2009 Edward F. Hayes Graduate Research Forum. 23rd
Emerging economy firms are increasingly acquiring foreign firms, either buoyed by success at
home or as a response to competitive threats from foreign players entering their home markets.
These firms are new to the game and it remains to be seen if they have been able to secure gains
for their shareholders in the process. This study analyzed international acquisitions by Indian
firms and found that shareholder gains are positive overall. However, larger firm size tends to
have a negative impact on shareholder returns suggesting that bigger firms may be prone to
hubris. Managerialism was not found to be a significant.
Business: 3rd Place (The Ohio State University Edward F. Hayes Graduate Research Forum)