The impact of M&A on the operating performance: An empirical analysis of the Professional Services Industry
Backgrounds: Facing the rising tide of globalisation, firms cannot only compete with domestic counterparts. Companies should keep up with cross-border competitors in the circumstances nowadays. The strong demands for searching internal and external improvements encourage companies which include firm...
| Main Author: | |
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2013
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| Online Access: | https://eprints.nottingham.ac.uk/26679/ |
| _version_ | 1848793224548712448 |
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| author | Xu, Wanting |
| author_facet | Xu, Wanting |
| author_sort | Xu, Wanting |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | Backgrounds: Facing the rising tide of globalisation, firms cannot only compete with domestic counterparts. Companies should keep up with cross-border competitors in the circumstances nowadays. The strong demands for searching internal and external improvements encourage companies which include firms in professional services industry to participate in M&A activities which are increasingly applied nowadays. However, the impact of M&A of professional services has not been researched enough.
Methods: In order to explore the influences of M&A activities on operating performance in the professional services industry, primary data and analytical discussion were obtained from Zephyr. Several tests are applied to detect the effects of M&A. Further regression analyses of recent M&A events were conducted by using STATA to arrive at the conclusion.
Purpose: This thesis makes an attempt to explore whether M&A can bring improvements for acquirer and target firms or not, and how M&A and financial related factors can affect the operating performance.
Findings: M&A activities can negatively affect the operating performance of both bidding and target firms. Factors such as firm size and pre-merger performance are positively correlated with post-merger operating performance, while deal value, market capitalisation and operating revenue can negatively influence post-merger operating performance. Country elements which refer to geographic distribution are not related with operating performance.
Keywords: M&A, acquirer, target, financial factors, professional services |
| first_indexed | 2025-11-14T18:56:54Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-26679 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T18:56:54Z |
| publishDate | 2013 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-266792017-10-19T13:35:51Z https://eprints.nottingham.ac.uk/26679/ The impact of M&A on the operating performance: An empirical analysis of the Professional Services Industry Xu, Wanting Backgrounds: Facing the rising tide of globalisation, firms cannot only compete with domestic counterparts. Companies should keep up with cross-border competitors in the circumstances nowadays. The strong demands for searching internal and external improvements encourage companies which include firms in professional services industry to participate in M&A activities which are increasingly applied nowadays. However, the impact of M&A of professional services has not been researched enough. Methods: In order to explore the influences of M&A activities on operating performance in the professional services industry, primary data and analytical discussion were obtained from Zephyr. Several tests are applied to detect the effects of M&A. Further regression analyses of recent M&A events were conducted by using STATA to arrive at the conclusion. Purpose: This thesis makes an attempt to explore whether M&A can bring improvements for acquirer and target firms or not, and how M&A and financial related factors can affect the operating performance. Findings: M&A activities can negatively affect the operating performance of both bidding and target firms. Factors such as firm size and pre-merger performance are positively correlated with post-merger operating performance, while deal value, market capitalisation and operating revenue can negatively influence post-merger operating performance. Country elements which refer to geographic distribution are not related with operating performance. Keywords: M&A, acquirer, target, financial factors, professional services 2013-09-19 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/26679/1/MSc_Finance_and_Investment_Dissertation_Wanting_Xu.pdf Xu, Wanting (2013) The impact of M&A on the operating performance: An empirical analysis of the Professional Services Industry. [Dissertation (University of Nottingham only)] (Unpublished) |
| spellingShingle | Xu, Wanting The impact of M&A on the operating performance: An empirical analysis of the Professional Services Industry |
| title | The impact of M&A on the operating performance: An empirical analysis of the Professional Services Industry |
| title_full | The impact of M&A on the operating performance: An empirical analysis of the Professional Services Industry |
| title_fullStr | The impact of M&A on the operating performance: An empirical analysis of the Professional Services Industry |
| title_full_unstemmed | The impact of M&A on the operating performance: An empirical analysis of the Professional Services Industry |
| title_short | The impact of M&A on the operating performance: An empirical analysis of the Professional Services Industry |
| title_sort | impact of m&a on the operating performance: an empirical analysis of the professional services industry |
| url | https://eprints.nottingham.ac.uk/26679/ |