• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site

Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Anna Tevosova
Performance of M&A Deals of High-tech and Low-tech Companies in Emerging Capital Markets
Economics
(Bachelor’s programme)
2017
Nowadays, high technology is the driving force of economic development. The technological progress has led to the growth of high-tech transactions initiated by companies from rapidly developing countries. However, the question of their performance remains open. Thus, the purpose of this study is to assess the effectiveness of high and low-tech M & A transactions for companies-buyers from developing countries. Based on the empirical analysis of 390 high-tech and 259 low-tech transactions initiated by companies from the EAGLEs countries in the period from 2010 to 2016, a comparative analysis of the efficiency of high-tech and low-tech transactions was conducted. The main conclusion of this paper is that high-tech M & A transactions initiated by companies from developing countries create higher accumulated excess returns for the company-buyer’s shareholders compared to the low-tech ones.

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