A Note on Merger and Acquisition Evaluation

Benjamin Furlan (), Harald Oberhofer and Hannes Winner
Additional contact information
Benjamin Furlan: University of Salzburg

No 2014-2, Working Papers in Economics from University of Salzburg

Abstract: This note proposes the continuous treatment approach as a valuable alternative to propensity score matching for evaluating economic effects of merger and acquisitions (M&A). This framework allows to consider the variation in treatment intensities explicitly, and it does not call for the definition of cut-off values in traded ownership shares in order to construct a binary treatment indicator. We demonstrate the usefulness of this approach using data from European M&As and by relying on the example of post-M&A employment effects.

Keywords: Merger and acquisition evaluation; continuous treatment models; generalized propensity score matching; employment effects (search for similar items in EconPapers)
JEL-codes: C21 G34 L25 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2014-03-07
New Economics Papers: this item is included in nep-com
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.uni-salzburg.at/fileadmin/multimedia/SO ... pers/wp2014_no02.pdf Full text (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.uni-salzburg.at/fileadmin/multimedia/SOWI/documents/working_papers/wp2014_no02.pdf [302 Moved Temporarily]--> https://www.uni-salzburg.at/fileadmin/multimedia/SOWI/documents/working_papers/wp2014_no02.pdf [301 Moved Permanently]--> https://www.plus.ac.at/404)

Related works:
Journal Article: A note on merger and acquisition evaluation (2016)
Working Paper: A Note on Merger and Acquisition Evaluation (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:sbgwpe:2014_002

Access Statistics for this paper

More papers in Working Papers in Economics from University of Salzburg Contact information at EDIRC.
Bibliographic data for series maintained by Jörg Paetzold ().