Abstract
Recent research has determined that managers are increasingly concerned with how institutional investors and securities analysts view their companies’ long term strategies. This article examines characteristics of international acquisitions that influence professional stock analysts’ estimates of the acquirer’s earnings per share. Previous international acquisition experience and target country operating experience positively affect analysts’ estimates of stock earnings, and relatedness between the parent and target business lines also affects analyst estimates when viewed in light of operating experience in the acquisition target’s home country.
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