Many interdisciplinary studies of the 2007-2008 global financial crisis examine the causes of crisis, corporate governance and firm value, stock market efficiency, new firm registration, macroeconomic performance, and compare this crisis to previous crises. However, we do not find conceptual (empirical) studies that study foreign mergers or acquisitions with respect to the financial crisis. In this exploratory study, we perform an investigation using the UNCTAD's dataset of worldwide cross-border mergers and acquisitions (CB-M&As). We select 26 countries and employ the adjusted event-study method to find significant difference between the means of pre-crisis period (2004)(2005)(2006) and post-crisis period (2008-2010) for both sales and purchases in three variables, namely, number of deals, deal value, and average deal value. Our results show that the 2007-2008 global financial crisis has negatively affected both CB-M&A sale and purchase transactions all over the world from 2008 to 2009. We found, however, that after the crisis period, emerging market countries have taken advantage of the attractive asset prices in developed countries and increased their foreign acquisitions. Lastly, we offer "crisis-related CB-M&A propositions" that would facilitate future hypotheses testing, empirical studies, and policy-making research.

Access to this document was granted through an Emerald subscription provided by 353605 [] For AuthorsIf you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -The purpose and value of management education was always under the critics' scanner but the proliferation of institutes impelled a serious debate on its quality. The purpose of this paper is to identify the factors affecting quality of management education in India and explains their nature, significance and mutual influences using interpretive structural modelling (ISM). Design/methodology/approach -The factors were listed through literature review. They were then validated by empirical research conducted through questionnaires administered electronically and personally to 220 master of business administration students and alumni. On 13 such factors finalised, a qualitative and interpretive tool, ISM was applied. Findings -Leadership emerged as the most important factor followed by organisational structure and practices. Interrelations otherwise not easily observable established their prominence. An important fact that evolved is that almost all the factors have strong interdependence and have to be seen in coherence when analysing their impact on students. Originality/value -The literature until now has been highlighting the factors and their association with management education largely in isolation. This paper contributes to the existing literature by proposing a framework of the interrelationships of the factors which have a role in improving the quality of management education.

Purpose – The purpose of this paper is to identify challenges for management education in India and explain their nature, significance and interrelations using total interpretive structural modelling (TISM), an innovative version of Warfield’s interpretive structural modelling (ISM). Design/methodology/approach – The challenges have been drawn from literature and validated by an empirical study conducted through questionnaires administered electronically and personally to 250 management graduates. TISM has been applied to 14 finalised factors. Findings – All the identified factors, except accreditation, were found to be important. Ineffective regulatory bodies and ineffective leadership emerged as the biggest roadblocks. Several significant interrelations were found which were sometimes not revealed by plain observation. Originality/value – The existing literature has discussed the challenges for management education but not their interrelations. This paper uses TISM to demonstrate the relationships between different challenges and to explain the logic behind the relationships. The results would be useful for the owners (or managers) of management institutes faced with the same challenges.

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Subject area corporate policy and strategy – mergers and acquisitions. Study level/applicability Post graduation (MBA and other management degrees). It includes courses on Strategic Management, Business Environment and International Business. Case overview Markets are becoming highly connective, accessible and communicative and reaching maturity at a very high phase. Acquisition is a choice to enhance the emerging and diversified markets. This case paper presents insights on Vedanta – Cairn India cross-border acquisition deal in Indian oil and exploration industry. This case synchronizes the gap between strategic planning and outcome of actions. The study exclusively evidences the reaction of stocks of all attached parties against acquisition announcement and compares with market performance. Expected learning outcomes Strategic mapping of business negotiations, while in-organic choices, further the impact of economic, political, legal and regulatory factors on cross-border mergers and acquisitions (M&A), deliberate deal financing mechanism and leadership diplomacy. It proposes from the viewpoint of corporate in-organic alternatives and to strengthen the upcoming research field of strategy & policy. Supplementary materials Global M&A market, shareholding pattern, income statement and balance sheet of Cairn India Ltd, financial figures of Vedanta Resources, tabular data on stock and index performance, deal structure and teaching note.

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It is worth mentioning that a great deal of financial liberalization, privatization and internationalization policies in emerging economies have significantly increased the corporate restructuring activities like mergers, acquisitions, share repurchases, and stock splits, among others. Indeed, the activity that is investigated in this paper is 'share repurchases' and its effect on stock returns and price-to-earnings (P/E) ratio. More deeply, this paper will answer the research question-does a share repurchase offer abnormal returns around the announcement? Thus, it is performed in one of the Asian emerging markets-India. To do so, we use event-study method to examine abnormal returns and P/E signaling around the announcement of 64 share repurchases, announced during 2008-2009. It is found that stock performance does not adequate, and notices lower as well as negative earnings during post-buyback period. Briefly, we conclude that share repurchases assure short-term returns, and observe lower P/E compared to pre-buyback period. In addition, we show some interesting results that derived from industrial and services sectors. The outcome of this paper would help financial analysts, financial advisors, corporate enterprises and regulatory bodies in designing policies on earnings distribution, managerial incentives, takeovers, and so forth of regulatory aspects.