Do telecom carrier takeovers create value? Longitudinal analysis of US telecom carrier takeovers from 1996 to 2005
DC Field | Value | Language |
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dc.contributor.author | Ryu, Min Ho | - |
dc.contributor.author | Yang, Shuying | - |
dc.contributor.author | Kim, Seongcheol | - |
dc.date.accessioned | 2021-09-02T10:40:09Z | - |
dc.date.available | 2021-09-02T10:40:09Z | - |
dc.date.created | 2021-06-19 | - |
dc.date.issued | 2018-06 | - |
dc.identifier.issn | 0308-5961 | - |
dc.identifier.uri | https://scholar.korea.ac.kr/handle/2021.sw.korea/75061 | - |
dc.description.abstract | Takeovers by telecommunications carriers have surged during between 1996 and 2005, stimulated by the Telecommunications Act of 1996. In this study, we hypothesize and test the short-term and long-term performance of telecommunications carrier mergers and acquisitions (M&As) between 1996 and 2005 according to three main categories (strategic types, bidder characteristics, and payment methods). For short-term performance, this study investigates abnormal market returns of bidding firms after M&A announcements and our study shows that telecommunications carrier M&A announcements do result in a significant increase in shareholder wealth in the short run. However, from a long-term perspective, which has been investigated in terms of the survival rate and the operating performance after M&As, the telcos experience a statistically significant decrease of up to 10%. The results also show that though strategic type, bidder characteristics, and payment method play an important role in the value creation of M&As in the short term, only the bidder size matters in the success of M&As over a long period of time. | - |
dc.language | English | - |
dc.language.iso | en | - |
dc.publisher | ELSEVIER SCI LTD | - |
dc.subject | CROSS-INDUSTRY MERGERS | - |
dc.subject | TELECOMMUNICATIONS INDUSTRY | - |
dc.subject | CORPORATE PERFORMANCE | - |
dc.subject | FIRM SIZE | - |
dc.subject | ACQUISITIONS | - |
dc.subject | VALUATION | - |
dc.title | Do telecom carrier takeovers create value? Longitudinal analysis of US telecom carrier takeovers from 1996 to 2005 | - |
dc.type | Article | - |
dc.contributor.affiliatedAuthor | Kim, Seongcheol | - |
dc.identifier.doi | 10.1016/j.telpol.2018.02.005 | - |
dc.identifier.scopusid | 2-s2.0-85042844488 | - |
dc.identifier.wosid | 000436903300005 | - |
dc.identifier.bibliographicCitation | TELECOMMUNICATIONS POLICY, v.42, no.5, pp.395 - 408 | - |
dc.relation.isPartOf | TELECOMMUNICATIONS POLICY | - |
dc.citation.title | TELECOMMUNICATIONS POLICY | - |
dc.citation.volume | 42 | - |
dc.citation.number | 5 | - |
dc.citation.startPage | 395 | - |
dc.citation.endPage | 408 | - |
dc.type.rims | ART | - |
dc.type.docType | Article | - |
dc.description.journalClass | 1 | - |
dc.description.journalRegisteredClass | scie | - |
dc.description.journalRegisteredClass | ssci | - |
dc.description.journalRegisteredClass | scopus | - |
dc.relation.journalResearchArea | Communication | - |
dc.relation.journalResearchArea | Information Science & Library Science | - |
dc.relation.journalResearchArea | Telecommunications | - |
dc.relation.journalWebOfScienceCategory | Communication | - |
dc.relation.journalWebOfScienceCategory | Information Science & Library Science | - |
dc.relation.journalWebOfScienceCategory | Telecommunications | - |
dc.subject.keywordPlus | CROSS-INDUSTRY MERGERS | - |
dc.subject.keywordPlus | TELECOMMUNICATIONS INDUSTRY | - |
dc.subject.keywordPlus | CORPORATE PERFORMANCE | - |
dc.subject.keywordPlus | FIRM SIZE | - |
dc.subject.keywordPlus | ACQUISITIONS | - |
dc.subject.keywordPlus | VALUATION | - |
dc.subject.keywordAuthor | Mergers and acquisitions | - |
dc.subject.keywordAuthor | U.S telecom carriers | - |
dc.subject.keywordAuthor | Shareholders&apos | - |
dc.subject.keywordAuthor | wealth | - |
dc.subject.keywordAuthor | Longitudinal financial performance | - |
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