It is examined a new issue in the tramp shipping industry, mergers and acquisitions, which has drawn firms into a competition on size, market share and total tonnage. The purpose is to investigate the behaviour of tramp shipping firms' stock returns, when they announce mergers and acquisitions, and how this is portrayed on their stock values. The methodology used is event study analysis and bootstrap. The sample is constituted by member firms of NASDAQ and NYSE. The empirical results indicate the positive impact that announcements of mergers and acquisitions cause in tramp firms' stock returns. The impact of mergers and acquisitions is highly important and plays a key role for firms to follow new challenges in the shipping industry and create higher financial value.


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    Title :

    Impact of mergers and acquisitions on stock returns of tramp shipping firms


    Contributors:


    Publication date :

    2007


    Size :

    17 Seiten, 1 Bild, 4 Tabellen, 26 Quellen




    Type of media :

    Article (Journal)


    Type of material :

    Print


    Language :

    English




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