The study of events approach applied to the impact of mergers and acquisitions on the performance of consulting engineering companies
Autor(a) principal: | |
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Data de Publicação: | 2021 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10071/21283 |
Resumo: | Recent research suggests that one of the main motivations for mergers and acquisitions is the attempt to acquire companies to incorporate intangible assets. Such assets provide important sources of sustainable competitive advantages and opportunities for growth. This article analyzes the strategies of engineering companies, as well as value creation in acquisition events of multinational companies, by using the study of the events method, providing an innovative way to be applied to this phenomenon. This method is used in our research to study the influence of the announcement of acquisitions on the abnormal accumulated returns of the acquiring companies, and is allowed to confirm that influence. In general, the average accumulated returns were positive and statistically significant in the three windows of the method, according to the significance tests used. The results validate the hypothesis that the events generate synergy gains for market players, emphasizing the importance of growth via acquisitions for the sector under analysis. |
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The study of events approach applied to the impact of mergers and acquisitions on the performance of consulting engineering companiesCompany acquisitionEvent studyAccumulated abnormal returnSynthetic control methodIncreased synergyValue creationRecent research suggests that one of the main motivations for mergers and acquisitions is the attempt to acquire companies to incorporate intangible assets. Such assets provide important sources of sustainable competitive advantages and opportunities for growth. This article analyzes the strategies of engineering companies, as well as value creation in acquisition events of multinational companies, by using the study of the events method, providing an innovative way to be applied to this phenomenon. This method is used in our research to study the influence of the announcement of acquisitions on the abnormal accumulated returns of the acquiring companies, and is allowed to confirm that influence. In general, the average accumulated returns were positive and statistically significant in the three windows of the method, according to the significance tests used. The results validate the hypothesis that the events generate synergy gains for market players, emphasizing the importance of growth via acquisitions for the sector under analysis.MDPI AG2021-01-14T19:55:00Z2021-01-01T00:00:00Z20212021-01-14T19:53:08Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10071/21283eng2227-739010.3390/math9020130Albuquerque Junior, M.Filipe, J.Neto, P. De M.Silva, C. Dainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-11-09T17:52:37Zoai:repositorio.iscte-iul.pt:10071/21283Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T22:26:14.425531Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The study of events approach applied to the impact of mergers and acquisitions on the performance of consulting engineering companies |
title |
The study of events approach applied to the impact of mergers and acquisitions on the performance of consulting engineering companies |
spellingShingle |
The study of events approach applied to the impact of mergers and acquisitions on the performance of consulting engineering companies Albuquerque Junior, M. Company acquisition Event study Accumulated abnormal return Synthetic control method Increased synergy Value creation |
title_short |
The study of events approach applied to the impact of mergers and acquisitions on the performance of consulting engineering companies |
title_full |
The study of events approach applied to the impact of mergers and acquisitions on the performance of consulting engineering companies |
title_fullStr |
The study of events approach applied to the impact of mergers and acquisitions on the performance of consulting engineering companies |
title_full_unstemmed |
The study of events approach applied to the impact of mergers and acquisitions on the performance of consulting engineering companies |
title_sort |
The study of events approach applied to the impact of mergers and acquisitions on the performance of consulting engineering companies |
author |
Albuquerque Junior, M. |
author_facet |
Albuquerque Junior, M. Filipe, J. Neto, P. De M. Silva, C. Da |
author_role |
author |
author2 |
Filipe, J. Neto, P. De M. Silva, C. Da |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Albuquerque Junior, M. Filipe, J. Neto, P. De M. Silva, C. Da |
dc.subject.por.fl_str_mv |
Company acquisition Event study Accumulated abnormal return Synthetic control method Increased synergy Value creation |
topic |
Company acquisition Event study Accumulated abnormal return Synthetic control method Increased synergy Value creation |
description |
Recent research suggests that one of the main motivations for mergers and acquisitions is the attempt to acquire companies to incorporate intangible assets. Such assets provide important sources of sustainable competitive advantages and opportunities for growth. This article analyzes the strategies of engineering companies, as well as value creation in acquisition events of multinational companies, by using the study of the events method, providing an innovative way to be applied to this phenomenon. This method is used in our research to study the influence of the announcement of acquisitions on the abnormal accumulated returns of the acquiring companies, and is allowed to confirm that influence. In general, the average accumulated returns were positive and statistically significant in the three windows of the method, according to the significance tests used. The results validate the hypothesis that the events generate synergy gains for market players, emphasizing the importance of growth via acquisitions for the sector under analysis. |
publishDate |
2021 |
dc.date.none.fl_str_mv |
2021-01-14T19:55:00Z 2021-01-01T00:00:00Z 2021 2021-01-14T19:53:08Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10071/21283 |
url |
http://hdl.handle.net/10071/21283 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
2227-7390 10.3390/math9020130 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
MDPI AG |
publisher.none.fl_str_mv |
MDPI AG |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799134825325527040 |