{"id":"https://openalex.org/W4294568024","doi":"https://doi.org/10.1108/jcms-04-2022-0014","title":"Determinants of becoming an M&A acquirer or target: evidence from the US insurance industry","display_name":"Determinants of becoming an M&A acquirer or target: evidence from the US insurance industry","publication_year":2022,"publication_date":"2022-09-04","ids":{"openalex":"https://openalex.org/W4294568024","doi":"https://doi.org/10.1108/jcms-04-2022-0014"},"language":"en","primary_location":{"id":"doi:10.1108/jcms-04-2022-0014","doi":"https://doi.org/10.1108/jcms-04-2022-0014","is_oa":true,"landing_page_url":"https://doi.org/10.1108/jcms-04-2022-0014","pdf_url":"https://www.emerald.com/insight/content/doi/10.1108/JCMS-04-2022-0014/full/pdf?title=determinants-of-becoming-an-mampa-acquirer-or-target-evidence-from-the-us-insurance-industry","source":{"id":"https://openalex.org/S4210223722","display_name":"Journal of Capital Markets Studies","issn_l":"2514-4774","issn":["2514-4774"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["cwts-core","doaj","erih-plus"],"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":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Capital Markets Studies","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://www.emerald.com/insight/content/doi/10.1108/JCMS-04-2022-0014/full/pdf?title=determinants-of-becoming-an-mampa-acquirer-or-target-evidence-from-the-us-insurance-industry","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5048003412","display_name":"G\u00f6khan \u00d6zer","orcid":"https://orcid.org/0000-0002-3255-998X","observed_orcids":["https://orcid.org/0000-0002-3255-998X"]},"institutions":[{"id":"https://openalex.org/I109297418","display_name":"Gebze Technical University","ror":"https://ror.org/01sdnnq10","country_code":"TR","type":"education","lineage":["https://openalex.org/I109297418"]}],"countries":["TR"],"is_corresponding":true,"raw_author_name":"G\u00f6khan \u00d6zer","raw_affiliation_strings":["Department of Business Administration, Gebze Technical University, Kocaeli, Turkey"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Business Administration, Gebze Technical University, Kocaeli, Turkey","institution_ids":["https://openalex.org/I109297418"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5016163744","display_name":"Nurullah Okur","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I109297418","display_name":"Gebze Technical University","ror":"https://ror.org/01sdnnq10","country_code":"TR","type":"education","lineage":["https://openalex.org/I109297418"]}],"countries":["TR"],"is_corresponding":false,"raw_author_name":"Nurullah Okur","raw_affiliation_strings":["Department of Business Administration, Gebze Technical University, Kocaeli, Turkey"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Business Administration, Gebze Technical University, Kocaeli, Turkey","institution_ids":["https://openalex.org/I109297418"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5026905424","display_name":"\u0130lhan \u00c7am","orcid":"https://orcid.org/0000-0002-3076-0639","observed_orcids":["https://orcid.org/0000-0002-3076-0639"]},"institutions":[{"id":"https://openalex.org/I109297418","display_name":"Gebze Technical University","ror":"https://ror.org/01sdnnq10","country_code":"TR","type":"education","lineage":["https://openalex.org/I109297418"]}],"countries":["TR"],"is_corresponding":false,"raw_author_name":"\u0130lhan \u00c7am","raw_affiliation_strings":["Department of Business Administration, Gebze Technical University, Kocaeli, Turkey"],"raw_orcid":"https://orcid.org/0000-0002-3076-0639","affiliations":[{"raw_affiliation_string":"Department of Business Administration, Gebze Technical University, Kocaeli, Turkey","institution_ids":["https://openalex.org/I109297418"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5048003412"],"corresponding_institution_ids":["https://openalex.org/I109297418"],"apc_list":null,"apc_paid":null,"fwci":0.4991,"has_fulltext":true,"cited_by_count":3,"citation_normalized_percentile":{"value":0.64415035,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":95},"biblio":{"volume":"6","issue":"2","first_page":"203","last_page":"218"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9984999895095825,"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"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9984999895095825,"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/T12394","display_name":"Insurance and Financial Risk Management","score":0.000699999975040555,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"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/T11043","display_name":"Merger and Competition Analysis","score":0.0003000000142492354,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"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":0.9980000257492065},{"id":"https://openalex.org/keywords/insurance-industry","display_name":"insurance industry","score":0.5920000076293945},{"id":"https://openalex.org/keywords/firm-size","display_name":"firm size","score":0.8100000023841858},{"id":"https://openalex.org/keywords/corporate-cash-holdings","display_name":"cash holdings","score":0.9890000224113464},{"id":"https://openalex.org/keywords/esg-ratings","display_name":"ESG ratings","score":0.7429999709129333},{"id":"https://openalex.org/keywords/profitability","display_name":"profitability","score":0.7730000019073486},{"id":"https://openalex.org/keywords/cash-flow","display_name":"cash flow","score":0.746999979019165},{"id":"https://openalex.org/keywords/intangible-assets","display_name":"intangible assets","score":0.8489999771118164},{"id":"https://openalex.org/keywords/global-financial-crises","display_name":"global financial crises","score":0.8159999847412109},{"id":"https://openalex.org/keywords/non-life-insurance","display_name":"non-life insurance","score":0.7459999918937683}],"concepts":[{"id":"https://openalex.org/C117568660","wikidata":"https://www.wikidata.org/wiki/Q1650843","display_name":"Multinomial logistic regression","level":2,"score":0.867622971534729},{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.7732869386672974},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6736962795257568},{"id":"https://openalex.org/C163428354","wikidata":"https://www.wikidata.org/wiki/Q1047513","display_name":"Cash flow","level":2,"score":0.5834590196609497},{"id":"https://openalex.org/C2778083465","wikidata":"https://www.wikidata.org/wiki/Q693464","display_name":"Cash","level":2,"score":0.4773947596549988},{"id":"https://openalex.org/C151956035","wikidata":"https://www.wikidata.org/wiki/Q1132755","display_name":"Logistic regression","level":2,"score":0.47558605670928955},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.4567815065383911},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.4565550684928894},{"id":"https://openalex.org/C548217281","wikidata":"https://www.wikidata.org/wiki/Q731112","display_name":"Mergers and acquisitions","level":2,"score":0.4522970914840698},{"id":"https://openalex.org/C2776950860","wikidata":"https://www.wikidata.org/wiki/Q2914681","display_name":"Originality","level":3,"score":0.4123600721359253},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.33935922384262085},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.26689451932907104},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2402895987033844},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C11012388","wikidata":"https://www.wikidata.org/wiki/Q170658","display_name":"Creativity","level":2,"score":0.0},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C126322002","wikidata":"https://www.wikidata.org/wiki/Q11180","display_name":"Internal medicine","level":1,"score":0.0}],"mesh":[],"locations_count":5,"locations":[{"id":"doi:10.1108/jcms-04-2022-0014","doi":"https://doi.org/10.1108/jcms-04-2022-0014","is_oa":true,"landing_page_url":"https://doi.org/10.1108/jcms-04-2022-0014","pdf_url":"https://www.emerald.com/insight/content/doi/10.1108/JCMS-04-2022-0014/full/pdf?title=determinants-of-becoming-an-mampa-acquirer-or-target-evidence-from-the-us-insurance-industry","source":{"id":"https://openalex.org/S4210223722","display_name":"Journal of Capital Markets Studies","issn_l":"2514-4774","issn":["2514-4774"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["cwts-core","doaj","erih-plus"],"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":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Capital Markets Studies","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:eme:jcms00:jcms-04-2022-0014","doi":null,"is_oa":false,"landing_page_url":"https://www.emerald.com/insight/content/doi/10.1108/JCMS-04-2022-0014.html?utm_source=repec&utm_medium=feed&utm_campaign=repec","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:RePEc:eme:jcmspp:jcms-04-2022-0014","doi":null,"is_oa":false,"landing_page_url":"https://www.emerald.com/insight/content/doi/10.1108/JCMS-04-2022-0014/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:doaj.org/article:467b2e3d090d4036a4434368a659844b","doi":null,"is_oa":false,"landing_page_url":"https://doaj.org/article/467b2e3d090d4036a4434368a659844b","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Journal of Capital Markets Studies, Vol 6, Iss 2, Pp 203-218 (2022)","raw_type":"article"},{"id":"pmh:oai:econstor.eu:10419/313299","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/10419/313299","pdf_url":null,"source":{"id":"https://openalex.org/S4306401696","display_name":"Econstor (Econstor)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"doc-type:article"}],"best_oa_location":{"id":"doi:10.1108/jcms-04-2022-0014","doi":"https://doi.org/10.1108/jcms-04-2022-0014","is_oa":true,"landing_page_url":"https://doi.org/10.1108/jcms-04-2022-0014","pdf_url":"https://www.emerald.com/insight/content/doi/10.1108/JCMS-04-2022-0014/full/pdf?title=determinants-of-becoming-an-mampa-acquirer-or-target-evidence-from-the-us-insurance-industry","source":{"id":"https://openalex.org/S4210223722","display_name":"Journal of Capital Markets Studies","issn_l":"2514-4774","issn":["2514-4774"],"is_oa":true,"is_in_doaj":true,"is_core":true,"listed_in":["cwts-core","doaj","erih-plus"],"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":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Capital Markets Studies","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4294568024.pdf","grobid_xml":"https://content.openalex.org/works/W4294568024.grobid-xml"},"referenced_works_count":38,"referenced_works":["https://openalex.org/W69521804","https://openalex.org/W163689214","https://openalex.org/W1557990918","https://openalex.org/W1991157387","https://openalex.org/W1998550414","https://openalex.org/W2002211765","https://openalex.org/W2019317901","https://openalex.org/W2037261324","https://openalex.org/W2038461267","https://openalex.org/W2042460640","https://openalex.org/W2042861055","https://openalex.org/W2053773151","https://openalex.org/W2054199588","https://openalex.org/W2111153355","https://openalex.org/W2111839071","https://openalex.org/W2117635233","https://openalex.org/W2133864799","https://openalex.org/W2138942858","https://openalex.org/W2139674032","https://openalex.org/W2150598666","https://openalex.org/W2160860931","https://openalex.org/W2325238807","https://openalex.org/W2511762006","https://openalex.org/W2551499527","https://openalex.org/W2587574273","https://openalex.org/W2891535305","https://openalex.org/W2892849161","https://openalex.org/W2915125472","https://openalex.org/W2931521381","https://openalex.org/W2968571680","https://openalex.org/W3005917285","https://openalex.org/W3016548141","https://openalex.org/W3121361868","https://openalex.org/W3122181768","https://openalex.org/W3122286715","https://openalex.org/W3124413275","https://openalex.org/W3125076105","https://openalex.org/W4231936897"],"related_works":["https://openalex.org/W3005917285","https://openalex.org/W2965227148","https://openalex.org/W2884291356","https://openalex.org/W6981370361","https://openalex.org/W2555354700","https://openalex.org/W204897716","https://openalex.org/W3121361868","https://openalex.org/W2006030083","https://openalex.org/W4403500650","https://openalex.org/W2035483448"],"abstract_inverted_index":{"Purpose":[0],"This":[1,144],"paper":[2,145],"explores":[3],"which":[4],"fundamental":[5],"aspects":[6],"of":[7,126,133,160,163],"US":[8,64,170],"insurance":[9,65,171],"firms":[10,38,66,94],"are":[11,67,75,81,95,115],"significant":[12],"factors":[13],"in":[14,131,168],"determining":[15],"whether":[16],"a":[17,21],"firm":[18],"will":[19],"be":[20,99],"target":[22,37],"or":[23,61],"acquirer":[24,41,129],"firm.":[25],"Design/methodology/approach":[26],"By":[27],"focusing":[28],"on":[29],"251":[30],"mergers":[31],"and":[32,39,48,83,89,109,112,117,166],"acquisitions":[33],"(M&A)":[34],"deals":[35],"(119":[36],"132":[40],"firms)":[42],"over":[43],"the":[44,55,124,147,158,169],"period":[45],"between":[46],"1990":[47],"2019,":[49],"multinomial":[50,152],"logistic":[51,153],"regression":[52,154],"results":[53],"identify":[54],"determinants":[56,159],"associated":[57],"with":[58],"becoming":[59,127],"targets":[60,72,165],"acquirers.":[62],"Findings":[63],"more":[68,96],"likely":[69,97],"to":[70,98,140,149,156],"become":[71],"if":[73,101,113],"they":[74,102,114],"smaller,":[76],"have":[77,86,103,120],"lower":[78],"cash":[79,107],"holdings,":[80],"non-life,":[82],"do":[84,118],"not":[85,119],"environmental,":[87],"social":[88],"governance":[90],"(ESG)":[91],"scores.":[92,122],"Insurance":[93],"acquirers":[100,167],"higher":[104,106,110],"profitability,":[105],"flow":[108],"intangibles,":[111],"non-life":[116],"ESG":[121],"Moreover,":[123],"likelihood":[125],"an":[128],"decreases":[130],"times":[132],"global":[134],"financial":[135],"crises":[136],"(GFCs)":[137],"as":[138],"compared":[139],"non-GFC":[141],"times.":[142],"Originality/value":[143],"is":[146],"first":[148],"utilize":[150],"multi-period":[151],"analysis":[155],"investigate":[157],"selection":[161],"decisions":[162],"M&A":[164],"industry.":[172]},"counts_by_year":[{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":1}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2022-09-04T00:00:00"}