VALOUCH, Petr, Jaroslav SEDLÁČEK and Maria KRÁLOVÁ. Impact of Mergers of Czech Companies on their Profitability and Returns. Ekonomický časopis. SAP - Slovak Academic Press, 2015, vol. 63, No 4, p. 410-430. ISSN 0013-3035.
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Basic information
Original name Impact of Mergers of Czech Companies on their Profitability and Returns
Authors VALOUCH, Petr (203 Czech Republic, guarantor, belonging to the institution), Jaroslav SEDLÁČEK (203 Czech Republic, belonging to the institution) and Maria KRÁLOVÁ (203 Czech Republic, belonging to the institution).
Edition Ekonomický časopis, SAP - Slovak Academic Press, 2015, 0013-3035.
Other information
Original language English
Type of outcome Article in a journal
Field of Study 50206 Finance
Country of publisher Slovakia
Confidentiality degree is not subject to a state or trade secret
Impact factor Impact factor: 0.606
RIV identification code RIV/00216224:14560/15:00080929
Organization unit Faculty of Economics and Administration
UT WoS 000358389800005
Keywords in English mergers; earnings after taxes; return on assets; return on equities; effects of mergers; statistical tests
Tags International impact, Reviewed
Changed by Changed by: Ing. Petr Valouch, Ph.D., učo 11223. Changed: 26/2/2018 12:33.
Abstract
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.
Links
GAP403/11/0447, research and development projectName: Analýza daňových a účetních postupů při fúzích
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