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Determinants of the wealth effects resulting from direct foreign investments: 1980-1989
| Title: | Determinants of the wealth effects resulting from direct foreign investments: 1980-1989. |
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| Name(s): |
Picou, Armand E. Florida Atlantic University, Degree Grantor Madura, Jeff, Thesis Advisor |
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| Type of Resource: | text | |
| Genre: | Electronic Thesis Or Dissertation | |
| Issuance: | monographic | |
| Date Issued: | 1992 | |
| Publisher: | Florida Atlantic University | |
| Place of Publication: | Boca Raton, Fla. | |
| Physical Form: | application/pdf | |
| Extent: | 372 p. | |
| Language(s): | English | |
| Summary: | This study empirically investigates direct foreign investments, acquisitions and partial acquisitions with a U.S. firm, from 1980 through 1989. The primary purpose of this study is two-fold: (1) establish the overall effect of direct foreign investments on shareholder wealth surrounding the announcement (the short-term share price reaction) and over a three-year period after the announcement (the long-term share price reaction) and (2) form a greater understanding of the variables influencing the shareholder wealth effect of direct foreign investments. The overall short-term share price reaction is negative but insignificant for U.S firms acquiring foreign firms, positive and significant for U.S. firms partially acquiring foreign firms, and positive and significant for U.S. targets partially acquired by foreign firms. The overall long-term share price reaction is negative and significant for each of the previous three group of U.S. firms, yet positive and significant for foreign targets partially acquired by U.S. firms and negative but insignificant for foreign firms partially acquiring U.S. firms. The variables influencing each group of U.S. firms are a firm's name recognition, the exchange rate, investment in a related industry, investment in a developed country, and the presence of a previous international expansion. | |
| Identifier: | 12315 (digitool), FADT12315 (IID), fau:9217 (fedora) | |
| Note(s): |
Thesis (Ph.D.)--Florida Atlantic University, 1992. College of Business |
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| Subject(s): |
Consolidation and Merger of Corporations--Economic aspects Investments, Foreign--Economic Aspects Stockholders |
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| Held by: | Florida Atlantic University Libraries | |
| Persistent Link to This Record: | http://purl.flvc.org/fcla/dt/12315 | |
| Sublocation: | Digital Library | |
| Use and Reproduction: | Copyright © is held by the author with permission granted to Florida Atlantic University to digitize, archive and distribute this item for non-profit research and educational purposes. Any reuse of this item in excess of fair use or other copyright exemptions requires permission of the copyright holder. | |
| Use and Reproduction: | http://rightsstatements.org/vocab/InC/1.0/ | |
| Host Institution: | FAU | |
| Is Part of Series: | Florida Atlantic University Digital Library Collections. |
