Determinants of value creation through mergers and acquisitions in the MENA region

IF 0.8 Q4 MANAGEMENT

International Journal of Business Performance Management Pub Date : 2021-07-16 DOI:10.1504/ijbpm.2021.10039427

M. Ibrahimi, M. Amine, Abdellatif Taghzouti

引用次数: 0

Abstract

Using a sample of 610 operations over 15 years, our article aims to analyse value creation in mergers and acquisitions and its determinants in the MENA region, using event study method and multiple regression. Our results indicate that overall, mergers and acquisitions create more value for targets than they do for acquirers. In domestic deals, it is the acquirers who benefit the most, while in cross-border deals, it is the targets who profit the most. This value creation is impacted positively by mergers and negatively by acquisitions and by industry relatedness. Geographic scope, payment method, mergers and acquisition experience and target status have no effect on value creation.

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中东和北非地区通过并购创造价值的决定因素

本文以15年来610家企业为样本，采用事件研究方法和多元回归分析了中东和北非地区并购中的价值创造及其决定因素。我们的研究结果表明，总体而言，并购为目标创造的价值大于为收购方创造的价值。在国内交易中，收购方受益最大，而在跨境交易中，目标方利润最大。这种价值创造受到合并的积极影响，而受到收购和行业相关性的消极影响。地理范围、支付方式、并购经历和目标地位对价值创造没有影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Business Performance Management MANAGEMENT-

CiteScore

1.90

自引率

10.00%

发文量

期刊介绍： The most distinctive characteristic of a high performance organisation is a strong commitment to explore innovative thinking as a means of delivering a breakthrough in performance. IJBPM aims to examine both hard and soft perspectives in managing business performance, in both public and corporate organisations. Topics covered include: -Business strategy and business process re-engineering Corporate culture- Education and training, organisational learning- Ethical and environmental issues- Intellectual assets management- Innovation and knowledge management- Internet/intranet- Operations strategy- Outsourcing and strategic alliances- Modelling techniques- Performance benchmarking and measurement- Productivity and quality- Public sector management- Technological change and impact- Virtual team working.