Location Strategies and Value Creation of International Mergers and Acquisitions

This work attempts to enrich both areas of research in finance and international management to analyze the choice of location and value creation in mergers and acquisitions. Our research aims to answer the following question: What are the determinants of the location and value creation in mergers and acquisitions?

Our research is guided by two objectives. First, we study the influences of country specifics of the target on the decision of the acquirer to undertake operations in mature and emerging countries. The second objective concerns the identification of the determinants of value creation in mergers and acquisitions.

The book is structured in three parts, a literature review, a description of the research methodology and empirical study, and the analysis and discussion of results. The first part aims to establish a synthesis of the literature on mergers and acquisitions and to build the research model. The second part presents the methodological choices made and the database that we have built. In the third part, the results of the empirical study are analyzed and discussed. Finally, the general conclusion returns to the interest of our research and summarizes the main results achieved by linking the contributions reported previously.