Mergers and acquisitions: value creation in the luxury goods industry

• Autor(a) principal: Yuqi, Zhao
• Data de Publicação: 2020
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10362/143072
• topic: Mergers and acquisitions; Event study; Luxury industry; Announcement effect; Domínio/Área Científica::Ciências Sociais::Economia e Gestão

With tremendous growth, the luxury goods industry is an intriguing puzzle with limited research on its announcement effect of mergers and acquisitions(M&A).This project examines this shortfall from the perspective of the acquirers using the event study. A statistically non-significant announcement effect is noted in main sample when targets are both private and public. For sub-samples, a statistically significant negative announcement effect, with the targets for public companies, is revealed. M&A in the Americas tends to produce positive abnormal returns, and there is nota significant difference between cross-border, or domestic, M&A in the luxury goods industry. All results are proved with evidence and tested using multiple statistical methods.