Global Merger and Acquisition (M&A) activity: 1992-2011

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dc.citation.epage117en_US
dc.citation.spage110en_US
dc.citation.volumeNumber17en_US
dc.contributor.authorYılmaz, I. S.en_US
dc.contributor.authorTanyeri B.en_US
dc.date.accessioned2018-04-12T10:55:02Z
dc.date.available2018-04-12T10:55:02Z
dc.date.issued2016en_US
dc.departmentFaculty of Business Administrationen_US
dc.description.abstractIn our global sample of 263,461 deals in 47 countries, 3-day target cumulative abnormal returns (CARs) average 6.9% and bidder CARs average 1.4%. When we impose the common filters used in the literature which restrict the sample to completed acquisitions of public firms, target CARs increase from 6.9% to 13%. Our findings indicate that M&A activity (particularly in deals where control rights are sold) generates value. We also find that the magnitudes of bidder and target CARs in developed countries are higher than those in emerging-market countries.en_US
dc.description.provenanceMade available in DSpace on 2018-04-12T10:55:02Z (GMT). No. of bitstreams: 1 bilkent-research-paper.pdf: 179475 bytes, checksum: ea0bedeb05ac9ccfb983c327e155f0c2 (MD5) Previous issue date: 2016en
dc.identifier.doi10.1016/j.frl.2016.02.005en_US
dc.identifier.issn1544-6123
dc.identifier.urihttp://hdl.handle.net/11693/36836
dc.language.isoEnglishen_US
dc.publisherElsevier Ltden_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/j.frl.2016.02.005en_US
dc.source.titleFinance Research Lettersen_US
dc.subjectAcquisitionsen_US
dc.subjectEvent studyen_US
dc.subjectMergersen_US
dc.subjectPartial salesen_US
dc.titleGlobal Merger and Acquisition (M&A) activity: 1992-2011en_US
dc.typeArticleen_US

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