Christian Ott, enseignant-chercheur de l’EM Strasbourg, a publié en début d'année un article dans le "Journal of Business Research".
Chrisitian Ott (LaRGE, EM Strasbourg) a écrit un article pour l'édition de janvier sur le thème "The risks of mergers and acquisitions—Analyzing the incentives for risk reporting in Item 1A of 10-K filings".
Abstract :
This paper investigates the motivations behind the associations between the M&A risk level and the M&A risk reporting. For a sample of231 M&As, I performed a detailed content analysis of Item 1A of the 10-K filing after the completion of M&As. While the M&A risk reportingquantity captures the number of M&A risk factors, the M&A risk reporting quality additionally reflects the M&A risk reporting depth andwidth. The results suggest that the M&A risk reporting quantity and quality are related but not identical theoretical constructs. Overall,consistent with the transparency motivation, a higher M&A risk level encourages managers to increase the M&A risk reporting quantity andquality. Managers will disclose more M&A risk factors if the target firm is relatively large and from a foreign country, a relatively largeamount of the purchase price is allocated to goodwill, and the M&A intensity is high.
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The Journal of Business Research applies theory developed from business research to actual business situations. Recognizing the intricate relationships between the many areas of business activity, JBR examines a wide variety of business decisions, processes and activities within the actual business setting.