Effects of Mergers and Acquisitions on Shareholder Wealth: Event Study for Latin American Airlines

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dc.contributor.authorCortés, Lina M.
dc.contributor.authorGarcía, John J.
dc.contributor.authorAgudelo, David
dc.contributor.eafitauthorlcortesd@eafit.edu.co
dc.contributor.eafitauthorjgarcia@eafit.edu.co
dc.contributor.eafitauthordagude14@gmail.com
dc.coverage.spatialMedellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degreeseng
dc.date.accessioned2015-01-22T22:14:34Z
dc.date.available2015-01-22T22:14:34Z
dc.date.issued2015-01-01
dc.description.abstractThis study analyzes the effectof changes in corporate controlon the way shareholdersbenefit from the announcements of selling and buying airlines, thus contributing to the literature on mergers and acquisitions (M&As) in emerging markets. Using a methodologyof event study, including GARCH and OLS models, we find evidence that some selling companies obtain abnormal returns that are statisticallysignificant after the announcement of the M&A. However, when the merger is not strategic, the companies present statisticallysignificant negative abnormal returns. The resultsare not conclusive when analyzing the effecton the valueof the buying companies.eng
dc.identifier.jelG14
dc.identifier.jelG34
dc.identifier.jelL21
dc.identifier.urihttp://hdl.handle.net/10784/4649
dc.language.isoengeng
dc.publisherUniversidad EAFITspa
dc.publisher.departmentEscuela de Economía y Finanzasspa
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.rights.localAcceso abiertospa
dc.subject.keywordMergers and acquisitionseng
dc.subject.keywordEvent studyeng
dc.subject.keywordAirlineseng
dc.subject.keywordLatin Americaeng
dc.titleEffects of Mergers and Acquisitions on Shareholder Wealth: Event Study for Latin American Airlineseng
dc.typeworkingPapereng
dc.typeinfo:eu-repo/semantics/workingPapereng
dc.type.hasVersiondrafteng
dc.type.localDocumento de trabajo de investigaciónspa

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