Essays about: "Event study and Cumulative Abnormal Returns CAR"

Showing result 16 - 20 of 26 essays containing the words Event study and Cumulative Abnormal Returns CAR.

1. 16. Do Mergers and Acquisitions Create Value for Acquirers? Short- and Long-Term Event Study on the Pharmaceutical Industry of Europe

   University essay from Lunds universitet/Nationalekonomiska institutionen

   Author : Anton Lindström; Aleksi Kekkonen; [2018]
   Keywords : Event study; Buy- and hold abnormal return; Cumulative abnormal return; Pharmaceutical industry; Efficient market hypothesis; Business and Economics;

   Abstract : In this thesis, the short- and long-term event study methodology are applied in order to assess whether M&As, in the pharmaceutical industry, create any abnormal return for the acquirer. The majority of the previous research finds a negative abnormal return but the short-term event study seems to generate slightly positive abnormal returns outside the U. READ MORE

3. 17. Effect of M&A announcement on acquirer stock prices in the Pharmaceutical sector and the role of bid premium

   University essay from Uppsala universitet/Företagsekonomiska institutionen

   Author : Pulkesh Mishra; [2018]
   Keywords : Pharmaceutical sector; M A; bid premium; Cumulative abnormal returns CAR ;

   Abstract : A majority of previous studies reveal evidences of negative or no abnormal returns for the bidder/acquirer firm upon the announcement of a merger or acquisition (M&A). Additionally, these studies stress on the importance of ‘bid premium’ announced as a key factor influencing acquirer returns post M&A announcement. READ MORE

4. 18. Institutional Portfolios and M&A Returns

   University essay from Lunds universitet/Företagsekonomiska institutionen

   Author : Karl Ardby; Teodor Opasiak; [2017]
   Keywords : Portfolio exposure; institutional investors; short-term abnormal return; agency theory; M A wealth effects; incitements; Business and Economics;

   Abstract : Purpose: To examine how investors’ portfolio exposure in a concentrated ownership-structure affects abnormal returns for the bidding company in a merger and acquisition on the Swedish market Methodology: Quantitative research approach with an event study to explore cumulative abnormal return, multivariate regression analysis Theoretical Perspective: Agency theory, M&A wealth effects, empire building,managerial hubris, block-ownership, institutional ownership Empirical foundation: A sample of 338 acquisitions completed on the Swedish market between January 2001 and January 2015 Conclusion: This study can not with todays limited foreign portfolio data confirm that high portfolio exposure of an institutional investor does create higher CAR in the event of a M&A.. READ MORE

5. 19. The Role of Lockups in Venture Capital Backed IPOs : An empirical study on the London Stock Exchange from 2009 to 2012

   University essay from Umeå universitet/Företagsekonomi

   Author : Jimmy Sabel; Xinrong Wu; [2014]
   Keywords : Initial Public Offering IPO ; Venture capital VC ; Lockup agreement; London Stock Exchange LSE ; Event Study; Abnormal returns; Cumulative abnormal returns CAR ; Market efficiency; Trading Regulations;

   Abstract : There are plenty of things said about the financial industry, an always ongoing debate, to say the least. We have identified a complex situation with three dimensions: Initial public offerings, Venture capital, and Lockup agreements. IPOs are generally difficult to put a price on because the market is not united yet, which creates uncertainties. READ MORE

6. 20. Adding Value through Cross-Border M&A: Evidence from the Netherlands

   University essay from Lunds universitet/Företagsekonomiska institutionen

   Author : Abdullah Al Masud; Timon Den Hertog; [2014]
   Keywords : Cross-Border; Mergers and Acquisitions M A ; The Netherlands; Event Study; Cumulative Abnormal Returns CAR ; Determinants of Value Creation; Relative Deal Size; Legal Status of Target; Business and Economics;

   Abstract : Purpose: The aim of this thesis is to research corporate geographic diversification to determine if cross-border M&A involving Dutch acquirers and a selection of countries are value-enhancing for Dutch acquirers. Moreover we will aim to identify variables which influence value-creation in Dutch cross-border M&A. READ MORE