dc.contributor.author | Billings, M | |
dc.contributor.author | Tilba, A | |
dc.contributor.author | Wilson, J | |
dc.date.accessioned | 2018-06-08T10:42:30Z | |
dc.date.issued | 2015-09-15 | |
dc.description.abstract | Mergers and acquisitions frequently destroy shareholder value, and UK companies have a particularly poor record in US deals. But outcomes are rarely as calamitous as in the case of the British electronics group Ferranti which in 1987 entered into a significant merger with the US company International Signal and Control Group (ISC). The combined group had collapsed by 1993. Our analysis of the case, seen in the light of more recent corporate failures such as the Royal Bank of Scotland (RBS), leads us to question whether the UK’s ‘idiosyncratic mix’ of corporate governance mechanisms can ever effectively constrain the flawed and dictatorial decision-making of dominant individuals. | en_GB |
dc.description.sponsorship | Preliminary versions of this article were presented at the Accounting History International Conference, the Accounting History Review conference, the Association of Business Historians conference, the Economic and Business History Society conference, the World Congress of Accounting Historians, and a seminar at the University of Exeter Business School. We thank participants, particularly Tony Arnold, Peter Miskell and Christopher Napier, for their comments. Discussions with Dick Edwards, Chris Pong, Brenda Porter, Richard Roberts and Will Spinney helped us to clarify various issues. We also thank the Associate Editor, Abe de Jong, and the anonymous reviewers of this journal for helpful comments. | en_GB |
dc.identifier.citation | Published online 15 September 2015 | en_GB |
dc.identifier.doi | 10.1080/00076791.2015.1085973 | |
dc.identifier.uri | http://hdl.handle.net/10871/33123 | |
dc.language.iso | en | en_GB |
dc.publisher | Taylor & Francis (Routledge) | en_GB |
dc.rights | © 2015, Taylor & Francis (Routledge). All rights reserved. | en_GB |
dc.subject | Accounting scandals | en_GB |
dc.subject | corporate governance | en_GB |
dc.subject | due diligence | en_GB |
dc.subject | Ferranti | en_GB |
dc.subject | ISC | en_GB |
dc.title | ‘To invite disappointment or worse’: governance, audit and due diligence in the Ferranti–ISC merger | en_GB |
dc.type | Article | en_GB |
dc.date.available | 2018-06-08T10:42:30Z | |
dc.identifier.issn | 0007-6791 | |
dc.description | This is the author accepted manuscript. The final version is available from Taylor & Francis (Routledge) via the DOI in this record. | en_GB |
dc.identifier.journal | Business History | en_GB |