{"id":111425,"date":"2018-03-11T10:37:56","date_gmt":"2018-03-11T10:37:56","guid":{"rendered":"https:\/\/www.deberes.net\/tesis\/sin-categoria\/valoracion-de-las-fusiones-y-adquisiciones-en-distintos-entornos-legales-e-institucionales\/"},"modified":"2018-03-11T10:37:56","modified_gmt":"2018-03-11T10:37:56","slug":"valoracion-de-las-fusiones-y-adquisiciones-en-distintos-entornos-legales-e-institucionales","status":"publish","type":"post","link":"https:\/\/www.deberes.net\/tesis\/oviedo\/valoracion-de-las-fusiones-y-adquisiciones-en-distintos-entornos-legales-e-institucionales\/","title":{"rendered":"Valoraci\u00f3n de las fusiones y adquisiciones en distintos entornos legales e institucionales"},"content":{"rendered":"<h2>Tesis doctoral de <strong> Isabel Feito Ruiz <\/strong><\/h2>\n<p>El objetivo de esta tesis doctoral es analizar la valoraci\u00f3n que realizan los accionistas de las empresas adquirentes de las f&#038;as, as\u00ed como la influencia que pueden tener la estructura de propiedad y las caracter\u00edsticas del entorno legal e institucional tambi\u00e9n sobre el tipo de operaci\u00f3n de f&#038;a que se decida realizar, en relaci\u00f3n con el m\u00e9todo de pago elegido, la decisi\u00f3n de diversificar o no la actividad y la posibilidad de que la operaci\u00f3n sea nacional o transnacional. Estas decisiones pueden estar influidas por los conflictos de agencia entre directivos y accionistas, o entre accionistas mayoritarios y minoritarios, y por las caracter\u00edsticas del entorno legal e institucional. La tesis contribuye a extender los planteamientos te\u00f3ricos y la evidencia emp\u00edrica sobre la valoraci\u00f3n de las f&#038;as, de acuerdo con los desarrollos de la teor\u00eda de la agencia y de la teor\u00eda del \u00ablaw and finance\u00bb. las hip\u00f3tesis que se plantean se contrastan emp\u00edricamente, sobre la base de datos de  las f&#038;as anunciadas por empresas europeas durante el per\u00edodo 2002-2007. Los resultados obtenidos muestran que los accionistas de la adquirente valoran positivamente el anuncio de una operaci\u00f3n de f&#038;a en los diferentes entornos legales e institucionales. Se observa tambi\u00e9n que en aquellos pa\u00edses con menor protecci\u00f3n del inversor y menor desarrollo de los mercados de control corporativo, las empresas adquirentes emprenden m\u00e1s operaciones de f&#038;a pagadas con efectivo, es m\u00e1s probable que acometan operaciones que diversifiquen la actividad, as\u00ed como tambi\u00e9n f&#038;a transnacionales.  los resultados ponen de manifiesto que el entorno legal e institucional act\u00faa como factor moderador de los conflictos de agencia, asimetr\u00edas informativas y costes de transacci\u00f3n cuando se toman decisiones de f&#038;a y cuando los accionistas de la empresa adquirente valoran dichas operaciones.<\/p>\n<p>&nbsp;<\/p>\n<h3>Datos acad\u00e9micos de la tesis doctoral \u00ab<strong>Valoraci\u00f3n de las fusiones y adquisiciones en distintos entornos legales e institucionales<\/strong>\u00ab<\/h3>\n<ul>\n<li><strong>T\u00edtulo de la tesis:<\/strong>\u00a0 Valoraci\u00f3n de las fusiones y adquisiciones en distintos entornos legales e institucionales <\/li>\n<li><strong>Autor:<\/strong>\u00a0 Isabel Feito Ruiz <\/li>\n<li><strong>Universidad:<\/strong>\u00a0 Oviedo<\/li>\n<li><strong>Fecha de lectura de la tesis:<\/strong>\u00a0 17\/10\/2011<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Direcci\u00f3n y tribunal<\/h3>\n<ul>\n<li><strong>Director de la tesis<\/strong>\n<ul>\n<li>Susana Men\u00e9ndez Requejo<\/li>\n<\/ul>\n<\/li>\n<li><strong>Tribunal<\/strong>\n<ul>\n<li>Presidente del tribunal: Jos\u00e9 alvaro Cuervo garcia <\/li>\n<li>rafel Cresp\u00ed cladera (vocal)<\/li>\n<li>inmaculada Aguiar d\u00edaz (vocal)<\/li>\n<li>jo Danbolt (vocal)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesis doctoral de Isabel Feito Ruiz El objetivo de esta tesis doctoral es analizar la valoraci\u00f3n que realizan los accionistas [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[15054,8846],"tags":[55905,222008,222009,796,73566,9261],"class_list":["post-111425","post","type-post","status-publish","format-standard","hentry","category-finanzas-internacionales","category-oviedo","tag-inmaculada-aguiar-diaz","tag-isabel-feito-ruiz","tag-jo-danbolt","tag-jose-alvaro-cuervo-garcia","tag-rafel-crespi-cladera","tag-susana-menendez-requejo"],"_links":{"self":[{"href":"https:\/\/www.deberes.net\/tesis\/wp-json\/wp\/v2\/posts\/111425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.deberes.net\/tesis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.deberes.net\/tesis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.deberes.net\/tesis\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.deberes.net\/tesis\/wp-json\/wp\/v2\/comments?post=111425"}],"version-history":[{"count":0,"href":"https:\/\/www.deberes.net\/tesis\/wp-json\/wp\/v2\/posts\/111425\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.deberes.net\/tesis\/wp-json\/wp\/v2\/media?parent=111425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.deberes.net\/tesis\/wp-json\/wp\/v2\/categories?post=111425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.deberes.net\/tesis\/wp-json\/wp\/v2\/tags?post=111425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}