Publication: Management practises and M&A success
Management practises and M&A success
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Delis, M. D., Iosifidi, M., Kazakis, P., Ongena, S., & Tsionas, M. G. (2022). Management practises and M&A success. Journal of Banking and Finance, 134, 106355. https://doi.org/10.1016/j.jbankfin.2021.106355
Abstract
Abstract
Abstract
We study whether management practices determine merger and acquisition (M&A) success. We model management as an unobserved (latent) variable in a standard microeconomic model of the firm and derive firm-year management estimates. We validate these estimates against benchmark survey data on management practices and by using Monte Carlo simulation. We show that our measure is among the most important determinants of value creation in M&A deals, substantially increasing the predictive power of models that explain cumulative abnormal retu
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Creators (Authors)
- Delis, Manthos D
- Iosifidi, Maria
- Kazakis, Pantelis
- Tsionas, Mike G
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Citations
Delis, M. D., Iosifidi, M., Kazakis, P., Ongena, S., & Tsionas, M. G. (2022). Management practises and M&A success. Journal of Banking and Finance, 134, 106355. https://doi.org/10.1016/j.jbankfin.2021.106355
