Literature on mergers and acquisitions (M&As) performance and wealth effects is abundant. Yet, we know very little about the pre-completion stage, in particular about aspects such as the likelihood of deal closing and time to completion. Understanding the drivers of completion time is however...

This paper empirically investigates the industry determinants of M&A value creation and the division of M&A gains in a sample of horizontal acquisitions in Europe during the period 19972008. Our results show that industry sales concentration and the ratio of combined target and bidder size...

In this article, we empirically investigate the industry determinants of value creation through Mergers and Acquisitions (M&A) and the division of M&A gains for a sample of horizontal acquisitions in Europe during the period 1997--2008. We calculate the combined abnormal return around deal...

In case of a takeover, the acquiring firm has to choose whether to retain the acquired firm’s incumbent auditor or to switch to its own auditor. In the current paper, we explore the drivers of auditor switching by the acquired firm after a takeover among a sample of Belgian takeovers....

This paper empirically investigates the determinants of growth through mergers and acquisitions (M&As) in a typical Continental European country, Belgium. By analyzing firm characteristics, industry and aggregate market variables, we are able to determine what motives are important in the...

We empirically investigate the sources, magnitude, and timing of synergy realization for 293 M&As by non-serial listed acquirers in Europe during 1997¨C2005. In contrast to much of the existing literature, we find that the shareholders of non-serial acquirers gain significantly upon deal...

This paper empirically investigates the antecedents of growth through mergers and acquisitions (M&As) in a typical continental European country, Belgium. The article reports on a study using data on 484 private and listed bidders engaging in 990 M&As during 1997-2007, and matches this sample...

This paper investigates how angel investors’ human capital affects the valuation of their portfolio companies at initial investment, based on the pre-money valuation of 59 investments in young Belgian companies. We show that entrepreneurs are able to negotiate higher valuations with angel...

This paper examines how entrepreneurs’ human and social capital influence their knowledge of finance alternatives. For this purpose, we use survey data from 125 Belgian start-ups. Results demonstrate that entrepreneurs with a business education and entrepreneurs with experience in accountancy...

This paper studies the association between bootstrapping and startup growth. Bootstrapping reduces a startup’s dependence on financial investors, but may create new dependencies. Drawing upon resource dependence theory, we hypothesize that when bootstrapping does not create new strong...