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The impact of ownership concentration on the success of M&A Deals: evidence from Brazil
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This paper impact of M&A events on the performance of Brazilian firms and the dubious effects imposed by ownership concentration on the success of such deals over the 2008 to 2020 period. It is hypothesized that M&A events add value to acquiring firms and that ownership concentration leads to the abatement of agency conflict type I, positively affecting M&A success, while triggering agency conflict type II, negatively affecting the outcome of M&A events. Results offer solid support to accept both hypotheses.
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Directed research M&A. Brazil Agency conflict Ownership concentration