Merger and Acquisition Waves and Firm Performance of High-tech Firms in the US Market

Student: Kovaleva Elizaveta

Educational Programme: Economics (Bachelor)

Final Grade: 7

Year of Graduation: 2019

The purpose of this paper is to investigate correlation between merger and acquisition waves and firm performance of high-tech firms in the US market. Research is based on event study method by which the performance of merger and acquisition deals is estimated via cumulated abnormal returns (CAR). 4 715 deals were analyzed to determine M&A cycles in the US high-tech market, as well as conduct event study in order to test hypothesis. The aim of this article is to find not only quantitative, but also qualitative facts about high-tech companies and their deals on M&A market, which will be a basis for the further analysis of different high-tech firms’ characteristics, e.g. motives of high-tech firms to enter M&A market, specific facts about competition in these industries.

Full text (added May 7, 2019)

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