| VALOUCH, Petr, Jaroslav SEDLÁČEK a Maria KRÁLOVÁ. Impact of Mergers of Czech Companies on their Profitability and Returns. Ekonomický časopis. SAP - Slovak Academic Press, 2015, roč. 63, č. 4, s. 410-430. ISSN 0013-3035. |
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@article{1306918,
author = {Valouch, Petr and Sedláček, Jaroslav and Králová, Maria},
article_number = {4},
keywords = {mergers; earnings after taxes; return on assets; return on equities; effects of mergers; statistical tests},
language = {eng},
issn = {0013-3035},
journal = {Ekonomický časopis},
title = {Impact of Mergers of Czech Companies on their Profitability and Returns},
volume = {63},
year = {2015}
}
TY - JOUR
ID - 1306918
AU - Valouch, Petr - Sedláček, Jaroslav - Králová, Maria
PY - 2015
TI - Impact of Mergers of Czech Companies on their Profitability and Returns
JF - Ekonomický časopis
VL - 63
IS - 4
SP - 410-430
EP - 410-430
PB - SAP - Slovak Academic Press
SN - 00133035
KW - mergers
KW - earnings after taxes
KW - return on assets
KW - return on equities
KW - effects of mergers
KW - statistical tests
N2 - The aim of this paper is to assess whether mergers of companies in the Czech Republic affect the profitability and returns of merged companies in the period of three years after the merger. The analysis is based on a sample of over 300 Czech companies implementing mergers in 2001 – 2010. This sample was created using data from the Trade Bulletin and Trade Register of the Czech Republic. The analysis used basic statistical tests verifying the statistical significance of the particular explored indicators of merging and merged companies three years after the merger in relation to the same indicators at the moment of merger. The explored indicators were net earnings after taxes (EAT), return on assets (ROA) and return on equities (ROE). The period of three years after the merger was chosen due to the reduced influence of some accounting methods requiring revaluation or exclusion of some assets from the balance sheet of the merged company.
ER -
VALOUCH, Petr, Jaroslav SEDLÁČEK a Maria KRÁLOVÁ. Impact of Mergers of Czech Companies on their Profitability and Returns. \textit{Ekonomický časopis}. SAP - Slovak Academic Press, 2015, roč.~63, č.~4, s.~410-430. ISSN~0013-3035.
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