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Author
Perepeczo Agnieszka (Uniwersytet Szczeciński)
Title
Metody oceny efektów finansowych fuzji i przejęć na podstawie danych księgowych
Methods of Assessment of Mergers and Acquisitions Based on Accounting Data
Source
Zeszyty Naukowe Uniwersytetu Szczecińskiego. Finanse, Rynki Finansowe, Ubezpieczenia, 2010, nr 31, s. 183-198, bibliogr. 18 poz.
Keyword
Fuzje i przejęcia, Wynik finansowy, Analiza zdarzeń
Mergers and acquisitions, Financial performance, Event study
Note
streszcz., summ..
Abstract
Z ekonomicznego punktu widzenia, ocena transakcji łączenia spółek powinna koncertować się tylko na stronach bezpośrednio uczestniczących spółek, a w szczególności na korzyściach i stratach osiąganych przez akcjonariuszy-inwestorów. Ekonomiczny rachunek efektów finansowych fuzji i przejęć to pomiar efektywności inwestycji, która ma na celu maksymalizację wartości dla akcjona­riuszy. Bezpośrednim miernikiem oceny wzrostu wartości dla akcjonariuszy jest stopa zwrotu. (abstrakt oryginalny)

The paper presents the essence of the methodology of event study used in developed markets to evaluate post-acquisition operating performance based on the accounting data. In particular, the paper discusses the issues of measurement of abnormal operating returns. Researchers have applied several return ratios to measure benefi ts after transactions, and cash fl ow return is one of the recent ones. The change model and regression analysis have been used to compare and contrast the changes in the median and mean of the aggregated indicators after the transaction to their pre-merger values. At the end, the author has addressed the issue of contemporary tendencies in the described methodology. (original abstract)
Accessibility
The Main Library of the Cracow University of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
Szczecin University Main Library
Bibliography
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ISSN
1640-6818
1733-2842
Language
pol
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