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".
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.
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.