A Note on Merger and Acquisition Evaluation

Benjamin Furlan, Harald Oberhofer and Hannes Winner

No 462, WIFO Working Papers from WIFO

Abstract: This note proposes the continuous treatment approach as a valuable alternative to propensity score matching for evaluating economic effects of mergers and acquisitions (M&As). 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; employment effects; generalised propensity score matching (search for similar items in EconPapers)
Pages: 8 pages
Date: 2014-02
New Economics Papers: this item is included in nep-com and nep-ind
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: A note on merger and acquisition evaluation (2016)
Working Paper: A Note on Merger and Acquisition Evaluation (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:wfo:wpaper:y:2014:i:462

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