Empirical Research – Transaction Capital LLC

Post-acquisition Performance Analysis of Indian Target Firms: The Role of Deal Characteristics

The aim of this article is to identify and determine various dimensions of deal characteristics affecting the post-acquisition performance of Indian target firms. Available researches have focussed on the stock market reaction as the indicator of target firm performance. Nonetheless, various determinants are found to affect the post-acquisition performance of target firms.

Prediction of Inbound & Domestic Takeover Candidates from Indian Market - Pre and Post Global Crisis

M&As are the key drivers for economic growth in developing countries, specifically with respect to India. In the view of proliferating inbound acquisitions and thereby enhancing the FDI of the country, many governmental policies are also implemented. Though a substantial literature is available towards various aspects of M&As in developed countries, only a very few works deal with respect to developing countries and further only a very minimal research is done with special attention to India.

Pre-Acquisition Performance Analysis of Indian Target Firms

The purpose of this paper is to compare the pre-acquisition performance of domestic and cross-border Indian target firms. Past studies suggest that foreign investors mostly acquire well-performing domestic firms, while domestic target firms invest more often in poorly performing firms.

How to enter into Indian market? From inbound & Domestic acquisitions perspective- A Review

Abstract: Mergers and Acquisitions are the major sources of Foreign Direct Investment and one of the effective strategies for organisational expansion and restructuring. In India, Cross border Acquisitions have increased the inward flow of foreign investments significantly and will continue to remain one of the preferred ways for attracting international investments.

Impact of Restrictions on Participatory Notes on the Indian Stock Market

Securities and Exchange Board of India (SEBI) has recently decided to tighten screws on “Participatory Notes” also known as “P-Notes”. P-Notes, or off-shore derivative instruments (ODIs), are instruments issued by foreign portfolio investors (FPIs) to overseas investors who wish to invest in Indian stock markets without registering themselves with SEBI.

Analysis of Control Change effects on Indian Economy – from Inbound and Domestic Acquisition Perspective – A Review

Startup Valuation Determinants and Characteristics in Advanced and Emerging Economies: A Strategic Theory Perspective

Although there has been a significant rise in high-valued unicorns from emerging economies, especially China and India, unicorns from advanced economies have witnessed maximum exits. Therefore, the study intends to explore whether there are any differences in pre-money valuation determinants of startups of emerging and advanced economies.

Pricing the Illiquidity Premium for Private Market Assets

The purpose of this paper is to examine the effect of illiquidity on the value of assets using an options approach. The paper uses two experiments (Hydropower & Damodaran data) to determine the illiquidity. Evidence suggests that erroneous assumptions of the illiquidity premium priced into an asset may ultimately misrepresent an investments value and the risk-return profile.

Role of Pre-Money Valuation Determinants of Indian Startups in Fundraising and Predicting Unicorns

The study intends to analyze the role of pre-money valuation determinants in the valuation of startups and in predicting unicorns. Secondary data was collected from Indian startups of different sizes-decacorns, unicorns, early-stage startups, minicorns and soonicorns. The initial sample consisted of 3,342 completed deals between 2010 and 2022.

Startup Valuation Determinants: Examining the Economic Value of German Startups from a Strategic Theory Perspective

The pre-money valuation of startups, as their performance indicator, is critical in entrepreneurial financing, which in turn is significantly shaped by the firm’s internal resources. This paper analyzes an integrated theoretical framework to examine whether the valuation of startups can be explained by strategic and firm-level factors identified by Barney’s (1991) Resource-Based Theory (RBT) as critical to firm performance.

Determinants Influencing Acquisition of Target Firms and Their Post-Acquisition Performance in Post-Global Crisis India

The study investigated the factors forming selection criteria of target firms for mergers & acquisitions deals carried out in the post- 2008 global financial crisis (2009-2015) and the target firms’ post-acquisition performance through these factors. The application of Wilcoxon Signed Rank Test, Multinomial Logistic Regression and the Change Model involving the difference in difference (DID) estimators found a significant difference in selection determinants of target firms between domestic and foreign acquirers.