Sample MBA Dissertation for UK.pdf - Confidentia A STUDY OF...

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- 1 -A STUDY OF RECENT MERGERS AND ACQUISITIONS IN INDIAAND THEIR IMPACT ON THE OPERATING PERFORMANCE ANDSHARHOLDER WEALTHConfidential
- 2 -ABSTRACTThis dissertation is a study on the objectives of mergers and acquisitions, as to whyorganisations undertake the inorganic mode of expansion. However the main focus ison studying the operating performance and shareholder value of acquiring companiesand comparing their performance before and after the merger. To conduct a uniformresearch and arrive at an accurate conclusion, we restrict our research to only Indiancompanies. To get a broader perspective on India, we study 4 sectors namely aviation,banking, steel and oil and gas.We test a hypothesis that mergers improve operating performance of acquiringcompanies. However on studying the cases on the 4 sectors, we conclude that as invarious previous studies, mergers do not improve financial performance at least in theimmediate short term.Confidential
- 3 -TITLE………………………………………………………………………………….…..1ACKNOWLEDGEMENTS…………………………………………………………….…2ABSTRACT…………………………………………………………………………….…3TABLE OF CONTENTS1.INTRODUCTION……………………………………………………………...…71.1 INTRODUCTION……………………………………………………………71.2 LARGE MERGERS AND ACQUISITIONS IN THE WORLD…….............91.2.1LARGE MERGERS AND ACQUISITIONS OF INDIANCOMPANIES……………………………………………………......91.3 MERGER AND ACQUISITION STRATEGY…………………………….101.3.1FIRM DIVERSIFICATION…………………………………..........101.3.2CROSS-BORDER MERGER AND ACQUISITIONS……….........101.4 AIMS AND OBJECTIVES OF THE RESEARCH………………………....111.4.1AIM OF THE RESEARCH…………………………………...........111.4.2OBJECTIVES OF THE RESEARCH……………………………...111.5 HYPOTHESIS OF THE RESEARCH………………………………...........111.6 MOTIVATION OF THE RESEARCH……………………………………..111.7 STRUCTURE OF THE DISSERTATION…………………………............121.8 FURTHER RESEARCH……………………………………………............142.LITERATURE REVIEW………………………………………………..............152.1 DEFINITION………………………………………………………………..152.2 TYPES OF MERGERS & ACQUISITIONS……………………….............162.2.1HORIZONTAL MERGERS……………………………………….162.2.2VERTICAL MERGERS…………………………………………...162.2.3CONGLOMERATE MERGERS……………………………..........172.2.4FINANCIAL ACQUISITIONS……………………………………182.3 MOTIVES FOR MERGERS……………………………………………….182.3.1SYNERGY…………………………………………………………182.3.1.1 OPERATIONAL SYNERGY………………………………….19

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