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@article{1113447,
author = {Sedláček, Jaroslav and Valouch, Petr and Králová, Maria},
article_location = {Austria},
article_number = {6},
keywords = {company transformations; mergers and acquisitions; macroeconomic environment; economic effects; earnings after tax; measuring; equity; statistical analysis; return on equity;},
language = {eng},
issn = {1561-882X},
journal = {Wulfenia Journal},
title = {An empirical model of measuring economic effects of mergers},
volume = {roč. 20},
year = {2013}
}
TY - JOUR
ID - 1113447
AU - Sedláček, Jaroslav - Valouch, Petr - Králová, Maria
PY - 2013
TI - An empirical model of measuring economic effects of mergers
JF - Wulfenia Journal
VL - roč. 20
IS - 6
SP - 271-279
EP - 271-279
SN - 1561882X
KW - company transformations
KW - mergers and acquisitions
KW - macroeconomic environment
KW - economic effects
KW - earnings after tax
KW - measuring
KW - equity
KW - statistical analysis
KW - return on equity;
N2 - Out of the many possible methods suitable for measuring efficiency, we selected a financial analysis based on ratio indicators. The method uses empirical data extracted from the Trade Register for the period 2001–2011. The structure of the data allows us to analyse economic effects of mergers and indicate possible causes of their (in)efficiency. We chose variables earnings after tax and equity out of the possible economic characteristics of merger efficiency. Statistical testing of hypotheses did not confirm a positive effect of mergers on the development of either of the variables. To ascertain the real economic contribution of the mergers for owners, we chose the indicator return on equity and monitored its change before and after a merger. The created model enables to select any sets of parallel indicators suitable for a complex analysis of economic effects of mergers.
ER -
SEDLÁČEK, Jaroslav, Petr VALOUCH a Maria KRÁLOVÁ. An empirical model of measuring economic effects of mergers. \textit{Wulfenia Journal}. Austria, 2013, roč. 20, č.~6, s.~271-279. ISSN~1561-882X.
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