Library:
Madrid
Berlin
London
Turin
Paris Champerret
Paris Montparnasse
This thesis examines the factors that influence M&A transactions in the luxury market and how they affect value generation.
The purpose of the study topic is to assess the variables that impact luxury M&A deals and how they provide value. To find out if M&A deals benefit target companies and if conglomerates and non-conglomerates have distinct post-transaction returns, two hypotheses are developed.
The analysis is advanced through an event study, a statistical test, and a regression analysis. As a result of the whole analysis, only target firms prove to create value after a merger, while bidders typically show negative returns. Slightly greater performance among conglomerates is shown by further differentiating them from non-conglomerates.
All things considered, this study advances knowledge about the dynamics of M&A deals in the luxury market and emphasizes the significance of taking firm characteristics into account when assessing post-transaction results.
