TITLE

Beginning Consolidation in the Renewable Energy Industry and Bidders' M & A-Success

AUTHOR(S)
Eisenbach, Sebastian; Ettenhuber, Christoph; Schiereck, Dirk; von Flotow, Paschen
PUB. DATE
May 2011
SOURCE
Technology & Investment;May2011, Vol. 2 Issue 2, p81
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
In this paper we examine stock price reactions to mergers and acquisitions in a particular industry, the renewable energy industry. We focus on acquirers and document positive abnormal returns on a sample of 337 completed M & A-transactions announced during 2000 to 2009. We show that acquirer size, market-to-book ratio and deals announced in the recent financial crisis negatively correlate with acquirer returns. Acquirers from outside the renewable industry tend to earn positive abnormal results.
ACCESSION #
65095666

 

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