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dc.contributor.authorAdolfsen, Christine Emilie
dc.contributor.authorJacobsen, Helene Schjøtt
dc.date.accessioned2021-10-27T13:58:14Z
dc.date.available2021-10-27T13:58:14Z
dc.date.issued2021
dc.identifier.urihttps://hdl.handle.net/11250/2826058
dc.descriptionMasteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2021en_US
dc.description.abstractWe conduct an event study of acquiring companies' cumulative abnormal returns as a reaction to merger and acquisition (M&A) announcement news. The study is conducted using three { and ve-day event windows for a sample of M&A deals in the Norwe- gian stock market. We study the e ect of the characteristics of the announcement on the wealth of the acquiring company's share- holders, by examining the variation of cumulative abnormal return related to di erent characteristics of the deal, target, and acquiring company. Our ndings suggest that, overall, the acquiring rm's shareholders earn a positive cumulative abnormal return over the de ned event windows. However, we show that several M&A char- acteristics (e.g., day of week, method of payment) hypothesized to impact pricing of deals, are not signi cant predictors of acquirer returns. We therefore question the traditional wisdom of whether these metrics should matter to managers when announcing M&As.en_US
dc.language.isoengen_US
dc.publisherHandelshøyskolen BIen_US
dc.subjectfinansen_US
dc.subjectfinanceen_US
dc.titleThe Impact of M&A Characteristics on the Acquiring Companies' Valueen_US
dc.typeMaster thesisen_US


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