文章基本信息

标题：M&AS, ECONOMIC PERFORMANCE AND INTERNATIONAL ORIENTATION OF THE GREEK ACQUIRING LISTED FIRMS AT A LONG-RUN PERSPECTIVE
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作者：Dr. Michail Pazarskis ; Nicos Sykianakis ; Dr. Ioannis Sotiropoulos 等
期刊名称：International Journal of Economics and Research
电子版ISSN：2229-6158
出版年度：2013
卷号：4
期号：1
页码：20-30
出版社：Sanben Agency
摘要：This paper examines empirically the impact of M&As on the post-merger economic performance of Greek merger-involved firms at a long-run perspective and in accordance to their international orientation (domestic or international M&As). Τhe post-merger economic performance of an extensive sample of Greek acquiring listed firms is investigated with accounting data analysis. For the purpose of the study, two profitability ratios (ROA, ROE) are employed, in order to measure firms’ post-merger economic performance. The received results revealed that there is no significant change of any examined variable in the post-merger performance at the sample firms. Furthermore, concerning firms’ international orientation, the ratio results are combined with their decision for an international M&As or not. From this point of view, the research revealed that there is no difference from the international orientation (domestic or international M&As) for the acquiring firms of the research sample at none of the two examined accounting ratio.
关键词：mergers; acquisitions; financial ratios; post-merger economic performance; international M&As; accounting data; Greece