Determinants of Successful M&A Transactions for Stakeholders Acquirer

Student: Leonov Alexander

Supervisor: Ilya Partin

Educational Programme: Corporate Finance (Master)

Year of Graduation: 2018

The thesis examines the factors influencing the effectiveness of M&A transactions for the acquirer in the BRICS countries. Applying event study method standard event windows and additional windows with individual length for each unique transaction were used. The results show that M&A deals create value for companies' shareholders. Moreover, the study reveals that analysis of cumulative abnormal return on individual event windows is as effective as on standard event window (-20;20) on emerging markets.

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