Performance of domestic and cross-border acquisitions : empirical evidence from Russian acquirers

@inproceedings{Bertrand2011PerformanceOD,
  title={Performance of domestic and cross-border acquisitions : empirical evidence from Russian acquirers},
  author={Olivier Bertrand and Marie-Ann Betschinger},
  year={2011}
}
This paper investigates the impact of domestic and international acquisitions initiated by Russian firms on their operating performance. In general, acquisitions can be associated with synergy gains, internalisation advantages and higher market power. However, acquisitions may also give rise to agency problems as well as new integration and organisational costs, leading to an ambiguous overall impact on the performance of acquirers. Based on a sample of more than 600 acquirers we show that both… CONTINUE READING

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