An accounting comparison of the post-merger economic performance of Greek acquiring listed firms in domestic versus international M&amp;amp;As at Southeast Europe

Agorastos, Konstantinos; Pazarskis, Michail; Karagiorgos, Theofanis

doi:10.1504/ijtgm.2011.041765

Cited by 4 publications

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“…Notwithstanding, the process of internationalisation and the expansion of the European Union has fostered the whole activity in recent years: foreign direct investment by multinational companies has grown rapidly, international trade increase faster than the rate of growth of national economies, and supra-national institutions, such as the EU and the WTO, promoted ever more inter-linked economies over national governments, which evolve an international perspective of M&As and an increasingly competitive business environment (Agorastos et al, 2011).…”

Section: Introductionmentioning

confidence: 99%

Successful merger decisions in Greece: Facts or delusions?

Pazarskis¹,

Pantelidis²,

Alexandrakis³

et al. 2014

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Section: Introductionmentioning

confidence: 99%

Successful merger decisions in Greece: Facts or delusions?

Pazarskis¹,

Pantelidis²,

Alexandrakis³

et al. 2014

COC

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International mergers as a business expansion strategy by Greek companies: A case study of corporate performance analysis for board of directors

Kourtesi,

Chasiotou,

Konstantinidis

et al. 2024

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This research analyzes a specific international merger involving a Greek publicly traded company in the recent post-COVID-19 and post-sovereign debt crisis era in the Greek market. The primary research aim is to assess the corporate performance of a Greek company listed on the Athens Stock Exchange (ASE) after it underwent an international merger in 2019. The research involves an in-depth analysis of the company’s performance post-merger and calculates various financial ratios using accounting data from four years before and after the international merger. The research results revealed that the merger deal has led the examined Greek listed sample company to a better performance in profitability, but not in liquidity and leverage, thus signalizing some mixed results for the international merger transaction.

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Examining bank mergers and acquisitions in Greece before the outbreak of the sovereign debt crisis

Pazarskis¹,

Charalampidou²,

Pantelidis³

et al. 2014

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In this study Mergers and Acquisitions (M&As) and business performance of banks in Greece are examined through an accounting approach. Using accounting data (financial ratios), the post-merger performance of a sample of Greek banks, listed on the Athens Stock Exchange that executed at least one merger or acquisition in the four-year-period from 2004 to 2007, is investigated. For the purpose of the study, a set of nineteen ratios is employed, in order to measure banks’ operating performance and to compare pre- and post-merger performance for three, two and one year before and after the M&A. The results revealed that M&As had a positive impact on the post-merger performance of merger-involved firms, except of dividend policy, which had to be moderate and conservative, because of the global financial crisis. The results showed that the effect of M&As on sample’s business performance, is not direct, but it becomes obvious during the next two years. Last, the number of ratios, which are statistically and significantly changed, is bigger as the control interval widens and the common ratios have an identical variation.

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An accounting comparison of the post-merger economic performance of Greek acquiring listed firms in domestic versus international M&As at Southeast Europe

Cited by 4 publications

References 0 publications

Successful merger decisions in Greece: Facts or delusions?

Successful merger decisions in Greece: Facts or delusions?

International mergers as a business expansion strategy by Greek companies: A case study of corporate performance analysis for board of directors

Examining bank mergers and acquisitions in Greece before the outbreak of the sovereign debt crisis

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