Beyond Acquisitions: The Financial Impact of Strategic Corporate Alliance-to- Acquisitions
| dc.contributor.advisor | McCarty, K. | |
| dc.contributor.author | Ören, Emrah | |
| dc.date.issued | 2024-06-28 | |
| dc.description.abstract | Acquisitions are risky events and lead to high transaction costs, but they can be mitigated through establishing strategic alliances prior to the acquisition which lowers transaction costs. Acquisitions are measured by stock performance since it signals the shareholder’s expected synergies and future performance improvements due to the acquisition. This study explores the correlation of transaction value and acquisition strategy on the stock performance of the acquirer in high-tech industries. The sample consists of 252 firms and 3,121 acquisitions from 1990 to 2017. Findings indicate a negative average return per transaction. Neither transaction value nor acquisition strategy significantly affect stock performance. The study supports transaction cost theory by emphasizing the importance of minimizing transaction costs, leveraging strategic alliances, and challenging the opportunistic assumptions of alliance-to-acquisition strategies. The findings offer valuable insights for managers, researchers, and policymakers. | |
| dc.identifier.uri | https://theses.ubn.ru.nl/handle/123456789/17899 | |
| dc.language.iso | en | |
| dc.thesis.faculty | Faculteit der Managementwetenschappen | |
| dc.thesis.specialisation | specialisations::Faculteit der Managementwetenschappen::Master Business Administration::Strategic Management | |
| dc.thesis.studyprogramme | studyprogrammes::Faculteit der Managementwetenschappen::Master Business Administration | |
| dc.thesis.type | Master | |
| dc.title | Beyond Acquisitions: The Financial Impact of Strategic Corporate Alliance-to- Acquisitions |
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