• 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
Ilya Sobolev
The Study of M&A Market without Government Regulation
Finance
(Master’s programme)
2019
In this research, the author sets up a goal to find how the market of M&A can affect some of the macroeconomic parameters. There are two hypotheses which have been tested. The first hypothesis is that inflation can be partially explained by M&A waves or the number of M&A deals. The second hypothesis is that the increasing number of M&A deals affects negatively the number of firms. The analysis of those hypotheses was done with VAR and ARMAX models respectively. The results suggest that we cannot reject the null hypothesis that states that the effect of M&A deals or waves on CPI (consumer price index, inflation) equals zero. However, there is strong evidence of the negative effect: the changes in M&A deals influence the changes of medium-sized firms. Also, one of the findings of this research is that the proportion of employees who work in the large-sized firms, and proportion of the large-sized firms of total values is increasing and according to ARMA modeling will continue to increase.

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