dor_id: 4121938

506.#.#.a: Público

590.#.#.d: Los artículos enviados a la revista "Contaduría y Administración", se juzgan por medio de un proceso de revisión por pares

510.0.#.a: Consejo Nacional de Ciencia y Tecnología (CONACyT); Sistema Regional de Información en Línea para Revistas Científicas de América Latina, el Caribe, España y Portugal (Latindex); Scientific Electronic Library Online (SciELO); SCOPUS, SCImago Journal Rank (SJR)

561.#.#.u: https://www.fca.unam.mx/

650.#.4.x: Ciencias Sociales y Económicas

336.#.#.b: article

336.#.#.3: Artículo de Investigación

336.#.#.a: Artículo

351.#.#.6: http://www.cya.unam.mx/index.php/cya/index

351.#.#.b: Contaduría y Administración

351.#.#.a: Artículos

harvesting_group: RevistasUNAM

270.1.#.p: Revistas UNAM. Dirección General de Publicaciones y Fomento Editorial, UNAM en revistas@unam.mx

590.#.#.c: Open Journal Systems (OJS)

270.#.#.d: MX

270.1.#.d: México

590.#.#.b: Concentrador

883.#.#.u: https://revistas.unam.mx/catalogo/

883.#.#.a: Revistas UNAM

590.#.#.a: Coordinación de Difusión Cultural

883.#.#.1: https://www.publicaciones.unam.mx/

883.#.#.q: Dirección General de Publicaciones y Fomento Editorial

850.#.#.a: Universidad Nacional Autónoma de México

856.4.0.u: http://www.cya.unam.mx/index.php/cya/article/view/2991/1616

100.1.#.a: Novaes Gomes, Paulo Victor; Lamounier, Wagner Moura; Fully Bressan, Valéria Gama

524.#.#.a: Novaes Gomes, Paulo Victor, et al. (2022). Is there really synergy creation after M&A? Evidence from Brazil under the life cycle approach. Contaduría y Administración; Vol. 67, Núm. 1:. Recuperado de https://repositorio.unam.mx/contenidos/4121938

720.#.#.a: Conselho Nacional de Desenvolvimento Científico e Tecnológico - CNPqConselho Nacional de Desenvolvimento Científico e Tecnológico - CNPq

245.1.0.a: Is there really synergy creation after M&A? Evidence from Brazil under the life cycle approach

502.#.#.c: Universidad Nacional Autónoma de México

561.1.#.a: Facultad de Contaduría y Administración, UNAM

264.#.0.c: 2022

264.#.1.c: 2021-05-28

653.#.#.a: D53, g34, m41.; mergers and acquisitions; synergy; life cycle stages; propensity score matching.d53, g34, m41.; mergers and acquisitions; synergy; life cycle stages; propensity score matching.

506.1.#.a: La titularidad de los derechos patrimoniales de esta obra pertenece a las instituciones editoras. Su uso se rige por una licencia Creative Commons BY 4.0 Internacional, https://creativecommons.org/licenses/by/4.0/legalcode.es, fecha de asignación de la licencia 2021-05-28, para un uso diferente consultar al responsable jurídico del repositorio por medio del correo electrónico revista_cya@fca.unam.mx

884.#.#.k: http://www.cya.unam.mx/index.php/cya/article/view/2991

001.#.#.#: oai:cya.www.revistas-conacyt.unam.mx:article/2991

041.#.7.h: eng

520.3.#.a: Theoretical models predict that M&A results in synergy creation, and the empirical literature suggests that mature firms are consistently less risky and then more likely to succeed on such activities. We then investigate the life cycle stage’s role in the synergy creation after a Merger and Acquisition (M&A) activity in the Brazilian capital market. We use data from non-financial firms listed at the Brazilian capital market between 2010 and 2017. Data on M&A negotiations were extracted from the ANBIMA’s database, while financial accounting information was collected on the Comdinheiro® database. Using the Propensity Score Matching to develop a control group, we estimate a linear regression model to capture the diff-in-diff effects on synergy creation for each stage, but focusing on mature firms, after the M&A activity. After several robustness checks, we firstly document a decrease on average in performance measures after the M&A. Moreover, we found no statistical differences for maturity neither for other stages. These results give rise to questions about the proper conditions for the bidder before engaging in such a firm reorganization and claims for future research on synergy creation and motives for M&As. Theoretical models predict that M&A results in synergy creation, and the empirical literature suggests that mature firms are consistently less risky and then more likely to succeed on such activities. We then investigate the life cycle stage’s role in the synergy creation after a Merger and Acquisition (M&A) activity in the Brazilian capital market. We use data from non-financial firms listed at the Brazilian capital market between 2010 and 2017. Data on M&A negotiations were extracted from the ANBIMA’s database, while financial accounting information was collected on the Comdinheiro® database. Using the Propensity Score Matching to develop a control group, we estimate a linear regression model to capture the diff-in-diff effects on synergy creation for each stage, but focusing on mature firms, after the M&A activity. After several robustness checks, we firstly document a decrease on average in performance measures after the M&A. Moreover, we found no statistical differences for maturity neither for other stages. These results give rise to questions about the proper conditions for the bidder before engaging in such a firm reorganization and claims for future research on synergy creation and motives for M&As.

773.1.#.t: Contaduría y Administración; Vol. 67, Núm. 1: (2022)

773.1.#.o: http://www.cya.unam.mx/index.php/cya/index

046.#.#.j: 2021-10-20 00:00:00.000000

022.#.#.a: ISSN electrónico: 2448-8410; ISSN impreso: 0186-1042

310.#.#.a: Trimestral

264.#.1.b: Facultad de Contaduría y Administración, UNAM

758.#.#.1: http://www.cya.unam.mx/index.php/cya/index

doi: https://doi.org/10.22201/fca.24488410e.2022.2991

handle: 3a6536723903fb93

harvesting_date: 2021-06-14 11:43:00.0

245.1.0.b: |Is there really synergy creation after m&a? evidence from Brazil under the life cycle approach|

last_modified: 2023-03-22 16:00:00

license_url: https://creativecommons.org/licenses/by/4.0/legalcode.es

license_type: by

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