The acquisitions of inoovation in times of recession

• Autor(a) principal: Schreiber, Deborah
• Data de Publicação: 2016
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10362/18265
• topic: Valuation; Mergers and acquisition; Innovative business models; Domínio/Área Científica::Ciências Sociais::Economia e Gestão

This paper provides a fundamental understanding of the importance of mergers and acquisitions in an always-changing business environment by referring to the Portuguese economy. It analyzes and evaluates an acquisition of a small innovative firm offering customer-specific trainings by a mid-size human resource consulting firm intending to build up competitive advantages in times of recession. Research was conducted to indicate the framework and process of acquisitions, and to learn about different approaches of valuation models that is then applied to a practical valuation case. Results obtained imply that the target is underpriced since the valuation result provided by the target’s management deviates a lot and therefore entails an observation of the provided valuation.