The economic situation as a determinant of value created during mergers and acquisitions

Marcin Bielicki

Abstract

The aim of the paper is to examine impact of the economic situation on the M&A on Polish capital market. The event study method is used to identify the difference in value creating in transaction on bear and bull market. Based on these results, it was found that in both cases gain mostly shareholders of the acquired companies, which is consistent with previous domestic and foreign research. In addition, it was noted that during downturns in case of a company being a target of a takeover there is a significantly higher abnormal rate of return. It could be caused by behavioral factors.
Author Marcin Bielicki (WE / KTPiPP)
Marcin Bielicki,,
- Department of Money Theory and Monetary Policy
Journal seriesPrzegląd Naukowo -Metodyczny. Edukacja dla Bezpieczeństwa, ISSN 1899-3524, (B 9 pkt)
Issue year2016
No3 (32)
Pages251-259
Publication size in sheets0.5
Keywords in Englishmergers, acquisitions, event study, economic situation
URL http://www.przeglad.wsb.net.pl/uploads/1/0/3/7/10371016/ca%C5%81o%C5%9A%C4%86_zn_32.pdf
Languageen angielski
Score (nominal)9
ScoreMinisterial score = 8.0, 31-03-2019, ArticleFromJournal
Ministerial score (2013-2016) = 9.0, 31-03-2019, ArticleFromJournal
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