Revue d'économie et de statistique appliquée
Volume 18, Numéro 2, Pages 21-35
2021-12-28
Authors : Douifi Hamza . Ali Abdessamed Omar . Fares Fodil .
ABSTRACT: This paper examines the impact of mergers and acquisitions on maximizing the company's market value. The study concluded that there was a mutual causality running in one direction; from mergers and acquisitions to the market value of the traded shares used in the study to measure the company's market value. The study also showed that there was a high correlation between the two variables of the study yielding a correlation coefficient of 65%. Furthermore, the dynamic VAR analysis revealed that the response of the market value of shares to M&A shocks had positive effects over the response period. As far as the variance decomposition results are concerned, they showed that M&A had a positive effect of more than 67% on the market value of shares, especially in the medium term. Keywords : Merger and Acquisition, company value, , Vector Autoregression (VAR).
Merger and Acquisition, company value, , Vector Autoregression (VAR).
بوسالم أحلام
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عابد يوسف
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ص 117-132.
Yahia Zeghoudi
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pages 74-88.
ضيف روفية
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بوعروج لمياء
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كورتل نجاة
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ص 189-208.