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|Title||Digital Mergers & Acquisitions: Characteristics and Performance|
|Institution||University of Zurich|
|Faculty||Faculty of Business, Economics and Informatics|
|Number of Pages||134|
|Abstract Text||Enhancing technological capabilities has become integral to a company’s international competitiveness, leading to mergers and acquisitions to access external knowledge of digital technologies. Using the event study method, the post-acquisition performance of acquirers involved in digital mergers and acquisitions in Germany, Switzerland, and Austria compared to the UK is analyzed. The findings suggest that short-term average abnormal returns are significantly positive, while long-term average abnormal returns are significantly negative. Additionally, various performance determinants are considered to evaluate investor reactions to deal announcements. The thesis contributes to the academic knowledge of European digital mergers and acquisitions performance.|