Mergers and Acquisitions in the Manufacturing Industry: an econometric analysis of publicly traded companies

Abstract

The main objective of this study was to investigate the determinants of Merger and Acquisition (M&A) operations in the Manufacturing Industry, from the perspective of the acquiring companies. The nature of the study is quantitative and the verification of the determinants of M&A happened through a logistic regression model. The period of analysis of this work covers the years from 2001 to 2011. Among the several characteristics of the companies studied, it was possible to identify some that confirmed the determinants of M&A processes. It can be said that based on the results that the characteristics of the company that are determinants of M&A operations are the operational efficiency, profitability, return to the shareholder and the size of the company. It was concluded that the results of this work are relevant, since it was possible to identify some determinant factors of M&A.