Doğuş Üniversitesi Dergisi
Yazarlar: Fatma Büşra GÜNAY BENDAŞ
Konular:-
Anahtar Kelimeler:Acquisitions,Financial Markets,Event Studies
Özet: Acquisitions are assumed to create value for both the target and the acquiring firm. This paper analyzes the sources of value creation in acquisitions and examines the domestic acquisitions that took place in Turkey in 2013. By taking the overall market considerations into account, I measure the degree of value creation over different periods of time. I use the standard market value technique to calculate abnormal returns in stock prices of the acquiring firms and find that the increase in firm value is statistically significant in the long run but not in the short run.