The economic situation as a determinant of value created during mergers and acquisitions
AbstractThe 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.
|Journal series||Przegląd Naukowo -Metodyczny. Edukacja dla Bezpieczeństwa, ISSN 1899-3524, (B 9 pkt)|
|Publication size in sheets||0.5|
|Keywords in English||mergers, acquisitions, event study, economic situation|
|Score|| = 8.0, 31-03-2019, ArticleFromJournal|
= 9.0, 31-03-2019, ArticleFromJournal
* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.