Social media’s impact on the global M&A market

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dc.contributor.advisor Jayasuriya, D en
dc.contributor.advisor Berkman, H en
dc.contributor.author O'Neill, Ben en
dc.date.accessioned 2018-05-18T02:18:31Z en
dc.date.issued 2018 en
dc.identifier.uri http://hdl.handle.net/2292/37154 en
dc.description Full Text is available to authenticated members of The University of Auckland only. en
dc.description.abstract I test the impact of social media popularity on the global M&A market using a sample of 66,905 M&A transactions spanning 27 years across 46 countries. As a shock to the information environment, I test whether social media has influenced M&A transactions through key deal variables that carry information content: namely, competing bids and proportion of cash paid in the transaction. As preliminary analyses I also test whether the number of bids increased following social media popularity. I find that social media popularity has increased the probability of competing bids by 7.7% across countries and the proportion of cash paid in transactions decreased by 2.5% across countries. However, statistical significance of these results disappear after inclusion of country fixed effects. The results of additional analyses using the introduction of the Internet is consistent with the conclusion that technologies that enhance the transmission of public information do not have an effect on the M&A variables tested. This study is distinct from existing literature due to its globally diverse M&A dataset, unique social media data, and country-level approach to social media’s influence on financial markets. en
dc.publisher ResearchSpace@Auckland en
dc.relation.ispartof Masters Thesis - University of Auckland en
dc.relation.isreferencedby UoA99265119811002091 en
dc.rights Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. en
dc.rights Restricted Item. Full Text is available to authenticated members of The University of Auckland only. en
dc.rights.uri https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm en
dc.title Social media’s impact on the global M&A market en
dc.type Thesis en
thesis.degree.discipline Accounting and Finance en
thesis.degree.grantor The University of Auckland en
thesis.degree.level Masters en
dc.rights.holder Copyright: The author en
pubs.elements-id 740497 en
pubs.record-created-at-source-date 2018-05-18 en


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