The Impact of Takeovers on the Acquiring Firms in the Pharmaceutical Market
The pharmaceutical market plays a crucial role in the global economy. The level of competitiveness among companies in this sector is very high. To retain their position or even speed up the growth, market players continuously use takeovers as one of the major tools embedded in theirstrategies. Neve...
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| Format: | Article |
| Language: | English |
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Tomas Bata University in Zlín
2017-03-01
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| Series: | Journal of Competitiveness |
| Subjects: | |
| Online Access: | http://www.cjournal.cz/files/243.pdf |
| _version_ | 1818067397815304192 |
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| author | Raciborski Michal |
| author_facet | Raciborski Michal |
| author_sort | Raciborski Michal |
| collection | DOAJ |
| description | The pharmaceutical market plays a crucial role in the global economy. The level of competitiveness among companies in this sector is very high. To retain their position or even speed up the
growth, market players continuously use takeovers as one of the major tools embedded in theirstrategies. Nevertheless, despite this fact, the concentration level on this market has stayed relatively stable for the last two decades. Furthermore, it is also confirmed in the literature that such transactions usually tend to deteriorate value for the buyers and their shareholders. Based on the sample of 127 deals taking place between 1998 and 2011, this study uses a quantitative analysis to evaluate the impact of takeovers on acquirers. It covers event and accounting studies. Depending on the time window used in this study, the results show either lack of statistically significant effect of acquisition on buyers or that such impact is negative. These conclusions are in line with the existing literature findings. |
| first_indexed | 2024-12-10T15:23:02Z |
| format | Article |
| id | doaj.art-ed0704b7eaab4e1c931df387911ffac4 |
| institution | Directory Open Access Journal |
| issn | 1804-171X 1804-1728 |
| language | English |
| last_indexed | 2024-12-10T15:23:02Z |
| publishDate | 2017-03-01 |
| publisher | Tomas Bata University in Zlín |
| record_format | Article |
| series | Journal of Competitiveness |
| spelling | doaj.art-ed0704b7eaab4e1c931df387911ffac42022-12-22T01:43:38ZengTomas Bata University in ZlínJournal of Competitiveness1804-171X1804-17282017-03-01918910210.7441/joc.2017.01.06The Impact of Takeovers on the Acquiring Firms in the Pharmaceutical MarketRaciborski Michal0Poznan University of Economics The pharmaceutical market plays a crucial role in the global economy. The level of competitiveness among companies in this sector is very high. To retain their position or even speed up the growth, market players continuously use takeovers as one of the major tools embedded in theirstrategies. Nevertheless, despite this fact, the concentration level on this market has stayed relatively stable for the last two decades. Furthermore, it is also confirmed in the literature that such transactions usually tend to deteriorate value for the buyers and their shareholders. Based on the sample of 127 deals taking place between 1998 and 2011, this study uses a quantitative analysis to evaluate the impact of takeovers on acquirers. It covers event and accounting studies. Depending on the time window used in this study, the results show either lack of statistically significant effect of acquisition on buyers or that such impact is negative. These conclusions are in line with the existing literature findings.http://www.cjournal.cz/files/243.pdfacquisitionspharmaceutical companiesevent studiesaccounting studies |
| spellingShingle | Raciborski Michal The Impact of Takeovers on the Acquiring Firms in the Pharmaceutical Market Journal of Competitiveness acquisitions pharmaceutical companies event studies accounting studies |
| title | The Impact of Takeovers on the Acquiring Firms in the Pharmaceutical Market |
| title_full | The Impact of Takeovers on the Acquiring Firms in the Pharmaceutical Market |
| title_fullStr | The Impact of Takeovers on the Acquiring Firms in the Pharmaceutical Market |
| title_full_unstemmed | The Impact of Takeovers on the Acquiring Firms in the Pharmaceutical Market |
| title_short | The Impact of Takeovers on the Acquiring Firms in the Pharmaceutical Market |
| title_sort | impact of takeovers on the acquiring firms in the pharmaceutical market |
| topic | acquisitions pharmaceutical companies event studies accounting studies |
| url | http://www.cjournal.cz/files/243.pdf |
| work_keys_str_mv | AT raciborskimichal theimpactoftakeoversontheacquiringfirmsinthepharmaceuticalmarket AT raciborskimichal impactoftakeoversontheacquiringfirmsinthepharmaceuticalmarket |