Political contributions firm performance and M&A activity in the US
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Keywords
Political contribution ; M&A process ; Takeover premium ; Hubris hypothesis ; Acquirers ; Target firmsAbstract
With the general conviction that political contributions ,and the political connections created by , can influence the M&A process outcome, the present study presents evidence of this influence on M&A deals made in the US. The study’s findings show that political connected acquirers benefit from political contributions and the connections achieved through them. As the analysis show, politically connected acquirers pay a much higher takeover premium for the target firms than the non-political connected acquirers. The interpretation of this behavior is explained through Hubris Hypothesis and the political support behind it.
Postgraduate Studies Programme
Χρηματοοικονομική και Τραπεζική με κατεύθυνση στην Χρηματοοικονομική και Τραπεζική ΔιοικητικήDepartment
Σχολή Χρηματοοικονομικής και Στατιστικής. Τμήμα Χρηματοοικονομικής και Τραπεζικής ΔιοικητικήςNumber of pages
71Language
English
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Attribution-NonCommercial-NoDerivatives 4.0 Διεθνές
Attribution-NonCommercial-NoDerivatives 4.0 Διεθνές