THE INFLUENCE OF THE ACQUISITION EXPERIENCE ON THE SUCCESSFULNESS OF INTERNATIONAL MERGERS AND ACQUISITIONS IN PHARMACEUTICAL INDUSTRY 2003-2009

Vlatka Bilas () and Vedran Baci ()
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Vlatka Bilas: University of Zagreb
Vedran Baci: Belupo Pharmaceuticals and Cosmetics, Koprivnica

Economic Thought and Practice, 2010, vol. 19, issue 2, 187-209

Abstract: This paper analyses the influence of the acquisition experience on the successfulness of international mergers and acquisitions in pharmaceutical industry. The main hypothesis is that inexperience in mergers and acquisitions additionally increases the risk in the process of mergers and acquisitions; therefore, the inexperienced companies have lower returns for the shareholders. The research was conducted on the sample of 263 pharmaceutical companies for the period January 1, 2003 to December 31, 2009.

Keywords: acquisition experience; mergers and acquisitions; pharmaceutical industry (search for similar items in EconPapers)
JEL-codes: L65 (search for similar items in EconPapers)
Date: 2010
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