Title: An accounting comparison of the post-merger economic performance of Greek acquiring listed firms in domestic versus international M&As at Southeast Europe
Authors: Konstantinos Agorastos, Michail Pazarskis, Theofanis Karagiorgos
Addresses: Department of Business Administration, University of Macedonia, Egnatia 156 St., 54006 Thessaloniki, Greece. ' Department of Accounting, Technological Educational Institute of Serres, End of Magnisias St., 62124 Serres, Greece. ' Department of Business Administration, University of Macedonia, Egnatia 156 St., 54006 Thessaloniki, Greece
Abstract: This study examines the impact of M&As on the economic performance of merger-involved firms in Greece at domestic and international M&As using accounting data (financial ratios). The post-merger performance of a sample of acquiring listed firms involved in domestic M&As is compared with an equivalent sample of firms with similar characteristics involved in international M&As. The results revealed in general that the international M&As have provided a better post-merger economic performance for the acquiring firms than the domestic M&As, and in contrast to the general economic performance of all listed firms in this period also have had a superior performance.
Keywords: mergers; acquisitions; economic performance; financial ratios; accounting data; international M&As; Greece; Southeast Europe; domestic M&As; post-merger performance.
International Journal of Trade and Global Markets, 2011 Vol.4 No.3, pp.328 - 342
Published online: 08 Apr 2015 *Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article