The Measurement of Post Deal Performance. An Empirical Analysis of European M&A Transactions

Inhaltsverzeichnis (Table of Contents)

• Introduction
• Literature Review
  • Accounting Measures
    • Ratios
    • Growth measures
    • Operating Cash Flows
  • Abnormal Returns
  • Other Measures
  • Measure Comparison
• Empirical Analysis: European M&A Transactions
  • Research Design
    • Sample
    • Model
    • Variables
  • Results
• Discussion

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This thesis aims to investigate the effectiveness of various accounting and market-based measures in gauging the post-deal performance of European M&A transactions. The study seeks to empirically assess the relationship between these measures and the long-term financial performance of acquiring companies.

• Measuring post-deal performance in M&A transactions
• Evaluating the effectiveness of accounting and market-based measures
• Analyzing the relationship between performance measures and long-term financial performance
• Examining the applicability of these measures to European M&A transactions
• Contributing to the understanding of M&A performance measurement in a global context

Zusammenfassung der Kapitel (Chapter Summaries)

The thesis begins with an introduction that provides background information on M&A transactions and the importance of post-deal performance evaluation. This is followed by a comprehensive literature review, which explores various accounting and market-based measures used to assess post-deal performance. The chapter also discusses the methodologies and limitations of previous studies. The empirical analysis chapter delves into the research design, outlining the sample selection, model specifications, and variables used in the study. The results section presents the findings of the empirical analysis, highlighting the relationships between different performance measures and long-term financial outcomes. The discussion chapter interprets the results in the context of previous research and examines their implications for M&A practitioners and researchers.

Schlüsselwörter (Keywords)

This study focuses on key terms related to mergers and acquisitions, post-deal performance measurement, accounting measures, market-based measures, empirical analysis, and European M&A transactions. The research explores concepts like return on assets, return on sales, profit growth, asset growth, sales growth, operating cash flow returns, abnormal returns, and cumulative abnormal returns, employing statistical techniques to analyze their relationship with long-term financial performance.