The Influence of Investor's Right Protection on Effectiveness of M&A Deals in Pharmaceutical Industry

Student: Trubilova Yulia

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2018

There is a significant amount of researches that investigate for effectivenes of M&A deals in different industries. These papers use different approaches such as Abnormal return approach and Profitability approach, and look for different variables that may affect the efficiency. However, none of them looks at such parameter as Level of investor protection in country and it’s Impact on result of takeover. In this paper I will run an analysis of different indices of investor protection in country on effectiveness of M&A deals in Pharmaceutical Industry, including other mean parameters. There will be used both Profitability and event study methods to analyze whether there is a significant evidence of variables in my research.

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