Sectoral Analysis of Mergers and Acquisitions Activity of Newly Public  Firms: The Case of Borsa Istanbul

Uğur ÇELİKYURT

Makale detayları

Sectoral Analysis of Mergers and Acquisitions Activity of Newly Public Firms: The Case of Borsa Istanbul

Yazarlar:

Uğur ÇELİKYURT

Yayıncı:

Politik Ekonomik ve Sosyal Araştırmalar Merkezi

Dergi:

Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi 2016 Vol.4 Issue 2, pp.111-129

Belge Tipi:

Makale

Yayın Tarihi:

3/2016

Belge Dili:

İngilizce

Document ID (Org No.):

2000602390

Sıklık:

İki Yıllık

eISSN:

2147-7035

pISSN:

2147-6071

Özet:

 

This paper studies the mergers and acquisitions  M&As  activity of newly public firms on Borsa Istanbul between 1990-2014 on a sectoral basis. Our analysis of the number of initial public offerings  IPOs  and the amount of their IPO proceeds shows that while a higher number of firms go public in the manufacturing sector, larger firms go public in the financial sector in terms of the proceeds raised in the IPO process. For manufacturing firms that have been involved in an M&A activity, the aggregate deal volume corresponds to 17% of their market size for acquiring IPO firms and 59% of their market size for targeted IPO firms. For financial firms that have been involved in an M&A activity, the aggregate deal volume corresponds to 10% of their market size for acquiring IPO firms and 12% of their market size for targeted IPO firms. Overall, we find that compared to financial firms, manufacturing firms are more active as targets in the post-IPO M&A process within the first five years after their IPOs and similarly active as acquirers.

 

This paper studies the mergers and acquisitions  M&As  activity of newly public firms on Borsa Istanbul between 1990-2014 on a sectoral basis. Our analysis of the number of initial public offerings  IPOs  and the amount of their IPO proceeds shows that while a higher number of firms go public in the manufacturing sector, larger firms go public in the financial sector in terms of the proceeds raised in the IPO process. For manufacturing firms that have been involved in an M&A activity, the aggregate deal volume corresponds to 17% of their market size for acquiring IPO firms and 59% of their market size for targeted IPO firms. For financial firms that have been involved in an M&A activity, the aggregate deal volume corresponds to 10% of their market size for acquiring IPO firms and 12% of their market size for targeted IPO firms. Overall, we find that compared to financial firms, manufacturing firms are more active as targets in the post-IPO M&A process within the first five years after their IPOs and similarly active as acquirers.

Makale detayları

Sectoral Analysis of Mergers and Acquisitions Activity of Newly Public Firms: The Case of Borsa Istanbul

Yazarlar: Uğur ÇELİKYURT

Yayıncı: Politik Ekonomik ve Sosyal Araştırmalar Merkezi

Dergi: Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi 2016 Vol.4 Issue 2, pp.111-129

Belge Tipi: Makale

Yayın Tarihi: 3/2016

Belge Dili: İngilizce

Document ID (Org No.): 2000602390

Sıklık: İki Yıllık

eISSN: 2147-7035

pISSN: 2147-6071

Sayı

Yazarlar:

Uğur ÇELİKYURT

Yayıncı:

Politik Ekonomik ve Sosyal Araştırmalar Merkezi

Dergi:

Siyaset, Ekonomi ve Yönetim Araştırmaları Dergisi 2016 Vol.4 Issue 2, pp.111-129

Belge Tipi:

Makale

Yayın Tarihi:

3/2016

Belge Dili:

İngilizce

Document ID (Org No.):

2000602390

Sıklık:

İki Yıllık

eISSN:

2147-7035

pISSN:

2147-6071