{"title":"Determinants of value creation through mergers and acquisitions in the MENA region","authors":"M. Ibrahimi, M. Amine, Abdellatif Taghzouti","doi":"10.1504/ijbpm.2021.10039427","DOIUrl":null,"url":null,"abstract":"Using a sample of 610 operations over 15 years, our article aims to analyse value creation in mergers and acquisitions and its determinants in the MENA region, using event study method and multiple regression. Our results indicate that overall, mergers and acquisitions create more value for targets than they do for acquirers. In domestic deals, it is the acquirers who benefit the most, while in cross-border deals, it is the targets who profit the most. This value creation is impacted positively by mergers and negatively by acquisitions and by industry relatedness. Geographic scope, payment method, mergers and acquisition experience and target status have no effect on value creation.","PeriodicalId":44434,"journal":{"name":"International Journal of Business Performance Management","volume":" ","pages":""},"PeriodicalIF":0.8000,"publicationDate":"2021-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Business Performance Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1504/ijbpm.2021.10039427","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"MANAGEMENT","Score":null,"Total":0}
引用次数: 0
Abstract
Using a sample of 610 operations over 15 years, our article aims to analyse value creation in mergers and acquisitions and its determinants in the MENA region, using event study method and multiple regression. Our results indicate that overall, mergers and acquisitions create more value for targets than they do for acquirers. In domestic deals, it is the acquirers who benefit the most, while in cross-border deals, it is the targets who profit the most. This value creation is impacted positively by mergers and negatively by acquisitions and by industry relatedness. Geographic scope, payment method, mergers and acquisition experience and target status have no effect on value creation.
期刊介绍：
The most distinctive characteristic of a high performance organisation is a strong commitment to explore innovative thinking as a means of delivering a breakthrough in performance. IJBPM aims to examine both hard and soft perspectives in managing business performance, in both public and corporate organisations. Topics covered include: -Business strategy and business process re-engineering Corporate culture- Education and training, organisational learning- Ethical and environmental issues- Intellectual assets management- Innovation and knowledge management- Internet/intranet- Operations strategy- Outsourcing and strategic alliances- Modelling techniques- Performance benchmarking and measurement- Productivity and quality- Public sector management- Technological change and impact- Virtual team working.
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