The significant impact of method of payment on the share price abnormal returns following mergers and acquisitions have been broadly considered and documented in US and UK empirical studies (Agrawal and Jaffe 2000). In the UK, all-cash acquisitions show insignificant negative or small positive...

Explores the use which is made of strategic management accounting in the hotel sector through case studies at six major UK hotel groups. Uses the definition of strategic management accounting – “the provision and analysis of management accounting data relating to business strategy:...

In this paper, it is argued that previous estimates of the expected cost of equity and the expected arithmetic risk premium in the UK show a degree of upward bias. Given the importance of the risk premium in regulatory cost of capital in the UK, this has important policy implications. There are...

Purpose – This paper investigates the Jensen's free cash flow (FCF) hypothesis in the context of UK cash acquisitions. Under this hypothesis, financial slack induces mangers to acquire targets for cash if such behaviour generates either pecuniary or non‐pecuniary rewards for them, giving...