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Corporate Restructuring Strategies Performance

Student: Moskalchuk Viacheslav

Supervisor: Ivan I. Rodionov

Faculty: Faculty of Economic Sciences

Educational Programme: Strategic Corporate Finance (Master)

Year of Graduation: 2018

In the life of each company, the necessity arise to change its structure in order to optimize some parameters: risks, interest payments, ownership model, cash flows and so on. There are enough ways to change the structure of the company and the applicability of each way depends on tactical aims and strategic purposes of the company. This paper is devoted to the review of previous studies about different strategies of switching from one firm structure to another and to the empirical research of financial efficiency between participating in M&A restructuring and non-participation in any restructuring. The final sample that was used in research consist of 382 companies from US, where 325 companies did not participate in M&A and 57 companies did. We use as data financial indicators of companies for 2013-2017 years, inclusive. We obtained that participating in M&A restructuring does not affect the financial efficiency in some notable way in comparison with nonparticipating in M&A restructuring.

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