{"id":"https://openalex.org/W2061315397","doi":"https://doi.org/10.1108/09699980410512674","title":"The impact of mergers and acquisitions on shareholder wealth in the UK construction industry","display_name":"The impact of mergers and acquisitions on shareholder wealth in the UK construction industry","publication_year":2004,"publication_date":"2004-02-01","ids":{"openalex":"https://openalex.org/W2061315397","doi":"https://doi.org/10.1108/09699980410512674","mag":"2061315397"},"language":"en","primary_location":{"id":"doi:10.1108/09699980410512674","doi":"https://doi.org/10.1108/09699980410512674","is_oa":false,"landing_page_url":"https://doi.org/10.1108/09699980410512674","pdf_url":null,"source":{"id":"https://openalex.org/S120049674","display_name":"Engineering Construction & Architectural Management","issn_l":"0969-9988","issn":["0969-9988","1365-232X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","cwts-core","dongbi-d","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Engineering, Construction and Architectural Management","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5080361714","display_name":"Frank T. Delaney","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I251738","display_name":"Edinburgh Napier University","ror":"https://ror.org/03zjvnn91","country_code":"GB","type":"education","lineage":["https://openalex.org/I251738"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Frank T. Delaney","raw_affiliation_strings":["Research Student at the School of the Built Environment, Napier University, Edinburgh, UK"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Research Student at the School of the Built Environment, Napier University, Edinburgh, UK","institution_ids":["https://openalex.org/I251738"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5085100933","display_name":"Sam Wamuziri","orcid":"https://orcid.org/0000-0003-4624-4396","observed_orcids":["https://orcid.org/0000-0003-4624-4396"]},"institutions":[{"id":"https://openalex.org/I251738","display_name":"Edinburgh Napier University","ror":"https://ror.org/03zjvnn91","country_code":"GB","type":"education","lineage":["https://openalex.org/I251738"]}],"countries":["GB"],"is_corresponding":false,"raw_author_name":"Sam C. Wamuziri","raw_affiliation_strings":["Lecturer at the School of the Built Environment, Napier University, Edinburgh, UK"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Lecturer at the School of the Built Environment, Napier University, Edinburgh, UK","institution_ids":["https://openalex.org/I251738"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I251738"],"apc_list":null,"apc_paid":null,"fwci":1.4405,"has_fulltext":false,"cited_by_count":21,"citation_normalized_percentile":{"value":0.92145966,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":97},"biblio":{"volume":"11","issue":"1","first_page":"65","last_page":"73"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9990000128746033,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/mergers-and-acquisitions","display_name":"mergers and acquisitions","score":1.0},{"id":"https://openalex.org/keywords/shareholder-value","display_name":"shareholder value","score":0.9860000014305115},{"id":"https://openalex.org/keywords/construction-industry","display_name":"construction industry","score":0.7540000081062317},{"id":"https://openalex.org/keywords/abnormal-returns","display_name":"abnormal returns","score":0.6650000214576721},{"id":"https://openalex.org/keywords/merger-announcements","display_name":"merger announcements","score":0.9240000247955322},{"id":"https://openalex.org/keywords/target-firms","display_name":"target firms","score":0.7080000042915344},{"id":"https://openalex.org/keywords/acquiring-firms","display_name":"acquiring firms","score":0.847000002861023},{"id":"https://openalex.org/keywords/financial-performance","display_name":"financial performance","score":0.5659999847412109}],"concepts":[{"id":"https://openalex.org/C548217281","wikidata":"https://www.wikidata.org/wiki/Q731112","display_name":"Mergers and acquisitions","level":2,"score":0.8248838782310486},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.8176639080047607},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.694225549697876},{"id":"https://openalex.org/C2779093199","wikidata":"https://www.wikidata.org/wiki/Q338010","display_name":"Shareholder value","level":4,"score":0.5464096069335938},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5261247158050537},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.5153595805168152},{"id":"https://openalex.org/C40700","wikidata":"https://www.wikidata.org/wiki/Q1411783","display_name":"Industrial organization","level":1,"score":0.44180071353912354},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.387499064207077},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.3102331757545471},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1108/09699980410512674","doi":"https://doi.org/10.1108/09699980410512674","is_oa":false,"landing_page_url":"https://doi.org/10.1108/09699980410512674","pdf_url":null,"source":{"id":"https://openalex.org/S120049674","display_name":"Engineering Construction & Architectural Management","issn_l":"0969-9988","issn":["0969-9988","1365-232X"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","cwts-core","dongbi-d","fnege-4","jufo-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Engineering, Construction and Architectural Management","raw_type":"journal-article"},{"id":"pmh:oai:napier-surface.worktribe.com:259558","doi":null,"is_oa":false,"landing_page_url":"http://researchrepository.napier.ac.uk/id/eprint/2023","pdf_url":null,"source":{"id":"https://openalex.org/S4306400544","display_name":"Research Output (Edinburgh Napier University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I251738","host_organization_name":"Edinburgh Napier University","host_organization_lineage":["https://openalex.org/I251738"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Journal Article"},{"id":"pmh:oai:repository@napier.ac.uk:259558","doi":null,"is_oa":false,"landing_page_url":"http://researchrepository.napier.ac.uk/id/eprint/2023","pdf_url":null,"source":{"id":"https://openalex.org/S4306402591","display_name":"Edinburgh Napier Research Repository (Edinburgh Napier University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I251738","host_organization_name":"Edinburgh Napier University","host_organization_lineage":["https://openalex.org/I251738"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"Journal Article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":27,"referenced_works":["https://openalex.org/W77666782","https://openalex.org/W1493292050","https://openalex.org/W1520574278","https://openalex.org/W1557455894","https://openalex.org/W1965625624","https://openalex.org/W1969978487","https://openalex.org/W1970481289","https://openalex.org/W1995381554","https://openalex.org/W2005119016","https://openalex.org/W2024791448","https://openalex.org/W2028370924","https://openalex.org/W2038309987","https://openalex.org/W2050138446","https://openalex.org/W2051115595","https://openalex.org/W2060407675","https://openalex.org/W2091150096","https://openalex.org/W2112439978","https://openalex.org/W2128778916","https://openalex.org/W2135043423","https://openalex.org/W2142789928","https://openalex.org/W2145587596","https://openalex.org/W2153431670","https://openalex.org/W2156027511","https://openalex.org/W2168970594","https://openalex.org/W2747531703","https://openalex.org/W3125399815","https://openalex.org/W3139046410"],"related_works":["https://openalex.org/W7066504739","https://openalex.org/W3036517472","https://openalex.org/W3196062099","https://openalex.org/W2061124604","https://openalex.org/W2599478406","https://openalex.org/W2302815807","https://openalex.org/W7030269772","https://openalex.org/W6987386592","https://openalex.org/W7071892667","https://openalex.org/W3122034834"],"abstract_inverted_index":{"One":[0],"of":[1,26,30,40,58,86,107],"the":[2,24,28,31,37,56,70,84,108],"primary":[3],"motives":[4],"behind":[5],"any":[6],"strategic":[7],"corporate":[8],"decision":[9],"is":[10],"to":[11],"maximise":[12],"shareholder":[13],"value.":[14],"Strategic":[15],"decisions":[16],"for":[17,105],"UK":[18,41,71],"construction":[19,42,49,72,101],"firms":[20],"are":[21],"made":[22],"with":[23],"objective":[25],"maximising":[27],"wealth":[29,104],"company's":[32],"shareholders.":[33],"This":[34],"paper":[35],"investigates":[36],"financial":[38],"performance":[39,68],"companies,":[43],"which":[44],"have":[45],"been":[46],"involved":[47],"in":[48,69],"related":[50,100],"mergers":[51,102],"and":[52,54,64,89,92],"acquisitions":[53],"examines":[55,76],"impact":[57],"merger":[59,93],"announcements":[60],"on":[61],"acquiring":[62],"firms'":[63,66],"target":[65,109],"stock":[67],"industry.":[73],"It":[74],"also":[75],"abnormal":[77],"share":[78],"returns":[79],"throughout":[80],"a":[81],"period":[82],"surrounding":[83],"announcement":[85],"both":[87],"successful":[88],"unsuccessful":[90],"acquisition":[91],"bids.":[94],"The":[95],"overall":[96],"results":[97],"indicate":[98],"that":[99],"create":[103],"shareholders":[106],"firms.":[110]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":1},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":3}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}
