Merger and acquisition master thesis

Merger and acquisition master thesis

Mergers and acquisitions are one of the most famous inorganic investment strategies used to grow and expand business operations across the globe. In Zambia, mergers and acquisitions transactions keep increasing at a slow rate from the first wave in the s (figure Estimated Reading Time: 29 mins Master Thesis Finance – A.A. Voesenek – The effects of mergers and acquisitions on firm performance 7 () and measures the effect on firm performance by the change in profits (EBIT). These two approaches are applied for different country groups in a non-crisis and a crisis period thesis scrutinizes the role of financial and managerial motives under which organizations decide to proceed to mergers and acquisitions and illustrates how theory is applied to the real case study of the merger between Kraft and Heinz. This study is motivated by two researchAuthor: User

(PDF) THESIS -MERGERS AND ACQUISITIONS FINAL TEXT | Kennedy Jr. - blogger.com

edu no longer supports Internet Explorer. To browse Academia. edu and the wider internet faster and more securely, please take a few seconds to upgrade your browser. Log In with Facebook Log In with Google Sign Up with Apple. Remember me on this computer. Enter the email address you signed up with and we'll email you a reset link. Need an account? Click here to sign up. Download Free PDF. Kennedy Jr. Download PDF Download Full PDF Package This paper. A short summary of this paper.

The Dissertation Submitted to The Zambia Catholic University in Partial Fulfilment of the Requirements of the Degree of the Bachelor of Business Administration and Finance.

It is submitted in partial fulfilment of the requirements for the degree of bachelors of business administration at the Zambia catholic university, Kalulushi. It has not been submitted before has any degree or any other academic paper in any other university. I further declare that I have obtained the necessary authorization and consent to carry out this research.

Authors Signature :……………………………………………………. Date :……………………………………………………. This thesis was submitted for examination with my approval as Merger and acquisition master thesis supervisor.

Supervisors Name : Mr. Sunganani Bright Kaira Signature :………………………………………………. Date :………………………………………………. My supervisor, Sunganani Bright Kaira for providing guidance under what where, initially, very difficult situations. Your intoxicating enthusiasm drove me forward. You provided the perfect balance of liberating freedom and thorough review in conducting the research study.

My father - Mr. Kennedy Ngwira Snr, my sisters - Nthandose and Milicah Ngwira and the Mtonga family for their continued love and support in all that I do. I love you all!! My friends, Michael Mulenga, Mr. Chimya Donald, Mutuna Mutati, Regina Musonda, and Adrin Nambela for their love and understanding during my stay at ZCU.

Thank you for not making me a social pariah even in times when I deserted you. Patrick Chengo, Parret Muteto, and Masauso Phiri, merger and acquisition master thesis, my trusted CCPC investigation specialists, for always being willing to find information for me at the drop of a hat.

Words cannot express my gratitude. My lecturers, Mrs. Chime, Ms. Jessica Chisompola, Ms. Jennifer Bwalya, Mr. Charles C. Chandia, Mr. Cornelius Chilala, Mr. Pearson Chiwenda, Mr. Francis K. Chanda, Dr. Herbert Zingel, Fr Lesa and Mr. Sunganani B. Kaira HOD to you a big salute for your understanding, support and the sharing of your knowledge, without you wouldn t have reached these ends.

My fellow BBA colleagues for the camaraderie, fun, laughter, and altogether great times we have had over the last four years. Jean Lupili, merger and acquisition master thesis, Mr.

Kaira, Mr. Titus Chipili, Mr. Webster Merger and acquisition master thesis. Sikazwe, merger and acquisition master thesis, Francis K. Chanda, Mr. Cornelius C. Chilala and Mr. Chandia, to you, an enormous amount of gratitude for your understanding and support especially in my many periods I felt like the all world was collapsing over me, merger and acquisition master thesis.

I owe you a debt of deep gratitude. Last but not the least, I thank the Lord for the strength, health, willpower, and the energy to persevere over these last four years. i Dedication ii Acknowledgments iii Table of Contents iv List of Abbreviations ix List of Figures x List of Tables xi Abstract xii Key Terms xiii CHAPTER ONE The Annual Trend of the REIZ Plc Stock Price against the LAS ….

Table 5. The study covered the period — and to for the accounting study and event study respectively- in the Zambian context. It takes into account the event in which Arcades Development Pty merged and got acquired by Farmers House Plc.

There is no consensus in the abnormal returns earned by the acquiring company s shareholders and empirical evidence provides mixed outcomes. Hence, the main aim of this study was to evaluate the abnormal returns that were earned by the shareholders. The accounting study and a standard Event Study Methodology were used to provide a descriptive and empirical analysis in terms of profitability and abnormal returns respectively.

Financial ratios were used for the accounting study while abnormal returns were merger and acquisition master thesis for the event study. A non-standardized parametric sign test was also employed to test the hypothesis of the study.

The results for both the accounting study and the event study indicated that the merger and acquisition announcement enhanced the value of the shareholders.

The accounting study revealed that the profitability was quite low. The evaluation of the event study methodology revealed mixed results during the event period. Most of the abnormal returns were positive with a 0. The stock market efficiency was not tested has it was assumed to be efficient. The study concluded that shareholders gained an insignificant abnormal return on the event date.

Companies should also conduct a financial review and a pro forma analysis of the company to be acquired. Key Terms Mergers and Acquisitions, Acquiring Company, Shareholders Returns, Abnormal Returns, Profitability, and REIZ Plc.

Definition of Selected Key Terms Merger: are processes where two or more company s combine to share their human and physical assets as well as other company resources to attain common objectives with the shareholders retaining their ownership in both merger and acquisition master thesis companies.

Acquisitions: are processes where one company purchases acquires the stock shares or resources of another company which in turn makes shareholders of the acquired company to discontinue owning shares in the company.

Acquiring Company: is the company that gains control over the whole or part of the respective business of another company. Acquired Company: in the case, it is a company that is to be acquired target or that one which is acquired by the acquiring company bidding company Abnormal Returns: is the difference between the expected return on the company s stock and the actual return that culminates the merger and acquisition announcement, revealing the expected value merger and acquisition master thesis the synergies.

Sherman et al elaborated that Mergers and Acquisitions are one of the most efficient strategies for improving and growing the operations of the business quickly.

A number of research studies have been conducted on whether mergers and acquisitions increase or destroy the returns of the shareholders and the empirical findings show that mergers and acquisitions tend to appreciate or decrease the returns of the shareholders involved.

Therefore, this chapter mainly contains the introduction and the background to the study, merger and acquisition master thesis, that is, the short-term effects of mergers and acquisitions on the shareholders returns value creation. It also explains the background of Real Estate Investments Zambia REIZ Plc which is the place where the research was conducted as well as articulate the problem statement by providing the social need, knowledge gap, and the researcher s intentions.

The research objectives and questions are also incorporated in this chapter as well as the scope, the significance and purpose, and the disposition of the research study 1. Mergers and acquisitions are well known to be executed in order to enhance the returns of the shareholders of the company. Hence, this sub section of this chapter turns in the value creation background of mergers and acquisitions in general, at an African level and lastly in the Zambian context.

The Association of Chartered Certified Accountants ACCA F9 Study Manualp5 asserts merger and acquisition master thesis the fundamental aim of a company is to maximize shareholders wealth or value. Mergers and acquisitions are one of the fundamental growth strategies pursued by most companies with the aim of appreciating the shareholders wealth.

Their merger and acquisition master thesis on the returns of the shareholders, that is, in terms of dividend yield and capital gains have been widely studied upon. Often times, the results show that the acquiring companies earn low or negative abnormal returns while the acquired companies earn positive abnormal returns during the event of mergers and merger and acquisition master thesis Gonenc et alp.

Framework for a McKinsey, Bain, BCG Acquisition Case

, time: 29:44

Master Thesis Finance – A.A. Voesenek – The effects of mergers and acquisitions on firm performance 7 () and measures the effect on firm performance by the change in profits (EBIT). These two approaches are applied for different country groups in a non-crisis and a crisis period Mergers and acquisitions (M&As) are quite often considered as one of the best and quickest strategic methods to confront the global competitive market. However, it is indicated that these deals suffer from an alarmingly high rate of failure due to various reasons Jul 11,  · Master Thesis Mergers and Acquisitions 1. Running head: MERGERS AND ACQUISITIONS 1 Mergers and Acquisitions Timothy J. Meyer Northwest Nazarene University March 14, 2. MERGERS AND ACQUISITIONS 2 Abstract The purpose of this paper is to define and discuss ways in which organizations prepare for and follow through with mergers and