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Financial Flexibility, Bidder’s M&A Performance, and the Cross-Border Effect
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Business Studies. University of Groningen .
2016 (English)Independent thesis Advanced level (degree of Master (One Year)), 20 HE creditsStudent thesis
Abstract [en]

This study investigates the effect of the value of financial flexibility on bidder’s merger and acquisition (M&A) performance, including the differences between domestic and cross-border M&As and the effect of the financial crisis. Using data gathered between 2005-2012 of 3,882 M&As with the bidder from developed Europe or the U.S., OLS regressions are used to predict the effect of value of financial flexibility on the bidder’s cumulative abnormal returns (CARs). Findings reveal partial evidence to support a positive effect of the value of financial flexibility and the cross-border effect on bidder’s M&A performance. Collectively, these findings increase understanding of the interdependence of financial flexibility and investments.

Place, publisher, year, edition, pages
2016. , 44 p.
Keyword [en]
financial flexibility, mergers and acquisitions (M&As), cross-border effect, financial crisis
National Category
Business Administration
URN: urn:nbn:se:uu:diva-277274OAI: oai:DiVA.org:uu-277274DiVA: diva2:904375
Educational program
Master Programme in Business and Management
Available from: 2016-02-29 Created: 2016-02-18 Last updated: 2016-02-29Bibliographically approved

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Thesis M. Lameijer(898 kB)134 downloads
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