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Takeovers in Sweden: The Returns to Acquiring Firms
Jönköping University, Jönköping International Business School, JIBS, Economics.
2007 (English)Independent thesis Advanced level (degree of Magister), 10 points / 15 hpStudent thesis
Abstract [en]

A takeover announcement does not necessarily mean good news for stockholders of the acquiring firm. In fact, for a majority of takeovers it means losses in share prices. Motives that can explain this trend are agency and hubris. This thesis is an event study of 28 acquir-ing firms in Sweden between the years 1997-2005, and the purpose is set to see whether stock prices are affected or not. This has been done by the help of the market model. The empirical results show that the takeovers are on average value decreasing operations which indicate that agency and hubris are the primary motives even though one can not for cer-tain exclude synergy.

Place, publisher, year, edition, pages
2007. , 17 p.
Keyword [en]
Takeovers, Shareholder Return, Market Model
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-1006OAI: oai:DiVA.org:hj-1006DiVA: diva2:3436
Uppsok
samhälle/juridik
Supervisors
Available from: 2007-10-15 Created: 2007-10-15

Open Access in DiVA

fulltext(227 kB)504 downloads
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File name FULLTEXT01.pdfFile size 227 kBChecksum MD5
8ad874c39bca3374177e8c16d9db90463ba946c0f69d438233339e5a49de674901bc0fe1
Type fulltextMimetype application/pdf

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CiteExportLink to record
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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
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Output format
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  • asciidoc
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