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The relationship between M & A's during crisis periods and financial performance
Mid Sweden University, Faculty of Human Sciences, Department of Business, Economics and Law.
Mid Sweden University, Faculty of Human Sciences, Department of Business, Economics and Law.
2018 (English)Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The aim of this study is to examine whether a merger during a crisis period has a relationship with a company’s long-term financial performance. This research focuses especially on mergers and acquisitions that were finalized during the height of the crisis, meaning in the years 2008 and 2009, where after the financial performance of the companies was checked in a timeframe of five years, from 2010-2014. The performance of the companies was compared with the performance of a set of companies that did not engage in a merger in the same crisis period. The findings imply that companies that engage in mergers during crisis periods are not more profitable in the post-merger than companies that did not engage in mergers during crisis periods. These findings however show different results between the return on assets and the return on equity as measures of profitability.However, this research contains some limitations. It is not clear in what degree the companies were affected by the crisis individually. Next to that, the results could have been different if the merged firms were compared with a different peer group. Moreover, different variables could have been examined such as the pre-merger profitability. Therefore, it may be interesting to conduct further studies with different peer groups and variables or between different time periods on this topic.

Place, publisher, year, edition, pages
2018. , p. 49
Keywords [en]
Mergers and acquisitions, Financial performance, Profitability, Liquidity, Solvency, Financial crisis, Effective, Withdrawn
National Category
Business Administration
Identifiers
URN: urn:nbn:se:miun:diva-34460OAI: oai:DiVA.org:miun-34460DiVA, id: diva2:1249885
Subject / course
Business Administration FE1
Educational program
Master programme (one year) in Business Administration, Marketing and Management SFMMA 60 higher education credits
Supervisors
Examiners
Available from: 2018-09-20 Created: 2018-09-20 Last updated: 2018-09-20Bibliographically approved

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf