M&A in the US Energy Sector from 2010-2011: Did M&A Prove Useful for Overall Equity Value? Público

Bamford, Robert M. (2017)

Permanent URL: https://etd.library.emory.edu/concern/etds/8k71nj02f?locale=pt-BR
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Abstract

This paper will investigate the effectiveness of mergers that occurred in the US energy sector between 2010 and 2011. The paper will look at what affects stock value of companies from the pre-announcement to the post-completion phases of mergers. The paper will find that fixed asset total is the most important factor when identifying firms' stock return over the two years studied. Merger-related variables fail to identify value-add generated by the occurrence of a merger. However, firms that engaged in mergers tended to succeed in the long-run. This is largely explained by an inherent difference in the type of firm that enters into an acquisition rather than something attributable directly to a merger.

Table of Contents

Table of Contents

I. Introduction (1)

II. Literature Review (4)

III. Method, Data & Variables (6)

IV. Results (9)

V. Conclusion (18)

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