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Merger waves: the effect on post-merger corporate Pperformance

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Resumo:The research offers a thorough analysis of the influence of historical merger waves on post merger corporate performance. Through the application of statistical tests and regressions, I show that mergers and acquisitions initiated during merger waves are associated with higher short-term abnormal stock returns and lower long-term abnormal stock returns. In contrast to existing research, I use the Fama–French three-factor model to measure the cumulative abnormal stock performance of acquirers for two-day, two-year, and three-year periods following the acquisition.
Autores principais:Ivackovic, Sara
Assunto:Merger & acquisitions M&A Merger waves Corporate performance Long-Tterm abnormal returns Short-term abnormal returns Value Ccreation Off-wave On-wave Wealth effect
Ano:2023
País:Portugal
Tipo de documento:dissertação de mestrado
Tipo de acesso:acesso aberto
Instituição associada:Universidade Nova de Lisboa
Idioma:inglês
Origem:Repositório Institucional da UNL

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