Determinants of Companies’ Financial Performance Following M&A Transactions in Poland
Determinants of Companies’ Financial Performance Following M&A Transactions in Poland
Author(s): Marcin OcieszakSubject(s): Business Economy / Management, Financial Markets
Published by: Akademia Leona Koźmińskiego
Keywords: mergers; acquisitions; M&A; operationg performance
Summary/Abstract: Purpose: This study identifies and analyzes the factors that impact the financial performance of companies after a merger and acquisition transaction. Methodology: As many as 130 Polish market observations were analyzed with an OLS regression model to verify the research hypotheses. Results: The results reveal that the company’s size, performance before the transaction, and its international nature translated into improvement of post-transaction financial performance. Moreover, industry diversification transactions and CEO changes in acquiring a company had a negative impact on the company’s financial performance after the transaction. Originality: This investigation is the first study devoted to the Polish market in the research field of M&A determinants with the use of such a large sample.
Journal: Central European Management Journal
- Issue Year: 28/2020
- Issue No: 4
- Page Range: 51-66
- Page Count: 16
- Language: English