Principles of Corporate Finance - 4/E

This paper examines the operating performance of a sample of Egyptian companies involved in Mergers and Acquisitions (M&A) transactions for the period 1996 to 2003. The analysis is based on the accounting measures to test the effects of M&A on the corporate performance of the construction and technology sectors. The study tests two hypotheses: first, whether there have been significant improvements in corporate performance following the M&A event, and second, whether the industry sector has an impact on the corporate performance. Empirical results revealed that some measures of corporate performance like profitability, suggested statistically significant gains in the years following M&A, especially in the construction sector. Other performance measures such as efficiency, liquidity, solvency, and cash flow position do not show significant improvements after mergers in the short-run analysis in both the sectors. The paper concludes that mergers in the Egyptian technology sector do not lead to improved corporate performance in the short run. The findings of this study significantly contribute to the empirical literature on M&A in the emerging markets of Egypt.

Exploring Improvements of Post-Merger Corporate Performance: The Case of Egypt

Financial institutions strength depends on activities that enable the institutions to maximize profits, increase customer base, and minimize costs and also a strong capital strength. In order for financial institutions to be the top provider of financial services mergers and acquisitions between institutions enables them to be innovative, customer focused towards delivery of products and services of superior quality and also delivering value to our shareholders through positive financial performance. This study examined the effect of mergers and acquisitions on the financial performance of financial institutions in Kenya. Mergers and acquisitions theories predict that the activities influence a firm's financial performance. The financial performance measures like ratios are considered essential indicators that capture the trend of the success or failures of the financial institutions. The performance can be either in the long term or short term. The research focused on the financial institutions in Kenya that have merged or being acquired from the period 2000 to 2010. The data that was used comprised of annual reports from the Central Bank of Kenya from the year 2000 to 2011 in order to meet the desired objective. The analysis of the financial institutions performance for pre and post merger periods was conducted to establish whether there was significant improvement of financial performance on areas of profitability, investment and liquidity. Secondary data was collected for 2 years pre and post merger and analyzed with the aid of statistical tools. The data analyzed are for different years since M&A take place at different years. The results of the data analyzed showed that Return on Asset and Return on Investment indicate a insignificant difference while Return on Equity and Debt Equity Ratio indicate significant difference between measures of performance before and after merger.

The effect of mergers and acquisitions on the financial performance of financial institutions in kenya

Effects of Mergers and Acquisitions on the Financial Performance of Insurance Companies in Kenya

This white paper describes the merger and acquisition and hedging of the investment portfolio. This report complements and strengthens our customers. Identify traditional talents and employment practices. This article looks at trends in the telecommunications industry.Keywords: mergers and acquisitions, investment portfolio, supplementation, reinforcement, traditional employment.

Mergers and Acquisitions in the Telecom Industry

................................................................................................................ xi CHAPTER ONE: INTRODUCTION ........................................................................ 1 1.1 Background of the Study ......................................................................................... 1 1.1.1 Mergers and Acquisitions ............................................................................ 2 1.1.2 Financial Performance ................................................................................. 3 1.1.3 The Relationship between Mergers and Acquisitions and Financial Performance ................................................................................................. 4 1.1.4 Petroleum Companies in Kenya................................................................... 5 1.2 Research Problem .................................................................................................... 6 1.3 Research Objective .................................................................................................. 8 1.4 Value of the Study ................................................................................................... 8 CHAPTER TWO: LITERATURE REVIEW ......................................................... 10 2.

Effects of Mergers and Acquisitions on Financial Performance of Petroleum Companies in Kenya

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Effects of Mergers and Acquisitions on Financial Performance of Petroleum Companies in Kenya