| dc.description.abstract | This paper investigates whether certain quantitative macroeconomic factors are
drivers for takeover activity in Norway, and if so, what effects these variables
have on the number of takeovers. Three macroeconomic variables are studied:
domestic stock market performance, domestic short-term interest rate, and gross
domestic product. A multiple regression analysis is performed on quarterly data
from Norway in the period 2008-2019. The results of the regression suggest that
there exists a statistically significant positive relationship between the short-term
interest rate and takeover activity. However, no significant relationship is found
between M&A activity and the other regressors. A set of robustness regressions
are performed, one where quarterly data is altered to yearly data, several where
one or two independent variables are omitted, and two regressions where the data
is split into two subsamples based on the time period. The robustness tests
strengthen the results of the main regression.
Acknowledgments | en_US |
