Determinants of value creation through mergers and acquisitions in the MENA region
by Mohammed Ibrahimi; Mohammed Amine; Abdellatif Taghzouti
International Journal of Business Performance Management (IJBPM), Vol. 22, No. 2/3, 2021

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.

Online publication date: Thu, 22-Jul-2021

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