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Mergers & Acquisitions and the Valua...

Wang, Yuan.

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Mergers & Acquisitions and the Valuation of Firms.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Mergers & Acquisitions and the Valuation of Firms./
Author:	Wang, Yuan.
Description:	95 p.
Notes:	Source: Masters Abstracts International, Volume: 53-06.
Contained By:	Masters Abstracts International53-06(E).
Subject:	Economics, General. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=1567129
ISBN:	9781321267228

Mergers & Acquisitions and the Valuation of Firms.
Wang, Yuan.

Mergers & Acquisitions and the Valuation of Firms. - 95 p.

Source: Masters Abstracts International, Volume: 53-06.

Thesis (M.S.)--Tufts University, 2014.

This item must not be sold to any third party vendors.

Mergers and acquisitions are among the most visible and important phenomena of modern economies worldwide. The great development of information and high technology pushed global M&A activities to hit highest level of the history in both aspects of total deal volume and signal deal value. Firms engaging in M&A pursue economic growth or positive value in every facet of the organization.

ISBN: 9781321267228Subjects--Topical Terms:

1017424
Economics, General.

Mergers & Acquisitions and the Valuation of Firms.
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020 $a 9781321267228
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100 1 $a Wang, Yuan. $3 1273603
245 1 0 $a Mergers & Acquisitions and the Valuation of Firms.
300 $a 95 p.
500 $a Source: Masters Abstracts International, Volume: 53-06.
500 $a Adviser: Marcelo Bianconi.
502 $a Thesis (M.S.)--Tufts University, 2014.
506 $a This item must not be sold to any third party vendors.
520 $a Mergers and acquisitions are among the most visible and important phenomena of modern economies worldwide. The great development of information and high technology pushed global M&A activities to hit highest level of the history in both aspects of total deal volume and signal deal value. Firms engaging in M&A pursue economic growth or positive value in every facet of the organization.
520 $a This work focuses on the trend of firm value with M&A activities. We use enterprise multiple, EV/EBITDA ratio, as measure of firm value and some other financial fundamental ratios as the controls, like price to sale ratio, debt to equity ratio, market to book ratio and financial leverage. We conduct empirical research using a large dataset of 65,000 M&A deals globally from Communication, Technology, Energy and Utility sectors between the years of 2000 to 2010. The econometric models applied to this work are fixed-effect panel regression, Arellano-Bond dynamic panel methodology and treatment effect analysis with propensity score matching, nearest neighborhood matching and regression adjustment. We present the significant contemporaneous effects of the financial fundamental ratios on enterprise multiple, and provide the evidences for long-term and instantaneous impact on firm values pre- and post- M&A activities. The magnitude and significance level of these effects vary cross different company sectors and over different time period.
590 $a School code: 0234.
650 4 $a Economics, General. $3 1017424
650 4 $a Economics, Commerce-Business. $3 626649
650 4 $a Business Administration, Management. $3 626628
690 $a 0501
690 $a 0505
690 $a 0454
710 2 $a Tufts University. $b Economics. $3 1022503
773 0 $t Masters Abstracts International $g 53-06(E).
790 $a 0234
791 $a M.S.
792 $a 2014
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=1567129