Value creation through external growth strategy: the architecture of successful performance

Veronika Vinogradova ()
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Veronika Vinogradova: Freie Universität Berlin

Review of Quantitative Finance and Accounting, 2018, vol. 51, issue 3, No 10, 847-882

Abstract: Abstract This paper is concerned with profitable external growth and proposes an empirical model outlining the major determinants of its success. The results of analysis of the unique sample of strategic growth acquisitions completed from 2000 to 2010 suggest that the success of transaction is determined not only by external factors but also by the pre-event fundamental performance of participating companies. Taken together they present the performance measures for a profitable sustainable growth and encourage executives to “lead for value”.

Keywords: Growth strategy; Corporate M&A; Profitable growth; Shareholder value creation; Valuation (search for similar items in EconPapers)
JEL-codes: G14 G32 G34 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1007/s11156-017-0690-5

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