How M&amp;A Deals Influence Corporate Performance in Developed and Emerging Capital Markets: A Review of Empirical Results in the Literature

Grigorieva, Svetlana

doi:10.1007/978-3-030-23850-6_2

Cited by 5 publications

(3 citation statements)

References 109 publications

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“…Consequently, the methodology followed determines the prestige of his final achievement that he demonstrates methodology (Chatterjee & Meeks, 1996;Pazarskis et al, 2014). Based on these assumptions, we can say that over time, various methodologies have been developed to capture the profitability of merger activities, through merger studies that periodically examine a sample of companies, whether or not there was a profit for the shareholders of the parties involved in merger (Bruner, 2002;Meglio & Risberg, 2011;Golubov et al, 2013;Grigorieva, 2020). Depending on the size of the sample of companies to be examined, the applied methodologies are divided into case studies and large sample studies that aim to draw a new or more general conclusion about the current business situation.…”

Section: Literature Reviewmentioning

confidence: 99%

“…From these, the first two rely more on the objective observation and examination of real data and elements, while the third relies more on the acceptance and examination of the subjective perception of managers' human characters. Finally, all of the above could also be combined (Mueller, 1980;Kumar, 1984;Healy et al, 1992;Golubov et al, 2013;Grigorieva, 2020). Next, these three methods are described in details:…”

Section: Literature Reviewmentioning

confidence: 99%

“…Mergers and acquisitions are undoubtedly one of the most important ways for corporate restructuring worldwide (Hoshino, 1982;Healy et al, 1992;Golubov et al, 2013;Berrioategortua et al, 2018;Grigorieva, 2020;Rodionov & Mikhalchuk, 2020). They are a common occurrence in several industries, geographical areas and time periods, while in some other cases they occur with less frequency and intensity (Mueller, 1980;Jensen & Ruback, 1983;Ramaswamy & Waegelein, 2003;Martynova & Renneboog, 2008;Harrison, 2005).…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Merger Decisions, Accounting Information and Performance Stability Inside and Outside of Economic Crisis Periods: Evidence From Greece

Pazarskis

Giovanis

Koutoupis

et al. 2022

Journal of Business Economics and Management

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This study examines the merger decisions from a sample of Greek listed companies in the economic crisis period and shortly after its end, by employing various quantitative and qualitative variables of mergers that signalize different levels of risk. The results revealed that the performance subsequent of mergers is not significantly different for the merged companies. But in comparison to control sample of companies without mergers for the examined period, the results reveal that merger transactions signalize a more stable profitability and better performance for the companies with mergers. Furthermore, merger events signalize different performance levels during and after the crisis: mergers that took place when there was no economic crisis are far more profitable and lead to better performance from mergers during the period of economic crisis. Last, regarding the industry relatedness of the merged firms, the industry type and the merger combination of merged companies, there is not any impact from them on the post-merger performance in the examined accounting measures. The study proposes for companies that during crisis periods maybe merger be the only way to survive and provide a stable profitability and accounting performance for shareholders.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Merger Decisions, Accounting Information and Performance Stability Inside and Outside of Economic Crisis Periods: Evidence From Greece

Pazarskis

Giovanis

Koutoupis

et al. 2022

Journal of Business Economics and Management

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Morphology of mergers and their impact on performance and accounting metrics in HEIs: evidence from a small European country

Giovanis,

Chasiotou

2024

Studies in Higher Education

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Mergers as a competitiveness strategy in different business sectors during economic crisis period: Evidence from Greece

Pazarskis

Gkatziou

Konstantinidis

et al. 2022

CBSR

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This paper investigates the accounting performance of companies listed on the Athens Stock Exchange after mergers by the industrial sector during the period of the financial crisis in Greece. More specifically, all mergers of listed companies during the period 2012–2016 are examined, with the analysis of a final sample of twenty-six companies listed on the Athens Stock Exchange. The evaluation of the accounting statements and the performance of Greek listed companies is done by extracting and comparing various figures from them (financial ratios) before and after the implementation of mergers. This research is based on the methodology of Healy, Palepu, and Ruback (1992) and Ramaswamy and Waegelein (2003) in order to explore if there is a positive or negative result from the merger transaction. The research results did not show any statistically significant change in any of the research financial ratios after the mergers. However, the effect of the absorbing company’s industry was examined in relation to the analyzed financial ratios and no better performance was observed for those in any industry. Finally, mergers as a competitiveness strategy in the business arena managed to provide the involved companies with a stable accounting performance during the crisis period in Greece.

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How M&A Deals Influence Corporate Performance in Developed and Emerging Capital Markets: A Review of Empirical Results in the Literature

Cited by 5 publications

References 109 publications

Merger Decisions, Accounting Information and Performance Stability Inside and Outside of Economic Crisis Periods: Evidence From Greece

Merger Decisions, Accounting Information and Performance Stability Inside and Outside of Economic Crisis Periods: Evidence From Greece

Morphology of mergers and their impact on performance and accounting metrics in HEIs: evidence from a small European country

Mergers as a competitiveness strategy in different business sectors during economic crisis period: Evidence from Greece

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