Mergers and Acquisitions
The Chair of Mergers and Acquisitions focuses its research and teaching activities on the broad area of corporate finance with a focus on mergers and acquisitions, investment banking, and corporate valuation.
Professor Dr. Aktas holds the Chair of Mergers and Acquisitions at WHU – Otto Beisheim School of Management since September 2013. He is also the co-director of the executive education program devoted to Mergers and Acquisitions at WHU. He previously worked at Skema Business School (France), EMLYON Business School (France), and Louvain School of Management (Université catholique de Louvain). Being interested in empirical corporate finance in general, Professor Dr. Aktas is known for his research articles on Mergers and Acquisitions published in leading international journals including the Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Economic Journal, Journal of Corporate Finance, and Journal of Banking & Finance. His research has been featured on the programs of leading international conferences, and quoted in widely read international media, such as the Financial Times, The New York Times, and Sueddeutsche Zeitung. He was a visiting researcher at the Anderson School of Management (UCLA, Los Angeles) in 2001–2002. Professor Dr. Aktas is also a member of the Supervisory Board of Pulcra Chemicals.
Recent research publications –
by Professor Dr. Nihat Aktas.
The role of internal M&A teams in takeovers
Aktas, N., Boone, A., Witkowski, A., Xu, G., Yurtoglu, B. (Accepted), Review of Finance
CEO duality, agency costs, and internal capital allocation efficiency
Aktas, N., Andreou, P., Karasamani, I., Philip, D. (2019), British Journal of Management: BJM, Vol. 30 (2), pp. 473-493
CEO overconfidence and the value of corporate cash holdings
Aktas, N., Louca, C., Petmezas, D. (2019), Journal of Corporate Finance, Vol. 54, pp. 85-106
Stock market development and the financing role of IPOs in acquisitions
Aktas, N., Andries, K., Croci, E., Özdakak, A. (2019), Journal of Banking & Finance, Vol. 98, pp. 25-38
She is mine: determinants and value effects of early announcements in takeovers
Aktas, N., Xu, G., Yurtoglu, B. (2018), Journal of Corporate Finance, Vol. 50, pp. 180-202
CEO duality, agency costs, and internal capital allocations
Philip, D., Karasamani, I., Aktas, N., Panayiotis, A. (2016), Harvard Law School Forum on Corporate Governance and Financial Regulation
CEO narcissism and the takeover process: from private initiation to deal completion
Aktas, N., De Bodt, E., Bollaert, H., Roll, R. (2016), Journal of Financial and Quantitative Analysis: JFQA, Vol. 51, pp. 113-137
Corporate governance and takeover outcomes
Aktas, N., Croci, E., Simsir, S. (2016), Corporate Governance: An International Review, Vol. 24, pp. 242-252
Industry IPOs, growth opportunities, and private target acquisitions
Aktas, N., Cousin, J., Özdakak, A., Zhang, J. (2016), Journal of Corporate Finance, Vol. 37, pp. 193–209
Value of control in family firms: evidence from mergers and acquisitions
Aktas, N., Centineo, S., Croci, E. (2016), Multinational Finance Journal: MFJ, Vol. 20, pp. 85-126
Increased entry threat and merger activity
Aktas, N., Decklerck-Dupire, M. (2015), Finance : Revue de l'Association Française de Finance, Vol. 36, pp. 75-115
Is working capital management value-enhancing? evidence from firm performance and investments
Aktas, N., Croci, E., Petmezas, D. (2015), Journal of Corporate Finance, Vol. 30, pp. 98-113
Selected research publications –
by Professor Dr. Nihat Aktas.
CEO narcissism and the takeover process
Learning from repetitive acquisitions: Evidence from the time between deals
Negotiations under the threat of an auction
Bachelor and Master courses –
as well as final theses.
- Corporate Finance, mandatory BSc course, 2nd semester
- Valuation and M&A, elective MiF course, 1st semester
- Mergers and Acquisitions, elective MiM course, 2nd semester
- Investment Banking, MBA
- Mergers & Acquisitions, MBA