Financial Flexibility, Bidder’s M&A Performance, and the Cross-Border Effect
Independent thesis Advanced level (degree of Master (One Year)), 20 HE creditsStudent thesis
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.
financial flexibility, mergers and acquisitions (M&As), cross-border effect, financial crisis
IdentifiersURN: urn:nbn:se:uu:diva-277274OAI: oai:DiVA.org:uu-277274DiVA: diva2:904375
Master Programme in Business and Management