[PDF] Top 20 The impact of financial constraints in the European M&A activity

... process of identifying a company under financial distress situation has proven to be a topic where no general agreement has yet been achieved on which measure is the best proxy to classify a company ... See full document

... confirms the preliminary results appearing significant explaining merger frequency (with a negative impact, as ...expected). The impact of interest rates in M&A is not ... See full document

... traces the major European democratic standards and identifies several important documents that set VC’s standards on party ...financing. The VC has adopted the “Guidelines and Report on ... See full document

... returns, the CDS variable seems to be of most ...expected. In fact, what the model tells us is that a higher sovereign stress/risk in the countries that experienced the ... See full document

... restating activity may provide indications about the sources, the origins and the motivation of companies for providing poor quality financial ...incidence of accounting ... See full document

... that the notion of state aid is extremely broad and includes an endless number of ...relieves the normal expenses of an undertaking, ...definition of state aid is thus crucial to ... See full document

... CAARs of 5-year government bond yields have bigger fluctuation than CAARs of 10-year government bond ...fall in the event of 12/3/2015, while 10-year government bond yields have an ... See full document

... implications of this paper must be read with caution as they are drawn from a small sample of Portuguese firms that lost their ISO 9001 certification in ...time. The excessive external and ... See full document

... that of the role of finance in the real ...made in recent years on this ...contemplates financial frictions. This study explores the interactions between real ... See full document

... On the one hand, banks have specific governance issues (Becht et ...on the other hand, the board of a bank plays a critical role in achieving effective governance 6 (Pathan and Faff, ... See full document

... shows the relationship between the previous variables and the different sovereign rating levels in ...2013. The countries included in this analysis are the twelve ... See full document

... aim of this work is to show the relevance of guarantees provided by the Mutual Credit Guarantee System (MCGS—the Portuguese Society of Credit Guarantee (SPGM)) as an instrument ... See full document

... involved in CSR activities, a company is automatically protected from negative publicity and also from harsh measures from Non-Governmental Organizations ...involved in activities such as awareness raising, ... See full document

... The financial statements of the most representative ethical banks reveal that their financial intermediation activity gathers customers aware of the importance ... See full document

... inside the territory of a Member-State, will still have an effect on ...connection, the Council Legal Services asks the wrong question "Do other states have a more relevant interest ... See full document

... detected in the index covering all assets (PSI General), but it may exist by sector (Christie and Huang, ...Instead of taking the overall market as reference, investors may herd around firms ... See full document

... targets’ financial constraints through better expanding their operations and ability to ...advantage of growth opportunities can create value for the mutual benefit of the ... See full document

... set of studies have analyzed the evolution of performance of SRI portfolios over time, having documented evidence consistent with two hypotheses regarding the performance of ... See full document

... from the ECMWF interim reanalysis (ERA) (ECMWF, ...development of the ECMWF reanal- ysis ERA40 by Uppala et ...is the usage of a 4-dimensional variational analy- sis scheme instead ... See full document

... that the implementation of efficient mechanisms such a large board size and its independence as well as the separation between the CEO and chairman roles were a major contributor to good ... See full document