Examination of japanese firms’ announcement of m&a budgets: From the perspective of signaling theory and impression management theory

Katsuhiko Shimizu, Daisuke Uchida

研究成果: Chapter

抄録

In the rapidly changing and globalizing environment, mergers and acquisitions (M&As) have become increasingly important. In this study, we paid specific attention to the voluntary announcements of M&A budgets by Japanese firms. We discussed the antecedents and consequences of such announcements by incorporating the context of Japan, which has experienced an enduring economic downturn since 1990 and is in the process of adopting a Western style of governance. Drawing on signaling theory and impression management theory, this exploratory study intended to contribute to the literature by incorporating the influence of the social context and by arguing for the possibility that announcements of M&A budgets may be used not only for strategic purposes but also for impression management and to reduce information asymmetry.

本文言語English
ホスト出版物のタイトルAdvances in Mergers and Acquisitions
出版社Emerald Group Publishing Ltd.
ページ53-73
ページ数21
DOI
出版ステータスPublished - 2018

出版物シリーズ

名前Advances in Mergers and Acquisitions
17
ISSN(印刷版)1479-361X

ASJC Scopus subject areas

  • ビジネスおよび国際経営

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