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The short-term stock market reaction to cross-border M&As and the impact of the asset seeking motive: The case of Indian firms.

Shabo, Rabbi (2019) The short-term stock market reaction to cross-border M&As and the impact of the asset seeking motive: The case of Indian firms.

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Abstract:During the last decade the number and value of cross-border M&As by emerging market firms has increased. This thesis examines the stock market reaction to Indian cross-border M&A announcements and the impact of the strategic asset seeking motive on this stock market reaction using the event study methodology and OLS regression models. I find support for a positive stock market reaction, i.e., positive cumulative abnormal returns. A positive impact of the strategic asset seeking motive is only partly supported. There is support for the positive impact of the target being located in a developed country. However, there is no support for the positive impact of the bidder being active in the service sector. There is also no support for a positive association between the level of technology exports in the host country and cumulative abnormal returns.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/78836
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