Personalintensitetens påverkan på företagsprestation efter förvärv
(2014) FEKH89 20141Department of Business Administration
- Abstract
- Purpose: Study if and how personnel-intensity affects companies' post acquisition stock performance
Methodology: Quantitative study of 90 american companies that in 2007 made acquisition deals worth over $100 MUSD. An event window of five days was used, and comparisons between industries were done to find correlation between personnel-intensity and performance.
Theoretical Perspectives: Based on previous research and theories, from different perspectives like organization, strategy, and economics and finance. Summary of studies and definitions and concepts.
Empirical Foundation: Quantitative data of 90 public, american companies, collected using Thomson Reuters Eikon for statistical analysis in SPSS.
Conclusions: Acquisitions of... (More) - Purpose: Study if and how personnel-intensity affects companies' post acquisition stock performance
Methodology: Quantitative study of 90 american companies that in 2007 made acquisition deals worth over $100 MUSD. An event window of five days was used, and comparisons between industries were done to find correlation between personnel-intensity and performance.
Theoretical Perspectives: Based on previous research and theories, from different perspectives like organization, strategy, and economics and finance. Summary of studies and definitions and concepts.
Empirical Foundation: Quantitative data of 90 public, american companies, collected using Thomson Reuters Eikon for statistical analysis in SPSS.
Conclusions: Acquisitions of manufacturing companies had a larger probability of a positive CAR, while acquisitions of service companies had a larger probability of a negative CAR. 60,6 % of all acquisitions between manufacturing companies, and all acquisitions where service companies acquired manufacturing companies, lead to a positive cumulative abnormal return. Acquisitions of service companies, on the other hand, tend to have a negative effect on the stock prices, as it fell in 68,1 % of cases of acquisitions between service companies, and 42,9 % of acquisitions where manufacturing companies acquired service companies.
Target companies' industry proved to have an effect on CAR, as 35,2 % of acquisitions of service companies resulted in positive CAR. For acquisition of manufacturing companies, this number was 63,9 %. These results are all statistically significant on the level 5 %. Nothing statistically significant could be determined in regard to the acquiring companies' industry.
Last, a multiple linear regression was conducted, but without any significant results. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/4689616
- author
- Hansson, Joel LU ; Kratz, Sofia LU and Krämbring, Sebastian LU
- supervisor
- organization
- course
- FEKH89 20141
- year
- 2014
- type
- M2 - Bachelor Degree
- subject
- keywords
- Event study, personnel-intensity, acquisitions, abnormal return, integration
- language
- Swedish
- id
- 4689616
- date added to LUP
- 2014-10-14 10:18:03
- date last changed
- 2014-10-14 10:18:03
@misc{4689616, abstract = {{Purpose: Study if and how personnel-intensity affects companies' post acquisition stock performance Methodology: Quantitative study of 90 american companies that in 2007 made acquisition deals worth over $100 MUSD. An event window of five days was used, and comparisons between industries were done to find correlation between personnel-intensity and performance. Theoretical Perspectives: Based on previous research and theories, from different perspectives like organization, strategy, and economics and finance. Summary of studies and definitions and concepts. Empirical Foundation: Quantitative data of 90 public, american companies, collected using Thomson Reuters Eikon for statistical analysis in SPSS. Conclusions: Acquisitions of manufacturing companies had a larger probability of a positive CAR, while acquisitions of service companies had a larger probability of a negative CAR. 60,6 % of all acquisitions between manufacturing companies, and all acquisitions where service companies acquired manufacturing companies, lead to a positive cumulative abnormal return. Acquisitions of service companies, on the other hand, tend to have a negative effect on the stock prices, as it fell in 68,1 % of cases of acquisitions between service companies, and 42,9 % of acquisitions where manufacturing companies acquired service companies. Target companies' industry proved to have an effect on CAR, as 35,2 % of acquisitions of service companies resulted in positive CAR. For acquisition of manufacturing companies, this number was 63,9 %. These results are all statistically significant on the level 5 %. Nothing statistically significant could be determined in regard to the acquiring companies' industry. Last, a multiple linear regression was conducted, but without any significant results.}}, author = {{Hansson, Joel and Kratz, Sofia and Krämbring, Sebastian}}, language = {{swe}}, note = {{Student Paper}}, title = {{Personalintensitetens påverkan på företagsprestation efter förvärv}}, year = {{2014}}, }