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The impact of ESG of the target firm on the offer price of mergers and acquisitions (M&A)
Regenwetter, Loris (2024) The impact of ESG of the target firm on the offer price of mergers and acquisitions (M&A).
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| Abstract: | This paper investigates the impact of ESG of the target firm on the offer price in mergers and acquisitions deals across the United States, Canada, and Europe. Through linear regression, the relationship between the ESG scores and the offer price is determined. Contrary to expectations, the findings indicate that higher ESG scores of target firms do not cause higher offer prices. This challenges the current assumption that better ESG performance leads to higher firm value in Mergers & Acquisitions. The findings suggest that sustainability may not directly influence the value of an M&A offer, even though ESG is growing in importance when it comes to investment decisions. |
| Item Type: | Essay (Bachelor) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 83 economics |
| Programme: | International Business Administration BSc (50952) |
| Link to this item: | https://purl.utwente.nl/essays/100133 |
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