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It is worth mentioning that mergers and acquisitions (M&As) have become a popular vehicle for emerging‐markets firms to rapidly access new opportunities and market capabilities. Indeed, privatization and multi‐nationalization have given a greater shore up in raising global and domestic merger deals. Motivated by these factors, the purpose of this paper is to investigate “do mergers produce abnormal returns around the announcement; conversely, do they improve financial performance in the long‐run?”

The study applies earnings management approach (event study) to compute average abnormal returns (AAR) around the merger announcement for select Indian M&A cases. Further, accounting ratios are considered to assess the long‐run financial performance. Thereafter, t‐stat is applied for testing the proposed hypotheses. In particular, it has performed a later test to the means of financial ratios and variables for both services and manufacturing sectors in accounting ratios and cylinder models, respectively.

The select Indian M&A cases show superior performance during the post‐merger period for both manufacturing and services sectors, and observe a balance sheet improvement in the long‐run.

Sample is one of the limitations to the study. Due to small sample of merger cases, this paper has limited scope to generalize the results. Hence, academic researchers may employ the suggested assessment (cylinder)‐models on a large sample.

The research work would help financial analysts, stockbrokers, M&A advisory and regulatory bodies while designing takeover and open offer policies.

This is an original contribution, which has developed new assessment (cylinder)‐models to examine the post‐merger long‐run financial performance of acquiring firms, especially sector‐wise evaluation.

The advancement of technology has brought much uncertainty in the access and utilization of information resources in academic libraries. This research sought to determine the extent to which academic libraries in Kenya engage in innovation and use innovative strategies. In addition, this study aims to identify the specific innovation practices and strategies used by these libraries to ensure they effectively address users’ information needs and remain relevant within the Kenyan context.

This study adopted a qualitative research design. Data was collected using face-to-face interviews that targeted key personnel in the academic library system, including the university librarian, the circulation librarian and the digital/systems librarian. In total, 21 respondents were interviewed in this study. Additional data was gathered by examining primary documents such as academic library policies, university websites and library brochures, among other sources. The study used purposive sampling techniques to select the population sample and the theoretical saturation to determine the sample size.

The study revealed a pressing need for change in the academic library landscape in Kenya. It established that the concept of innovation and innovation strategies is still new in academic libraries in Kenya, and libraries are still confined to traditional and routine duties. There is a lack of appropriate strategies for enhancing innovation practices/strategies in academic libraries. The paper, therefore, strongly recommends the reorganization of academic libraries in Kenya.

To the best of the authors’ knowledge, this research is the first to analyze innovation strategies and practices in academic libraries in Kenya. This study sheds light on the puzzles facing most academic libraries in Kenya regarding innovation and innovation strategies. It introduces the importance of academic libraries to embrace innovation as a strategy to avoid disruptive innovation.