This study analyses family versus nonfamily firm returns under different legal environments when a merger and acquisition (M&A) is announced. The database includes 124 M&As of European-listed firms (15 countries), with acquired firms being worldwide public or private firms (23 countries), over the 2002 to 2004 period. The findings show that family ownership has a positive and significant influence on acquiring shareholder M&A valuation. However, a major shareholder ownership of 32% has a negative effect. The authors also observe that a weaker legal and institutional environment in the target country has a positive influence on acquiring shareholder valuation.
The teaching-learning model that still predominates in higher education is the traditional one, based on the master class taught by the teacher. However, it is necessary to resort to other models of teaching and learning that are more flexible and active for students. For this reason, the main objective of this paper is to apply the flipped classroom teaching-learning model in order to test and compare if the academic results of students with the flipped classroom model improve with respect to the traditional model at different educational levels. In addition, the students' assessment of this teaching-learning model and the use of Information and Communication Technologies is analyzed. This study presents the experience of teaching innovation based on the inverted class model, which has been carried out with 155 students belonging to different educational levels and with six subjects related to the Financial Economics discipline. For this, a descriptive statistical analysis is performed, as well as analysis of contingency tables to detect the degree of association between the educational level and the teaching-learning model applied for the evaluation of the students. Evidence is obtained that university students obtain better academic results with the traditional model, while non-university students achieve better grades with the flipped classroom model. However, the students' assessment of the flipped classroom model has been very positive, regardless of educational level. The results suggest that the flipped classroom model improves the academic results of non-university students because they are more accustomed to the application of new technologies than university students.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.