12.01.2015 Views

Post merger profitability analysis of shareholders. Evidence from ...

Post merger profitability analysis of shareholders. Evidence from ...

Post merger profitability analysis of shareholders. Evidence from ...

SHOW MORE
SHOW LESS

You also want an ePaper? Increase the reach of your titles

YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.

Contents<br />

Acknowledgements 03<br />

Abstract 04<br />

Abbreviations 05<br />

List <strong>of</strong> Figures and Tables<br />

Chapter 1 Introduction 07<br />

Chapter 2 Literature review 10<br />

Chapter 3 Methodology 38<br />

Chapter 4 Results 60<br />

Chapter 5 Analysis 68<br />

Chapter 6 Conclusions 90<br />

References 94<br />

Appendices 104<br />

List <strong>of</strong> Figures and Tables<br />

Table 1 Summary performance during the estimation period<br />

Table 2: Summary performance during the event period<br />

Table 3 Summary performance during the post-event period<br />

Table 4 Alpha and beta coefficients<br />

Table 5 Portfolios <strong>of</strong> cash-shares acquisitions<br />

Table 6 Portfolios <strong>of</strong> hostile-friendly acquisitions<br />

Table 7 Portfolios <strong>of</strong> related-unrelated acquisitions<br />

Figure 1 Major European and US deals<br />

Figure 2 Mean abnormal performance<br />

Figure 3 Mean abnormal performance post event period<br />

6

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!