Originally published as Managerial Finance Volume 34 Issue 4 2008
ISBN: 978 1 84663 778 0
Guest edited by: Enrico Moretto
The aim of this issue of Managerial Finance is to contribute filling the gap that exists in the financial literature regarding models for exchange ratio determination in mergers. Essays cover such issues as shareholder value as a result of merging and the advantages of listed companies.
- Foreword Enrico Moretto
- "A Note on Mergers and Acquisitions" – Margherita Cigola and Paola Modesti
- "Exchange Ratios in a Merger with Stochastic Capital Reserves: Fair Valuation and Embedded Options" – Bruno Giacomello
- "Synergies, Shareholder Value and Exchange Ratios in 'Value Creating' Mergers – Why Shareholders Should Doubt Management’s Pre-Merger Promises" – Wolfgang Kürsten
- "Exchange Ratio Determination in a Market Equilibrium" – Enrico Moretto and Stefano Rossi
- "The Alchemy of Acquisition Currency: Exclusive Advantages of Listed Companies" – Giulio Tagliavini
Contents:
Though the authors’ backgrounds vary from corporate and empirical finance to
mathematics, their contribution, considered as a whole, gives room to a
positive "synergy effect", something a real-life merger should bring. The final
judgment is anyway left to the reader.
About Managerial Finance
Managerial Finance aims to provide an international forum for the publication of high quality research in: finance, financial management, international finance, economics, banking, financial markets, financial institutions, financial strategy, accounting and management information. The journal aims to answer the questions that are central to the operations of today’s industries and their financial management.
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