Furlan, Benjamin and Oberhofer, Harald and Winner, Hannes. 2016. A Note on Merger and Acquisition Evaluation. Industrial and Corporate Change (ICC) 25 (3): S. 447-455.


BibTeX

@ARTICLE{Furlan2016,
title = {A Note on Merger and Acquisition Evaluation},
author = {Benjamin Furlan and Harald Oberhofer and Hannes Winner},
year = {2016},
doi = {http://dx.doi.org/10.1093/icc/dtv033},
volume = {25},
number = {3},
language = {EN},
pages = {447-455},
journal = {Industrial and Corporate Change (ICC)},
abstract = {This note proposes the continuous treatment approach as a valuable alternative to propensity score matching for evaluating economic effects of merger and acquisitions (M&As). This framework allows considering the variation in treatment intensities explicitly, and it does not call for an arbitrary definition of cutoff values in traded ownership shares to construct a binary treatment indicator. We demonstrate the usefulness of this approach using data from European M&As and by relying on the example of post-M&A employment effects. The empirical exercise reveals some heterogeneities over the whole distribution of acquired ownership shares and across different types of M&As and country groups. },
}

Abstract

This note proposes the continuous treatment approach as a valuable alternative to propensity score matching for evaluating economic effects of merger and acquisitions (M&As). This framework allows considering the variation in treatment intensities explicitly, and it does not call for an arbitrary definition of cutoff values in traded ownership shares to construct a binary treatment indicator. We demonstrate the usefulness of this approach using data from European M&As and by relying on the example of post-M&A employment effects. The empirical exercise reveals some heterogeneities over the whole distribution of acquired ownership shares and across different types of M&As and country groups.

Publication's profile

Status of publication Published
Affiliation WU
Type of publication Journal article
Journal Industrial and Corporate Change (ICC)
Citation Index SSCI
WU-Journal-Rating new FIN-A, MAN-A, STRAT-B, VW-C, WH-B
Language English
Title A Note on Merger and Acquisition Evaluation
Volume 25
Number 3
Year 2016
Page from 447
Page to 455
Reviewed? Y
DOI http://dx.doi.org/10.1093/icc/dtv033

Associations

People
Oberhofer, Harald (Details)
External
Furlan, Benjamin (Universit├Ąt Salzburg, Austria)
Winner, Hannes (Universit├Ąt Salzburg, Austria)
Organization
International Economics IN (Details)
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