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Mergers and Accounting Performance: Some Evidence from Greece during the Economic Crisis

Author

Listed:
  • Michail Pazarskis

    (T.E.I. of Central Macedonia, Greece)

  • George Drogalas

    (University of Macedonia, Greece)

  • Andreas Koutoupis

    (T.E.I. of Thessaly, Greece)

Abstract

The study examines the impact of mergers on the accounting performance of merger-involved firms in Greece. The study analyses four basic profitability ratios from financial statements of a sample of sixty Greek listed firms at the Athens Exchange that executed as acquirers’ one merger in the period a ten-year-period (2005-2014). In order to measure firms’ accounting performance, comparisons of pre- and post-merger firm profitability are examined for one year before and after the merger events (with data analysis from 2004 to 2015). The results revealed that mergers have had a negative impact on profitability and, in general, on accounting performance of the merger-involved firms. Furthermore, the study investigates the impact of the economic crisis on the success of mergers in Greece. There is evidence there is also a negative effect on accounting performance after mergers during the period of the economic crisis in Greece.

Suggested Citation

  • Michail Pazarskis & George Drogalas & Andreas Koutoupis, 2018. "Mergers and Accounting Performance: Some Evidence from Greece during the Economic Crisis," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 17(1), pages 31-45, March.
    • Handle: RePEc:ami:journl:v:17:y:2018:i:1:p:31-45
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    Citations

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    Cited by:

    1. Loloah Mohammad Alselem, 2021. "The Impact of Acquisitions on the Financial Performance of Companies in the Gulf States," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 13(9), pages 103-103, August.
    2. Constantin Duguleana & Liliana Duguleana & Camelia Mirela Baba & Cristina Drumea, 2022. "Recovery after Demerger: Evidence from Romanian Companies," Sustainability, MDPI, vol. 14(3), pages 1-27, January.

    More about this item

    Keywords

    mergers; accounting performance; financial ratios; economic crisis;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General

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