich auf die Geschäftsjahre 2012, 2013 und 2014. ► Als „Top 10“ … Read more

By Paul Elie, Harry Gruits and Christopher Becker– PricewaterhouseCoopers Year in Review 2014 – 365 days, 543 deals, $38.7 billion total aggregate disclosed value Overview For the first time in three years, 2014 marked an increase in M&A activity. The notable uptick registered across the board in deal volume, value and size. These indicators suggest the overall strength of the automotive industry … Read more

By Pat Graham, Emily Sheeren – McKinsey & Company M&A may help address challenges facing oil and gas companies in today’s low oil price climate. We identify seven best practices in planning and execution that are essential to capturing full value from M&A. The recent collapse in the oil price has further intensified pressure on cash flows in an industry … Read more