The Indian economy has undergone a major transformation and structural change
during the past decade or so as a result of economic reforms introduced by the
Government of India since 1991 in the wake of policy of economic liberalization and
globalization. In this liberalized era, size and "core competence" have become the
focus of every business enterprise. Naturally, this requires companies to grow and
expand in businesses that they understand well. Thus, leading corporate houses have
undertaken a massive restructuring exercise to create a formidable presence in their core areas of interest. Mergers and acquisitions (M&As) is one of the most effective methods of corporate restructuring and has, therefore, become an integral part of the long-term business strategy of corporate.
The M&A activity has its impact on various diverse groups such as corporate
management, shareholders and investors, investment bankers, regulators, stock
markets, customers, government and taxation authorities, and society at large.
Therefore, it is not surprising that it has received considerable attention at the hands of researchers world over. A number of studies have been carried out abroad
especially in the developed capital markets of Europe, Australia, Hong Kong, and US.
These studies have largely focused on different aspects, viz., (a) the rationale of
M&As, (b) allocational and redistribution role of M&As, (c) effect of takeovers on
shareholders' wealth, (d) corporate financial performance, etc. Some studies have
also been carried out to predict corporate takeovers using financial ratios. M&As,
being a new phenomenon in India, has not received much attention of researchers.
In fact, no comprehensive study has been undertaken to examine various aspects
especially after the Takeover Code came into being in1997. This study has been
undertaken to fill this gap.
Until upto a couple of yea Indian companies having acquired American-European entities was very rare. However, this scenario has taken a sudden U turn. Nowadays, news of Indian Companies acquiring foreign businesses are more common than other way round.
Download Full Project Report
during the past decade or so as a result of economic reforms introduced by the
Government of India since 1991 in the wake of policy of economic liberalization and
globalization. In this liberalized era, size and "core competence" have become the
focus of every business enterprise. Naturally, this requires companies to grow and
expand in businesses that they understand well. Thus, leading corporate houses have
undertaken a massive restructuring exercise to create a formidable presence in their core areas of interest. Mergers and acquisitions (M&As) is one of the most effective methods of corporate restructuring and has, therefore, become an integral part of the long-term business strategy of corporate.
The M&A activity has its impact on various diverse groups such as corporate
management, shareholders and investors, investment bankers, regulators, stock
markets, customers, government and taxation authorities, and society at large.
Therefore, it is not surprising that it has received considerable attention at the hands of researchers world over. A number of studies have been carried out abroad
especially in the developed capital markets of Europe, Australia, Hong Kong, and US.
These studies have largely focused on different aspects, viz., (a) the rationale of
M&As, (b) allocational and redistribution role of M&As, (c) effect of takeovers on
shareholders' wealth, (d) corporate financial performance, etc. Some studies have
also been carried out to predict corporate takeovers using financial ratios. M&As,
being a new phenomenon in India, has not received much attention of researchers.
In fact, no comprehensive study has been undertaken to examine various aspects
especially after the Takeover Code came into being in1997. This study has been
undertaken to fill this gap.
Until upto a couple of yea Indian companies having acquired American-European entities was very rare. However, this scenario has taken a sudden U turn. Nowadays, news of Indian Companies acquiring foreign businesses are more common than other way round.
Download Full Project Report
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