• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site
For visually-impairedUser profile (HSE staff only)Search

Mergers and Acquisitions: investment banker’s behavior and profitability of the deals

Student: Mikhail Titkov

Supervisor: Anastasia N. Stepanova

Faculty: International College of Economics and Finance

Educational Programme: Bachelor

Final Grade: 7

Year of Graduation: 2014

<p>The aim of that research is to prove the need for a law regulating investment banker&rsquo;s bonus compensation. <span title="Для этого проверялось наличие оппортунизма в поведении сотрудников финансовых институтов.">That work checks the availability of opportunism in the behavior of employees of financial institutions. </span><span title="Далее, определялась зависимость бонусных выплат от различных показателей сделок слияния и поглощения, а так же от риска в поведении банкиров (модель Тобит).">Next, research determines the relation of bonus payments to the various indicators of mergers and acquisitions, as well as methods of risk behavior of bankers (Tobit model). </span><span title="Далее, рассматривалось влияние отчислений банкам на результаты сделок с помощью премий, выплачиваемых компаниям - целям (Модель TSLS).">Further, work examines the effect of banks compensation and the results of transactions using premiums paid to target - companies (Model TSLS). Moreover, c</span><span title="При этом большое внимание было уделено &quot;намеренной&quot; переоценки компаний, что повышает компенсации за работу инвестиционных банков.">lose attention was paid to the &quot;intentional&quot; overvaluation companies, which increases compensation for investment banking. </span><span title="Результат показал, что введение закона должно уменьшить количество рискованных сделок и увеличить стабильность индустрий.">The result showed that the introduction of the law should reduce the number of risky deals and increase stability of industries.</span></p>

Full text (added June 16, 2014) (1.01 Kb)

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses