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Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | Sources of value creation and destruction in Swiss cross-border transactions in the view of different motives |
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| Institution | University of Zurich |
| Faculty | Faculty of Economics, Business Administration and Information Technology |
| Number of Pages | 38 |
| Date | 2015 |
| Abstract Text | This thesis investigates the motives of Swiss acquirers to engage in cross-border transactions and the sources of gains and losses of these transactions in the light of different motives. The empirical results show that the primary motive of Swiss acquirers is synergy in takeovers with positive total gains, whereas agency is the main motive in transactions with negative total gains. Furthermore, the coexistence of different sources of gains is proved. The analysis provides evidence for reverse internalization and assets sharing as sources of gains in synergetic transactions, but no evidence is provided for sources of losses. |
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