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The effect of cross-border Mergers and Acquisitions on the short-term operating performance
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This paper examines the impact of M&A transactions on financial performance, focusing on Return on Equity (ROE) and stock prices. A sample of 804 observations of cross-border transactions involving German companies acquired by foreign companies from 2022 to 2024.
Employing a multivariate regression analysis, allowed for drawing conclusions on the interrelations of variables. The results suggest caution in pursuing large deals solely for short term ROE improvements. Positive stock price reactions to larger deals indicate potential long term value creation opportunities. Furthermore, the contrasting effects of PE involvement on different performance metrics highlight the need for a refined strategy when considering PE backed transactions.
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M&A Performance Cross-border M&A Stockprices German SMEs ROE