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Effects of Mergers and Acquisitions ...

Tufts University.

Effects of Mergers and Acquisitions on Corporation Valuation.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Effects of Mergers and Acquisitions on Corporation Valuation./
Author:	Shi, Zhirou.
Description:	1 online resource (51 pages)
Notes:	Source: Masters Abstracts International, Volume: 57-06.
Subject:	Economics. -
Online resource:	click for full text (PQDT)
ISBN:	9780438020559

Effects of Mergers and Acquisitions on Corporation Valuation.
Shi, Zhirou.

Effects of Mergers and Acquisitions on Corporation Valuation. - 1 online resource (51 pages)

Source: Masters Abstracts International, Volume: 57-06.

Thesis (M.S.)--Tufts University, 2018.

Includes bibliographical references

The purpose of this paper is to examine the instantaneous wealth effect of mergers and acquisitions announcements on acquiring firm stockholders and bondholders. Based on a panel of 1,744 global M&A deals of 918 firms from 2016 to 2017 in the communication, technology, energy, and utility sectors, this paper finds a significant and positive hike in abnormal stock returns at the announcement month and no significant impact on bond returns. This jump in stock return is larger in the technology and communication sectors. Furthermore, there is no evidence showing that cross-border deals in the U.S can generate higher wealth. Third, this paper concludes that financial ratios have different impacts on abnormal stock returns in different industries. Finally, I find that M&A announcement increases individual bond Sharpe ratio at the announcement month.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780438020559Subjects--Topical Terms:

555568
Economics.
Index Terms--Genre/Form:

554714
Electronic books.

Effects of Mergers and Acquisitions on Corporation Valuation.
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035 $a AAI10812071
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100 1 $a Shi, Zhirou. $3 1189408
245 1 0 $a Effects of Mergers and Acquisitions on Corporation Valuation.
264 0 $c 2018
300 $a 1 online resource (51 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
338 $a online resource $b cr $2 rdacarrier
500 $a Source: Masters Abstracts International, Volume: 57-06.
500 $a Adviser: Marcelo Bianconi.
502 $a Thesis (M.S.)--Tufts University, 2018.
504 $a Includes bibliographical references
520 $a The purpose of this paper is to examine the instantaneous wealth effect of mergers and acquisitions announcements on acquiring firm stockholders and bondholders. Based on a panel of 1,744 global M&A deals of 918 firms from 2016 to 2017 in the communication, technology, energy, and utility sectors, this paper finds a significant and positive hike in abnormal stock returns at the announcement month and no significant impact on bond returns. This jump in stock return is larger in the technology and communication sectors. Furthermore, there is no evidence showing that cross-border deals in the U.S can generate higher wealth. Third, this paper concludes that financial ratios have different impacts on abnormal stock returns in different industries. Finally, I find that M&A announcement increases individual bond Sharpe ratio at the announcement month.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Economics. $3 555568
650 4 $a Finance. $3 559073
655 7 $a Electronic books. $2 local $3 554714
690 $a 0501
690 $a 0508
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a Tufts University. $b Economics. $3 1181051
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10812071 $z click for full text (PQDT)

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