1. DEBI PRASAD SATAPATHY - Assistant Professor, Centurion University of Technology and Management, India.
2. S. R MOHAPATRA - Dean, Biju Patnaik University of Technology, Rourkela, India.
The paper has empirically investigated the long-term market performance of the acquiring companies in the Indian context with a sample of 383 acquiring firms from the period 2004-2014. The long-term market performance of the acquiring companies has been analyzed by using namely the ‘Buy-and-hold-abnormal-return’ (BHAR) methodology. The Buy-and-hold-abnormal return (BHAR) has been calculated by using both the market index and the matching firm approach. The traditional t-statistics and skewness adjusted t-statistics have been used to evaluate the significance of long-run abnormal returns.
Market Performance, BHAR, Matching firm. Acquiring firms.