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Erschienen in:
Multi-period Portfolio Optimisation Using a Regime-Switching Predictive Framework Kapitel lesen Erstes Kapitel lesen

2024 | OriginalPaper | Buchkapitel

Cross-Industry M&A and Target Output: Impact on Acquirors’ Performance

verfasst von : Yiyan Hu

Erschienen in: New Perspectives and Paradigms in Applied Economics and Business

Verlag: Springer Nature Switzerland

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Abstract

Mergers and acquisitions (M&A) are highly significant economic activities. Despite the hundreds of academic studies investigating firm performance around and after an M&A, the targets’ characteristics which influence the consequences of a deal are still not well understood. Using OLS and double fixed effects models, we find that there are significant differences between acquirors and targets. Specifically, the acquirors’ earnings before interest, number of employees, PPE (property, plant and equipment) and sales/turnover are all significantly higher than those of the target. Besides, we also find that the size of the acquiror increases significantly after M&A. Most importantly, the cross-industry and output per capita of the targets affect the post-acquisition performance of acquirors significantly. Our study highlights the importance of target choice and M&A decision.

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Vorheriges Kapitel Strategies for Conservation and Utilization of Shudao Linear Cultural Heritage Based on Digital Twin Technology
Nächstes Kapitel Analysis of the Implementation of Enterprise Risk Management (ERM) on the Performance of Financial Statements in Real Estate Company
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Fußnoten
1
Earnings Before Interest, Tax, Depreciation and Amortization.
 
2
The numbers of employees.
 
3
The total plant and equipment.
 
4
The sales divided by turnover.
 
5
The mean value of the variable Size1 is 5.062724 (untabulated).
 
6
The mean value of the variable Size2 is 14.76271 (untabulated).
 
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Metadaten
Titel
Cross-Industry M&A and Target Output: Impact on Acquirors’ Performance
verfasst von
Yiyan Hu
Copyright-Jahr
2024
Buch
New Perspectives and Paradigms in Applied Economics and Business

Print ISBN: 978-3-031-49950-0

Electronic ISBN: 978-3-031-49951-7

Copyright-Jahr: 2024

DOI
https://doi.org/10.1007/978-3-031-49951-7_14