Mergers & acquisitions : a study of abnormal returns and deal characteristics for acquiring companies during the winter season.

Seasonal Affective Disorder (SAD), a psychological condition that causes depression and heightened risk aversion among people experiencing fall and winter, have been found to have an impact on financial markets such as stock market returns from previous research. This paper aims to study if the effe...

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Main Authors: Teo, Sharon Wee Sun., Toh, Desmond Wei Kang., Peng, Roy Yanquan.
Other Authors: Nanyang Business School
Format: Final Year Project
Language:English
Published: 2011
Subjects:
Online Access:http://hdl.handle.net/10356/43576
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Institution: Nanyang Technological University
Language: English
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spelling sg-ntu-dr.10356-435762023-05-19T06:24:06Z Mergers & acquisitions : a study of abnormal returns and deal characteristics for acquiring companies during the winter season. Teo, Sharon Wee Sun. Toh, Desmond Wei Kang. Peng, Roy Yanquan. Nanyang Business School Gao Huasheng DRNTU::Business::Finance::Mergers and acquisitions Seasonal Affective Disorder (SAD), a psychological condition that causes depression and heightened risk aversion among people experiencing fall and winter, have been found to have an impact on financial markets such as stock market returns from previous research. This paper aims to study if the effects of SAD are evident in mergers and acquisitions (M&A) deals. Data collected from public US M&A deals occurring between 1980 to 2008 with deal values more than US$10 million are subjected to empirical analysis and regression analysis. Results have subsequently shown to exhibit effects of SAD such as greater returns for deals conducted in the winter season, all of which are statistically significant. Other risk adverse attitudes can be observed in the way M&A deals during winter are concluded in cash, deal values being greater, and are more diversifying and hostile in nature. BUSINESS 2011-04-13T07:03:40Z 2011-04-13T07:03:40Z 2011 2011 Final Year Project (FYP) http://hdl.handle.net/10356/43576 en Nanyang Technological University 44 p. application/pdf
institution Nanyang Technological University
building NTU Library
continent Asia
country Singapore
Singapore
content_provider NTU Library
collection DR-NTU
language English
topic DRNTU::Business::Finance::Mergers and acquisitions
spellingShingle DRNTU::Business::Finance::Mergers and acquisitions
Teo, Sharon Wee Sun.
Toh, Desmond Wei Kang.
Peng, Roy Yanquan.
Mergers & acquisitions : a study of abnormal returns and deal characteristics for acquiring companies during the winter season.
description Seasonal Affective Disorder (SAD), a psychological condition that causes depression and heightened risk aversion among people experiencing fall and winter, have been found to have an impact on financial markets such as stock market returns from previous research. This paper aims to study if the effects of SAD are evident in mergers and acquisitions (M&A) deals. Data collected from public US M&A deals occurring between 1980 to 2008 with deal values more than US$10 million are subjected to empirical analysis and regression analysis. Results have subsequently shown to exhibit effects of SAD such as greater returns for deals conducted in the winter season, all of which are statistically significant. Other risk adverse attitudes can be observed in the way M&A deals during winter are concluded in cash, deal values being greater, and are more diversifying and hostile in nature.
author2 Nanyang Business School
author_facet Nanyang Business School
Teo, Sharon Wee Sun.
Toh, Desmond Wei Kang.
Peng, Roy Yanquan.
format Final Year Project
author Teo, Sharon Wee Sun.
Toh, Desmond Wei Kang.
Peng, Roy Yanquan.
author_sort Teo, Sharon Wee Sun.
title Mergers & acquisitions : a study of abnormal returns and deal characteristics for acquiring companies during the winter season.
title_short Mergers & acquisitions : a study of abnormal returns and deal characteristics for acquiring companies during the winter season.
title_full Mergers & acquisitions : a study of abnormal returns and deal characteristics for acquiring companies during the winter season.
title_fullStr Mergers & acquisitions : a study of abnormal returns and deal characteristics for acquiring companies during the winter season.
title_full_unstemmed Mergers & acquisitions : a study of abnormal returns and deal characteristics for acquiring companies during the winter season.
title_sort mergers & acquisitions : a study of abnormal returns and deal characteristics for acquiring companies during the winter season.
publishDate 2011
url http://hdl.handle.net/10356/43576
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