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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Gleb Vyguzov
Determinants of M&A Efficiency in Developing Capital Markets
Strategic Corporate Finance
(Master’s programme)
7
2016
This paper issues the problem of main determinants of transnational M&A deals performance on ASEAN markets. It analyzes the influence of culture and institutional development distance between countries, in which acquirer and target are represented. In addition, author uses index, which determines, whether acquirer and target are in one economic sector or not. For efficiency estimation market approach (Standardized CAR, which takes into account usual volatility of acquirer price) was used. The novelty of this paper can be described as the usage of unusual determinants and efficiency measure applied to ASEAN markets. During the research process literature review was conducted. Also regression model was built and then interpreted. Cross-section analysis indicates, that institutional and cultural differences as well as being at the same industry exert significant impact on acquirer abnormal returns

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