The main part of this thesis was devoted to applying performance measures in the analysis of mergers and acquisitions. Performance measures take into account the profitability of a company and the risk associated to that company.To analyze potential post-merger synergies one can combine the pre-merger financial results of two companies and calculate the value of an applicable
performance measure. If the value exceeds that of the bidder by itself the
merger is said to generate positive synergies. The thesis demonstrates how the calculations can be performed as well as advantages and disadvantages of various performance measures.
Most performance measures involve company's returns. It was shown that only quarterly return is a reliable source of information about company's performance. To deal with quarterly data annualization method for all applicable
ratios was developed. Several examples were created to demonstrate advantages and disadvantages of annualized applicable performance measures. Three real-world examples of recent acquisitions in Canada and USA were given and
analyzed . / Mathematical Finance
| Identifer | oai:union.ndltd.org:LACETR/oai:collectionscanada.gc.ca:AEU.10048/640 |
| Date | 11 1900 |
| Creators | Evstafyeva, Anna |
| Contributors | Melnikov, Alexander (Department of Mathematical and Statistical Sciences), Schmuland, Byron (Department of Mathematical and Statistical Sciences), Yaskin, Vladyslav (Department of Mathematical and Statistical Sciences), Scepesvari, Csaba (Computing Science) |
| Source Sets | Library and Archives Canada ETDs Repository / Centre d'archives des thèses électroniques de Bibliothèque et Archives Canada |
| Language | English |
| Detected Language | English |
| Type | Thesis |
| Format | 351784 bytes, application/pdf |
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