The relationship between acquirer's sustainability performance and M&A performance: Exploring the moderating role of social capital
| dc.contributor.advisor | Burzynska, Katarzyna | |
| dc.contributor.author | Coppens, Bas | |
| dc.date.issued | 2023-07-10 | |
| dc.description.abstract | This study investigates the effect of acquirer’s sustainability performance on M&A performance from a stakeholder theory perspective. Moreover, this study pioneers the use of social capital as a moderating variable in examining the positive relationship between an acquirer’s sustainability performance and their M&A performance. Performing an event study approach using pooled cross-sectional data analysing 846 announced M&A deals initiated by United States acquirers between 2003 and 2022, we find no statistically significant positive effect of the sustainability performance of an acquirer on their short-term M&A performance. In addition, individual pillar scores of the sustainability performance of acquirers on M&A performance show similar results. Finally, we find no evidence of a moderating effect of the novel concept of social capital on the positive relationship between an acquirer’s sustainability performance and their short-term M&A performance. Our results are robust, even when taking endogeneity concerns into account. | |
| dc.identifier.uri | https://theses.ubn.ru.nl/handle/123456789/14873 | |
| dc.language.iso | en | |
| dc.thesis.faculty | Faculteit der Managementwetenschappen | |
| dc.thesis.specialisation | specialisations::Faculteit der Managementwetenschappen::Master Economics::Corporate Finance & Control | |
| dc.thesis.studyprogramme | studyprogrammes::Faculteit der Managementwetenschappen::Master Economics | |
| dc.thesis.type | Master | |
| dc.title | The relationship between acquirer's sustainability performance and M&A performance: Exploring the moderating role of social capital |