Comparative analysis of mergers and acquisitions in the new member states of European Union

Dušan Baran, Darius Saikevičius

Abstract


Mergers and acquisitions in the new member states of European Union (EU-10) are investigated in the study. The author concentrates on mergers and acquisitions value creation issue in the region. Event study methodology is employed to investigate the scientific problem of value generation as a consequence of analysed transactions. Findings of the study show that there is statistically significant positive effect observed when analysing value variations as a result of mergers and acquisitions taking place in the EU-10 region. However, there are great differences observed when different countries or groups of countries are analysed in EU-10. This finding supports the conclusions of previous researches in the field stating that value creation in mergers and acquisitions varies greatly in separate regions or countries. It was also found during the research that transactions taking place in the Baltic states have generated the highest value increase in EU-10 during the period of 2004–2013.

Keywords


Mergers and acquisitions; Value creation; Event study

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"Intellectual Economics" ISSN online 1822-8038 / ISSN print 1822-8011