Impact of Merger and Acquisitions on Operating Performance: Evidence from Manufacturing Firms in India

Ramachandran Azhagaiah and Thangavelu Sathishkumar
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Ramachandran Azhagaiah: Pondicherry University, India
Thangavelu Sathishkumar: Pondicherry University, India

Managing Global Transitions, 2014, vol. 12, issue 2 (Summer), 121-139

Abstract: The present paper is carried out with the objective of studying what shift-in-structure is experienced especially in the operating performance (OP) after merger and acquisitions (M&AS) by studying 39 selected acquiring manufacturing firms in India. The firms, which had gone in to the M&AS process during the financial year 2006–2007 are only considered for the study. Factor analysis, correlation matrix, multiple regression, and chow test are applied to study the op of these firms in the pre-and post-merger periods. The study reveals that the M&AS process has significant (positive improvement) effect on op of the acquiring manufacturing firms in India after M&AS over the study period.

Keywords: acquisition; corporate restructuring; merger & acquisition; post-merger operating performance; operating performance of Indian industries; long-run operating performance (search for similar items in EconPapers)
JEL-codes: G34 L25 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (2)

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