| Abstract [eng] |
In today‘s business world mergers and acquisitions takes on an important role in helping companies to make the best strategical and tactical planning, furthermore over the last several decades the number of companies mergers and acquisitions in the whole world has grown. The most common and the most crucial reason for mergers and acquisitions is synergy, it is the most thoroughly researched by scientists. As a consequence of the synergy effect, companies may feel a positive impact on their financial performance. Despite of that, researchers do not agree on the effect of mergers and acquisitions on financial performance. Oleyede and Adedamola (2012) states that mergers in the manufacturing sector, does not have any significant impact on the financial indicators. Additionally, Kalra (2013) states that there is a considerable effect on liquidity, profitability, financial performance and financial leverage indicators only for several merged or acquired companies. The results of the various researches are diverse, therefore there is a lack of thorough research. Results mostly depends on the sector of researched companies, different world countries, their development level and economic conditions. As well as many other variables, which may distort the results. Furthermore, in academic literature there is a tendency towards analysis of mergers and acquisitions from India and USA region. That leads to a demand for more in depth analysis of merger and acquisitions within the European countries. |
