Why Investment Banks Are Not Used in Some Mergers ab 48.99 € als Taschenbuch: Role of Investment Banks Mergers Acquisitions Abnormal Returns. Aus dem Bereich: Bücher, Wissenschaft, Wirtschaftswissenschaft,
An io9 Can't Miss Science Fiction and Fantasy title in March 2014.Martin Banks is just a normal guy who has made an abnormal discovery: he can manipulate reality, thanks to reality being nothing more than a computer program. With every use of this ability, though, Martin finds his little “tweaks” have not escaped notice. Rather than face prosecution, he decides instead to travel back in time to the Middle Ages and pose as a wizard.What could possibly go wrong?An American hacker in King Arthur’s court, Martin must now train to become a full-fledged master of his powers, discover the truth behind the ancient wizard Merlin…and not, y’know, die or anything. 1. Language: English. Narrator: Luke Daniels. Audio sample: http://samples.audible.de/bk/brll/005931/bk_brll_005931_sample.mp3. Digital audiobook in aax.
Annual percentage rate is a pricing mechanism tool introduced by the Central bank of Kenya and Kenya bankers association, following industry consultations carried out in the banking sector in Kenya in 2013. These consultations revealed that the banks were making abnormal profits at the cost of the customer. In the new constitution of Kenya enacted in 2010, the consumer protection act section 46 explains the consumer rights and outlines that consumers have a right to protection. Therefore, the Central bank of Kenya drew up prudential guidelines that would govern this matter and see to it that the cost of borrowing was addressed. This book also examines how APR as pricing tool, has been integrated into the market and whether the rights and objectives it was set to carry out have been addressed since its implementation in July 2014. The study should aid consumers and banks on the new mechanisms and guidelines on standardization of rates, cheaper credit, and easier decision making process.
Abstract: In the process of the research of monitoring abnormal capital flows, it is very difficult to acquire the real financial transaction data on account of many factors such as bank secrecy. Even though these real data are adopted, due to various data formats, data fracture, and other factors among the different banks, there still exist many problems when the data are adopted directly for the research. It is obviously impossible and unrealistic to build such a huge data warehouse through artificial methods by using traditional simulation trading platform. Therefore, the thesis, by means of many computer technologies such as artificial intelligent, simulation and virtual reality, builds a capital flows simulation platform for researching the abnormal capital flows in financial networks.
A breaker restrike is an abnormal arcing phenomenon, leading to a possible breaker failure. Eventually, this failure leads to interruption of the transmission and distribution of the electricity supply system until the breaker is replaced. Before 2008, there was little evidence in the literature of monitoring techniques based on restrike measurement and interpretation produced during switching of capacitor banks and shunt reactor banks in power systems. In 2008 a non-intrusive radiometric restrike measurement method and a restrike hardware detection algorithm were developed by M.S. Ramli and B. Kasztenny. However, the limitations of the radiometric measurement method are a band limited frequency response as well as limitations in amplitude determination. Current restrike detection methods and algorithms require the use of wide bandwidth current transformers and high voltage dividers. A restrike switch model using Alternative Transient Program (ATP) and Wavelet Transforms which support diagnostics are proposed. Restrike phenomena become a new diagnostic process using measurements, ATP and Wavelet Transforms for online interrupter monitoring.
In this study, the goal is to analyze the contagion effect that a bank's failure, Bear Stearns', could have had on two groups of banks in the UK market. The main one is composed of ten banks and the control one of five. The groups of banks were selected based on their assets size. We used an event study and analyzed abnormal returns and cumulative abnormal returns, on different event windows, to study the impact of this announcement on the two samples. After conducting the event study and running both simple and multiple regressions, we found a small contagion effect in the form of negative abnormal returns for three banks following Bear Stearns' failure.
Many extant studies have examined the impact of mergers and acquisitions on firm performance. However, there is little research regarding the role played by investment banks in M&A. This book fills this void. This book not only systematically analyzes the functions of investment banking services for M&A, but also uncovers the abnormal returns to both bidders and targets. The author finds that investment banking services are not necessary under certain circumstances, for either bidder or target firms. In addition, the author finds that target firms more likely use the services from investment banks than the bidders. The wealth gains to target firms are more sensitive to the investment banking choices than the wealth gains to bidders. This book should shed some light on M&A reserach for both researchers and practitioners in M&A field.
Diploma Thesis from the year 2008 in the subject Economy - Theory of Competition, Competition Policy, grade: 1,7, University of Bonn (Finanzwirtschaftliches Institut), 73 entries in the bibliography, language: English, abstract: The question if and how the ownership structure influences the market value of a firm is one of the most extensive studied subjects in corporate governance. Three main determinants were identified during more than 30 years of research: 1. The size of the block 2. The legal and regulatory environment 3. The type of blockholder This work uses the acquisition of voting blocks by different types of acquirers (point 3) to determine how the shareholder structure in Germany (point 2) influences the valuation of a firm. It is demonstrated that the heterogeneity between block acquirers has to be taken into account, i.e. the size of a block (acquisition) itself (point 1) is not a distinctive enough instrument to determine valuation aspects. The main results are that a block acquisition by banks in Germany results in a negative value effect. A cumulated abnormal return (CAR) of -2.7% in the event-period [-20,20] is the (average) consequence of a block-acquisition by a bank. A strong and highly significant result is the positive valuation effect when hedge funds acquire blocks in their targets. Average cumulated abnormal return is 5% in the period [-20,-1]. Corporations as block-acquirer cause also positive CAR's (1%). No significant effects are found following the announcement by mutual funds, insurances and individual investors. The work proceeds as follows: In chapter 2 the literature on general corporate governance and especially the literature concerned with the relation between shareholder structure and valuation is reviewed. The data for this study and its legal sources is described in chapter 3 and chapter 4 gives a short descriptive statistic. The main chapter, chapter 5, starts with an explanation why the event-study methodology is especially eligible to answer the question of how blockholding influences valuation. Then the used methodology is described and the results of the empirical work presented. These are put in the context of the respective literature and research. Chapter 6 is a short summary of the most important findings and concludes the work.