Determinants of Premium in M&A Deals in IT Industry

Student: Gevorkyan Artur

Educational Programme: Corporate Finance (Master)

Year of Graduation: 2018

The size of premiums in M & A transactions in the information technology industry from 2000 to 2018 was analyzed in this paper. The study shows the influence of classical factors on the premium in the information technology industry. The following determinants were identified: the size of the company - target , the ratio of the market value of equity to the book value of the company - target, cross-border transaction. Also, the relationship between the size of the premium and past performance of the company's share price was analyzed with the help of the Tobin's Q index . The results suggest that the premium is reduced by 1.03% for each single increase in the Tobin's Q index.

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