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Communication dans un congrès
Value creation in M&As: does acquirer’s reputation matter?
Abstract : This article investigates the effects of reputation on the value created by mergers and acquisitions (M&As). Building on the resource-based view, we study the impact of the acquirer’s reputation on financial market reactions to M&A announcements. The empirical study is based on a sample of 187 M&As involving French multinationals of the CAC 40 index. The statistical analysis shows that reputation has a significant, positive influence on M&A value-creation. Our study contributes to the academic literature analyzing the role of intangible assets in firm performance. It also contributes to the M&A literature by highlighting the positive impact of reputation on the financial evaluation of M&A operations.
https://hal-univ-lyon3.archives-ouvertes.fr/hal-01242630
Contributeur : Ulrike Mayrhofer <>
Soumis le : dimanche 13 décembre 2015 - 15:17:20
Dernière modification le : vendredi 24 juillet 2020 - 12:20:03
Contributeur : Ulrike Mayrhofer <>
Soumis le : dimanche 13 décembre 2015 - 15:17:20
Dernière modification le : vendredi 24 juillet 2020 - 12:20:03