| dc.description.abstract | This thesis aims to examine the effect of cross-border M&A transactions in the EU /EFTA.
First, we find no cumulative abnormal return (CAR) differences between domestic and
foreign acquirers. However, we discover a significant difference in CAR of 2,10% between
cross-border and local targets. The premium is mainly driven by three factors: Western
European targets, especially the UK and Belgium, perform considerably better than their
local peers. Next, the two industries, Materials, and Telecom, perform remarkably well.
Lastly, the relative size of the deal seems to give a stronger signal effect for cross-border
targets compared to their local counterparts, which results in a higher CAR. | en_US |
