An empirical investigation of the determinants of acquisition premia on the european merger market
Autor(a) principal: | |
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Data de Publicação: | 2023 |
Tipo de documento: | Dissertação |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10362/155924 |
Resumo: | This study examines how variables proposed by related literature affect the acquisition premium on the European merger market. In particular, the determinants of premia were investigated from several viewpoints based on a sample of 493 transactions. Results (i) confirm recent findings to a large extent; however, some variables lose explanatory power when controlling for external influences. (ii) The value of control and stock market momentum statistically explain the European acquisition premium best. (iii) The European acquisition premium is slightly higher than in the US, despite similar determinants. |
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An empirical investigation of the determinants of acquisition premia on the european merger marketMergers and acquisitionsEuropean M&AAcquisition premiumTarget and acquirer characteristicsMerger momentumDeal characteristicsDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis study examines how variables proposed by related literature affect the acquisition premium on the European merger market. In particular, the determinants of premia were investigated from several viewpoints based on a sample of 493 transactions. Results (i) confirm recent findings to a large extent; however, some variables lose explanatory power when controlling for external influences. (ii) The value of control and stock market momentum statistically explain the European acquisition premium best. (iii) The European acquisition premium is slightly higher than in the US, despite similar determinants.Soares, MargaridaRUNKonter, Daniel Maurice2023-07-28T10:33:17Z2023-01-112023-01-112023-01-11T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/155924TID:203311809enginfo: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:RCAAP2024-03-11T05:38:31Zoai:run.unl.pt:10362/155924Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:56:16.310243Repositório 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 |
An empirical investigation of the determinants of acquisition premia on the european merger market |
title |
An empirical investigation of the determinants of acquisition premia on the european merger market |
spellingShingle |
An empirical investigation of the determinants of acquisition premia on the european merger market Konter, Daniel Maurice Mergers and acquisitions European M&A Acquisition premium Target and acquirer characteristics Merger momentum Deal characteristics Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
title_short |
An empirical investigation of the determinants of acquisition premia on the european merger market |
title_full |
An empirical investigation of the determinants of acquisition premia on the european merger market |
title_fullStr |
An empirical investigation of the determinants of acquisition premia on the european merger market |
title_full_unstemmed |
An empirical investigation of the determinants of acquisition premia on the european merger market |
title_sort |
An empirical investigation of the determinants of acquisition premia on the european merger market |
author |
Konter, Daniel Maurice |
author_facet |
Konter, Daniel Maurice |
author_role |
author |
dc.contributor.none.fl_str_mv |
Soares, Margarida RUN |
dc.contributor.author.fl_str_mv |
Konter, Daniel Maurice |
dc.subject.por.fl_str_mv |
Mergers and acquisitions European M&A Acquisition premium Target and acquirer characteristics Merger momentum Deal characteristics Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
topic |
Mergers and acquisitions European M&A Acquisition premium Target and acquirer characteristics Merger momentum Deal characteristics Domínio/Área Científica::Ciências Sociais::Economia e Gestão |
description |
This study examines how variables proposed by related literature affect the acquisition premium on the European merger market. In particular, the determinants of premia were investigated from several viewpoints based on a sample of 493 transactions. Results (i) confirm recent findings to a large extent; however, some variables lose explanatory power when controlling for external influences. (ii) The value of control and stock market momentum statistically explain the European acquisition premium best. (iii) The European acquisition premium is slightly higher than in the US, despite similar determinants. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023-07-28T10:33:17Z 2023-01-11 2023-01-11 2023-01-11T00:00:00Z |
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/10362/155924 TID:203311809 |
url |
http://hdl.handle.net/10362/155924 |
identifier_str_mv |
TID:203311809 |
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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1799138148609949696 |