Event study - the impact of merger announcement on the company´s stock prices

Detalhes bibliográficos
Autor(a) principal: Cheng, Haorun
Data de Publicação: 2021
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/132602
Resumo: In 2019, U.S. Mergers & Acquisitions Value accounted for 9.31% of the U.S. GDP. To understand whether firms benefit or not from practicing M&A transactions, it is investigated in this paper the effect of merger announcement on both the acquirer’s and the target’s stock. Different methodologies for expected return are presented and discussed, afterwards, based on the abnormal returns calculated, the assumption of market efficiency is tested along with a cross-sectional comparison between different industries and time period.
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spelling Event study - the impact of merger announcement on the company´s stock pricesPublicly listed companiesMergersEvent-studyExpected returnAbnormalDomínio/Área Científica::Ciências Sociais::Economia e GestãoIn 2019, U.S. Mergers & Acquisitions Value accounted for 9.31% of the U.S. GDP. To understand whether firms benefit or not from practicing M&A transactions, it is investigated in this paper the effect of merger announcement on both the acquirer’s and the target’s stock. Different methodologies for expected return are presented and discussed, afterwards, based on the abnormal returns calculated, the assumption of market efficiency is tested along with a cross-sectional comparison between different industries and time period.Soares, Maria Margarida FigueiredoRUNCheng, Haorun2024-01-20T01:31:01Z2021-01-202021-01-202021-01-20T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/132602TID:202829650enginfo: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:RCAAP2024-03-11T05:11:18Zoai:run.unl.pt:10362/132602Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:47:32.437331Repositório 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 Event study - the impact of merger announcement on the company´s stock prices
title Event study - the impact of merger announcement on the company´s stock prices
spellingShingle Event study - the impact of merger announcement on the company´s stock prices
Cheng, Haorun
Publicly listed companies
Mergers
Event-study
Expected return
Abnormal
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Event study - the impact of merger announcement on the company´s stock prices
title_full Event study - the impact of merger announcement on the company´s stock prices
title_fullStr Event study - the impact of merger announcement on the company´s stock prices
title_full_unstemmed Event study - the impact of merger announcement on the company´s stock prices
title_sort Event study - the impact of merger announcement on the company´s stock prices
author Cheng, Haorun
author_facet Cheng, Haorun
author_role author
dc.contributor.none.fl_str_mv Soares, Maria Margarida Figueiredo
RUN
dc.contributor.author.fl_str_mv Cheng, Haorun
dc.subject.por.fl_str_mv Publicly listed companies
Mergers
Event-study
Expected return
Abnormal
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Publicly listed companies
Mergers
Event-study
Expected return
Abnormal
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description In 2019, U.S. Mergers & Acquisitions Value accounted for 9.31% of the U.S. GDP. To understand whether firms benefit or not from practicing M&A transactions, it is investigated in this paper the effect of merger announcement on both the acquirer’s and the target’s stock. Different methodologies for expected return are presented and discussed, afterwards, based on the abnormal returns calculated, the assumption of market efficiency is tested along with a cross-sectional comparison between different industries and time period.
publishDate 2021
dc.date.none.fl_str_mv 2021-01-20
2021-01-20
2021-01-20T00:00:00Z
2024-01-20T01:31:01Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/132602
TID:202829650
url http://hdl.handle.net/10362/132602
identifier_str_mv TID:202829650
dc.language.iso.fl_str_mv eng
language eng
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.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
instname_str 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)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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