Publicação
Cluster analysis and segmentation of Global M&A transactions
| dc.contributor.advisor | Almeida, José Neves de | |
| dc.contributor.author | Teixeira, Ricardo Moutinho | |
| dc.date.accessioned | 2013-06-07T14:19:36Z | |
| dc.date.available | 2013-06-07T14:19:36Z | |
| dc.date.issued | 2013-01 | |
| dc.description | A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics | por |
| dc.description.abstract | The present thesis is the analysis a dataset of mergers and acquisitions (M&A) through a segmentation process by cluster analysis, to better understand combined explanatory variables and characteristics of global M&A transactions. Past researched has strongly focused on (A) whether or not M&A creates wealth for investors or (B) which factors and variables help explain value this wealth (des)creation. The present thesis is rather an attempt to reach a third leg of research which is that, by segmenting and understanding these “natural” groupings we may develop a richer understanding of this form of corporate transactions. The paper comprises a study-event dataset from global completed M&A since 1994 with high disclosure filters, a factor analysis that selected 7 out of 13 variables from previous literature review, preceded by a the cluster analysis for variable selection. The end result indicated a connection between several explanatory variables and the formation of clusters with economical meaning. Six clusters were formed under a two-step clustering process. The paper has three relevant highlights: (1) the application of cluster analysis in a M&A setting; (2) the selection of surrogate variables from the factor analysis, providing better economic representation and (3) a clustering method that automatically captures the natural grouping the dataset. | por |
| dc.identifier.uri | http://hdl.handle.net/10362/9851 | |
| dc.language.iso | eng | por |
| dc.peerreviewed | no | por |
| dc.publisher | NSBE - UNL | por |
| dc.subject | Mergers and Acquisitions (M&A) | por |
| dc.subject | Value creation | por |
| dc.subject | Factor aAnalysis | por |
| dc.subject | Cluster analysis | por |
| dc.subject | Segmentation | por |
| dc.title | Cluster analysis and segmentation of Global M&A transactions | por |
| dc.type | master thesis | |
| dspace.entity.type | Publication | |
| rcaap.rights | openAccess | por |
| rcaap.type | masterThesis | por |