FUSÕES E AQUISIÇÕES DE EMPRESAS BRASILEIRAS: CRIAÇÃO DE VALOR E SINERGIAS OPERACIONAIS
The objective of this article was to assess if mergers and acquisitions in Brazilian companies resulted in operating synergies and created value for shareholders. An attempt was also made to identify the existence of the correlation between three value creation measures used, with the aim of justify...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Fundação Getulio Vargas, Escola de Administração de Empresas de São Paulo
2009-04-01
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| Series: | RAE: Revista de Administração de Empresas |
| Subjects: | |
| Online Access: | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0034-75902009000200007&lng=en&nrm=iso |
| _version_ | 1797701757198925824 |
|---|---|
| author | Francisco Vidal Barbosa Marcos Antônio de Camargos |
| author_facet | Francisco Vidal Barbosa Marcos Antônio de Camargos |
| author_sort | Francisco Vidal Barbosa |
| collection | DOAJ |
| description | The objective of this article was to assess if mergers and acquisitions in Brazilian companies resulted in operating synergies and created value for shareholders. An attempt was also made to identify the existence of the correlation between three value creation measures used, with the aim of justifying their use as alternative proxies for corporate performance. A descriptive study was carried out that used the Wilcoxon Signed Rank Test and the Rank Test for analyzing the quarterly data of 72 Mergers & Acquisitions processes that occurred between January 1996 and December 2004. The Mergers & Acquisitions studied resulted in operating synergies and maximization of the market value of the companies surveyed and apparently of shareholder wealth. Significant correlations were also found between the value creation variables. |
| first_indexed | 2024-03-12T04:40:20Z |
| format | Article |
| id | doaj.art-b3bc78ab597446e3ae3e4c389aa89104 |
| institution | Directory Open Access Journal |
| issn | 0034-7590 2178-938X |
| language | English |
| last_indexed | 2024-03-12T04:40:20Z |
| publishDate | 2009-04-01 |
| publisher | Fundação Getulio Vargas, Escola de Administração de Empresas de São Paulo |
| record_format | Article |
| series | RAE: Revista de Administração de Empresas |
| spelling | doaj.art-b3bc78ab597446e3ae3e4c389aa891042023-09-03T09:45:23ZengFundação Getulio Vargas, Escola de Administração de Empresas de São PauloRAE: Revista de Administração de Empresas0034-75902178-938X2009-04-01492206220FUSÕES E AQUISIÇÕES DE EMPRESAS BRASILEIRAS: CRIAÇÃO DE VALOR E SINERGIAS OPERACIONAISFrancisco Vidal BarbosaMarcos Antônio de CamargosThe objective of this article was to assess if mergers and acquisitions in Brazilian companies resulted in operating synergies and created value for shareholders. An attempt was also made to identify the existence of the correlation between three value creation measures used, with the aim of justifying their use as alternative proxies for corporate performance. A descriptive study was carried out that used the Wilcoxon Signed Rank Test and the Rank Test for analyzing the quarterly data of 72 Mergers & Acquisitions processes that occurred between January 1996 and December 2004. The Mergers & Acquisitions studied resulted in operating synergies and maximization of the market value of the companies surveyed and apparently of shareholder wealth. Significant correlations were also found between the value creation variables.http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0034-75902009000200007&lng=en&nrm=isoMergers and acquisitionsvalue creationoperating synergiesWilcoxon Signed Rank TestRank Test. |
| spellingShingle | Francisco Vidal Barbosa Marcos Antônio de Camargos FUSÕES E AQUISIÇÕES DE EMPRESAS BRASILEIRAS: CRIAÇÃO DE VALOR E SINERGIAS OPERACIONAIS RAE: Revista de Administração de Empresas Mergers and acquisitions value creation operating synergies Wilcoxon Signed Rank Test Rank Test. |
| title | FUSÕES E AQUISIÇÕES DE EMPRESAS BRASILEIRAS: CRIAÇÃO DE VALOR E SINERGIAS OPERACIONAIS |
| title_full | FUSÕES E AQUISIÇÕES DE EMPRESAS BRASILEIRAS: CRIAÇÃO DE VALOR E SINERGIAS OPERACIONAIS |
| title_fullStr | FUSÕES E AQUISIÇÕES DE EMPRESAS BRASILEIRAS: CRIAÇÃO DE VALOR E SINERGIAS OPERACIONAIS |
| title_full_unstemmed | FUSÕES E AQUISIÇÕES DE EMPRESAS BRASILEIRAS: CRIAÇÃO DE VALOR E SINERGIAS OPERACIONAIS |
| title_short | FUSÕES E AQUISIÇÕES DE EMPRESAS BRASILEIRAS: CRIAÇÃO DE VALOR E SINERGIAS OPERACIONAIS |
| title_sort | fusoes e aquisicoes de empresas brasileiras criacao de valor e sinergias operacionais |
| topic | Mergers and acquisitions value creation operating synergies Wilcoxon Signed Rank Test Rank Test. |
| url | http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0034-75902009000200007&lng=en&nrm=iso |
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