İŞLETME FİNANSI II - Deneme Sınavı - 8

Corporate restructuring refers to activities of firms that significantly change their business operations and/or financial structure.

Business alliance is a term that refers to different forms of combining business activities of two or more firms.

Merger is a combination of two firms in a way that only one firm survives after combining.

Network: A firm’s set of relationships, both horizontal and vertical, with other organizations – be they suppliers, customers, competitors, or other entities – including relationships across industries and countries. These networks are composed of interorganizational ties that are enduring, are of strategic significance for the firms entering them and include strategic alliances, joint ventures, long term buyer-supplier partnerships and a host of similar ties (Koleva, 2002).

Horizontal M&A is a form of business combination between two firms in the same industry.

Congeneric M&A is a form of business combination between two firms in very similar industries, which are not in any horizontal or vertical relationship.

Anergy refers to a condition of joining two separate firms producing an outcome that is less than the sum of separate entities

Hostile takeover occurs when the management of the target firm resists the merger or acquisition. The acquiring firm then needs to make a direct appeal on stockholders of the target firm.

Culture clash refers to failure of management in the post acquisition integration process.

Pricing effect is about risk and return trade- off between cash and stocks.

Resource-based view focuses on the competitive advantage concept.

Merger is a combination of two firms in a way that only one firm survives after combining.

Business alliance is a term that refers to different forms of combining business activities of two or more firms.

Vertical M&A is a form of business combination between two firms of which one them is a supplier, or a customer to another.

All the variations given are among the business alliances.

Synergy and tax considerations are among the motivations for M&As. Although anergy can be an outcome of M&As, it is not considered as a motivation factor.

Marketing is not in M&A process.

Culture clash is a widely used term to describe the failure of management in the post acquisition integration process.

Leveraged buyout (LBO) refers to purchase of the target company by using debt as a financing alternative.

Valuation approaches can be grouped in three categories of income-based, market-based, and asset-based valuation.