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Mergers and acquisitions impact on short-term performance for acquiring firms: A study of the Nordic countries
Jönköping University, Jönköping International Business School.
2019 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

The international literature on M&As is extensive, but evidence from the Nordic countries is scarce. The primary focus of this study is to examine whether the short-term performance of Nordic bidders is affected by the announcement of M&As conducted within the finance, insurance and real estate industry. This study analyzes 173 deals conducted between 01-01-2000 and 12-31-2018. An event study was conducted to isolate the abnormal returns resulting from M&A announcements, followed by a multiple regression analysis. The multiple regression analysis was used to gain further knowledge about performance factors influencing cumulative abnormal return (CAR), considering (1) payment method, (2) cross-border versus domestic deals, (3) market capitalization and (4) relative size. No evidence is found that the method of payment influences bidder abnormal return, whereas cross-border versus domestic transactions are found to influence Nordic countries differently. Market capitalization impact CAR negatively, moreover relative size is found to impact CAR positively in a majority of the cases.

Place, publisher, year, edition, pages
2019. , p. 37
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-44429ISRN: JU-IHH-NAA-2-20190128OAI: oai:DiVA.org:hj-44429DiVA, id: diva2:1323767
Subject / course
JIBS, Economics
Supervisors
Examiners
Available from: 2019-06-13 Created: 2019-06-12 Last updated: 2019-06-13Bibliographically approved

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Jönköping International Business School
Economics

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf