Acquisition type and ESG performance
(2025) FEKH89 20242Department of Business Administration
- Abstract
- Research question: Is there a differential impact of same-industry versus cross-industry acquisitions on ESG performance?
Purpose: The purpose of this study is to examine whether cross industry acquisitions and same industry acquisitions have a differential impact on ESG scores.
Methodology: Panel Data Clustered Multiple Regression with a sample of 554 observations from 94 firms across 12 different industries for the sample period of 2014 to 2019. The data was collected from Bloomberg’s and Refinitv Eikon’s databases.
Theoretical perspectives: The study is based on a theoretical framework that consists of R. Edward Freeman's Stakeholder theory and previous empirical literature on the link between ESG and M&A.
Result: The... (More) - Research question: Is there a differential impact of same-industry versus cross-industry acquisitions on ESG performance?
Purpose: The purpose of this study is to examine whether cross industry acquisitions and same industry acquisitions have a differential impact on ESG scores.
Methodology: Panel Data Clustered Multiple Regression with a sample of 554 observations from 94 firms across 12 different industries for the sample period of 2014 to 2019. The data was collected from Bloomberg’s and Refinitv Eikon’s databases.
Theoretical perspectives: The study is based on a theoretical framework that consists of R. Edward Freeman's Stakeholder theory and previous empirical literature on the link between ESG and M&A.
Result: The results show that there is no statistically significant correlation between the cross industry intensity variable and ESG scores. However, the results show a statistically significant correlation between acquisition intensity and ESG performance.
Conclusions: There does not appear to be a significant relationship between the type of acquisition a company makes and its ESG performance. However, the study is consistent with previous research that higher acquisition activity is associated with higher ESG performance. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9182819
- author
- Ledunger, Martin LU ; Izadi, Amir and Hede Mortensen, Fabian
- supervisor
- organization
- alternative title
- An empirical study exploring the effects of same- and cross-industry acquisitions on ESG performance.
- course
- FEKH89 20242
- year
- 2025
- type
- M2 - Bachelor Degree
- subject
- keywords
- ESG, Mergers and Acquisitions (M&A), Cross-industry acquisitions, Same-industry acquisitions, Stakeholder Theory
- language
- English
- id
- 9182819
- date added to LUP
- 2025-03-23 11:59:34
- date last changed
- 2025-03-23 11:59:34
@misc{9182819,
abstract = {{Research question: Is there a differential impact of same-industry versus cross-industry acquisitions on ESG performance?
Purpose: The purpose of this study is to examine whether cross industry acquisitions and same industry acquisitions have a differential impact on ESG scores.
Methodology: Panel Data Clustered Multiple Regression with a sample of 554 observations from 94 firms across 12 different industries for the sample period of 2014 to 2019. The data was collected from Bloomberg’s and Refinitv Eikon’s databases.
Theoretical perspectives: The study is based on a theoretical framework that consists of R. Edward Freeman's Stakeholder theory and previous empirical literature on the link between ESG and M&A.
Result: The results show that there is no statistically significant correlation between the cross industry intensity variable and ESG scores. However, the results show a statistically significant correlation between acquisition intensity and ESG performance.
Conclusions: There does not appear to be a significant relationship between the type of acquisition a company makes and its ESG performance. However, the study is consistent with previous research that higher acquisition activity is associated with higher ESG performance.}},
author = {{Ledunger, Martin and Izadi, Amir and Hede Mortensen, Fabian}},
language = {{eng}},
note = {{Student Paper}},
title = {{Acquisition type and ESG performance}},
year = {{2025}},
}