海角精品黑料

Author: MaryJane Rabier

Publication: Strategic Management Journal, Vol. 38, No. 13, 2017

Abstract:听

Research summary:

I examine how acquisition motives relate to the distribution of post-acquisition performance. I argue that acquisitions motivated by operating synergies have the potential to experience greater gains than acquisitions driven by financial synergies but are harder to value and implement, making them more uncertain. Using SEC filings, conference calls and press releases to capture acquisition motives, I find that acquirers pursuing operating synergies are more likely to experience highly positive and highly negative long-term returns than acquirers pursuing financial synergies.

I also find that acquisition experience and geographic proximity to targets soften acquirers' extreme downside outcomes in operating synergy acquisitions. My theory and results suggest that approaches that emphasize average outcomes for acquirers and use industry classifications to capture acquisition motives may be incomplete.

Managerial summary:听

Managers engage in acquisitions for various reasons. In this study, I find that reasons related to operating synergies (e.g., revenue growth through new product offerings or cost savings through economies of scale) are more likely to result in extreme high and low performance outcomes for the acquiring firm compared to reasons related to financial synergies (e.g., diversification of cash flow streams).

In addition, I find that the acquirer's prior acquisition experience and the geographic proximity between the target and acquirer help soften the extreme low performance outcomes related to operating synergies.听

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A blog post at Virgin.com looks at how adventure-seeking CEOs come at business from a more open, experimental angle.

Desautels Professor Jingjing Zhang鈥檚 research shows that chief execs who fly small airplanes in their off-hours tend to be more open to innovation.

CEOs with a real taste for excitement can be a company鈥檚 best bet for upping its innovation cred, according to a paper co-authored by a Desautels professor Jingjing Zhang.

The paper studied 88 CEOs who were pilots, comparing them to 1,123 non-pilot chief executives over ten years. Pilot CEOs helped increase their companies鈥� patents by almost 67 per cent.

Desautels Professor Zhang said that this comes down to thrill-seeking CEOs tending to love diverse, original projects to a higher degree.

Authors:听Gao. Y.,听Kim, J.B.,听Tsang, D.,听Wu, H.听

Publication: Review of Accounting Studies

Abstract:听

According to a study performed in part by Desautels Assistant Professor of Accounting , when it comes to chasing innovation, companies with risk-loving CEOs tend to pursue more original projects and 鈥済enerate more patents with greater market impact than their peers.鈥� This is because thrill-seeking personalities tend to be more open to new ideas, which translates well into the business space.

Authors: Steve Fortin, Chandra Subramaniam, Xu (Frank) Wang,听Sanjian Bill Zhang

Publication:听Journal of Contemporary Accounting and Economics, Vol. 10, No. 2, 2014

Abstract:

Two student-athletes from 海角精品黑料 were among the CIS Top Eight Academic All-Canadians honoured by His Excellency the Right Honourable David Johnston, Governor General of Canada -- and former principal at 海角精品黑料 -- at Rideau Hall in the nation's capital, Monday.听Mariam Sylla, a basketball player and pharmacology student, as well as听Cedric McNicoll, a hockey player and accounting major in the Desautels faculty of management, were representing the R茅seau du sport 茅tudiant du Qu茅bec conference at the event.