Cross-Border Acquisitions and Shareholders Wealth: The Case of the Indian Pharmaceutical Sector
- Title
- Cross-Border Acquisitions and Shareholders Wealth: The Case of the Indian Pharmaceutical Sector
- Creator
- Wajid A.; Sabiha A.; Akhtar S.; Tabash M.I.; Daniel L.N.
- Description
- Cross-border acquisitions by Indian companies have increased tremendously, especially during the last two decades, and the pharmaceutical industry is one of the top acquiring industries. This study verifies the relationship between cross-border acquisitions and shareholders wealth in the Indian pharmaceutical sector. For this purpose, the data related to acquisitions were acquired from 2005 to 2019 and the event study methodology was applied along with two parametric tests. The findings of the current research prescribe that cross-border acquisitions have a positive and significant impact on shareholders wealth. Furthermore, the outcomes also indicate higher positive abnormal returns in the short run when the targets are based in the US and the UK as compared to the positive but insignificant abnormal returns when the targets are based in locations other than the US and the UK. 2022 by the authors.
- Source
- Journal of Risk and Financial Management, Vol-15, No. 10
- Date
- 2022-01-01
- Publisher
- MDPI
- Subject
- abnormal returns; cross-border acquisitions; event study methodology; India; mergers and acquisitions; pharmaceutical firms; short term gains
- Coverage
- Wajid A., Department of Finance and Commerce, School of Finance and Commerce, Galgotias University, Uttar Pradesh, Greater Noida, 203201, India; Sabiha A., School of Commerce, Finance and, Accountancy, Christ (Deemed to be University), Delhi NCR, Uttar Pradesh, Ghaziabad, 201003, India; Akhtar S., School of Business, Woxsen University, Telangana, Hyderabad, 502345, India; Tabash M.I., College of Business, Al Ain University, P.O. Box 64141, Al Ain, United Arab Emirates; Daniel L.N., Faculty of Business, Higher Colleges of Technology, P.O. Box 41012, Abu Dhabi, United Arab Emirates
- Rights
- All Open Access; Gold Open Access; Green Open Access
- Relation
- ISSN: 19118074
- Format
- Online
- Language
- English
- Type
- Article
Collection
Citation
Wajid A.; Sabiha A.; Akhtar S.; Tabash M.I.; Daniel L.N., “Cross-Border Acquisitions and Shareholders Wealth: The Case of the Indian Pharmaceutical Sector,” CHRIST (Deemed To Be University) Institutional Repository, accessed February 24, 2025, https://archives.christuniversity.in/items/show/14899.