OeNB-Freitagsseminar with Katharina Bergant

Diesen Termin in meinem Kalender speichern

Cross-border Spillovers: How US Financial Conditions affect M&As Around the World

OeNB Freitagsseminar with Katharina Bergant, IMF

We find that financial conditions in the core have significant spillover effects on cross-border mergers and acquisitions. On average, a 1 percentage point easing of the US Financial Conditions Index is associated with approximately a 10% higher volume of cross-border mergers and acquisitions. This effect is driven by firms with more liabilities denominated in foreign currency (or in US dollars). Deals that happen when financial conditions in the US are tighter (and therefore acquisitions fewer) add more value for the acquirers, as reflected in higher acquirer excess stock returns around the announcement.

Date
Friday, November 15, 2024 | Start: 11:00 AM | End: 12:30 PM              

Venue 
The event is planned both, online via Webex and onsite at the Oesterreichische Nationalbank, Otto-Wagner-Platz 3, 1090 Vienna, Veranstaltungssaal, Ground Floor.

Please register by November 13, 2024, at the latest.

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