The Effect of Mergers and Acquisitions on Acquiring Firms’Credit Risk
碩士 === 國立雲林科技大學 === 財務金融系碩士班 === 100 === This paper examines the changes of acquiring firms’ credit risk after merge and acquisitions (M&A). The empirical results suggest an increased default probability of acquiring firms, except for those firms already with extremely high credit risk prior to...
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2012
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| Online Access: | http://ndltd.ncl.edu.tw/handle/17901140031201950277 |
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ndltd-TW-100YUNT53040382015-10-13T21:55:45Z http://ndltd.ncl.edu.tw/handle/17901140031201950277 The Effect of Mergers and Acquisitions on Acquiring Firms’Credit Risk 併購對主併公司信用風險的影響 Rainy Chen 陳瑞伶 碩士 國立雲林科技大學 財務金融系碩士班 100 This paper examines the changes of acquiring firms’ credit risk after merge and acquisitions (M&A). The empirical results suggest an increased default probability of acquiring firms, except for those firms already with extremely high credit risk prior to the M&A. Further analysis shows that corporate governance factors cannot explain the changes in credit risk surrounding M&A. The results imply that the increased default risk could be attributable to the changes of acquiring firms’ financial structure and profitability, rather than the managerial actions to pursue risk for their own interest. Yan Shing Chen 陳彥行 2012 學位論文 ; thesis 54 zh-TW |
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NDLTD |
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zh-TW |
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Others
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NDLTD |
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碩士 === 國立雲林科技大學 === 財務金融系碩士班 === 100 === This paper examines the changes of acquiring firms’ credit risk after merge and acquisitions (M&A). The empirical results suggest an increased default probability of acquiring firms, except for those firms already with extremely high credit risk prior to the M&A. Further analysis shows that corporate governance factors cannot explain the changes in credit risk surrounding M&A. The results imply that the increased default risk could be attributable to the changes of acquiring firms’ financial structure and profitability, rather than the managerial actions to pursue risk for their own interest.
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| author2 |
Yan Shing Chen |
| author_facet |
Yan Shing Chen Rainy Chen 陳瑞伶 |
| author |
Rainy Chen 陳瑞伶 |
| spellingShingle |
Rainy Chen 陳瑞伶 The Effect of Mergers and Acquisitions on Acquiring Firms’Credit Risk |
| author_sort |
Rainy Chen |
| title |
The Effect of Mergers and Acquisitions on Acquiring Firms’Credit Risk |
| title_short |
The Effect of Mergers and Acquisitions on Acquiring Firms’Credit Risk |
| title_full |
The Effect of Mergers and Acquisitions on Acquiring Firms’Credit Risk |
| title_fullStr |
The Effect of Mergers and Acquisitions on Acquiring Firms’Credit Risk |
| title_full_unstemmed |
The Effect of Mergers and Acquisitions on Acquiring Firms’Credit Risk |
| title_sort |
effect of mergers and acquisitions on acquiring firms’credit risk |
| publishDate |
2012 |
| url |
http://ndltd.ncl.edu.tw/handle/17901140031201950277 |
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