%0 Book
%A Heiko Schön
%D 2015
%C Berlin, Germany
%I Peter Lang Verlag
%@ 9783653058451
%T Pharma M&A versus alliances and its underlying value drivers
%B Are M&A or alliances the right therapy for an ailing pharmaceutical industry?- A capital market perspective
%R 10.3726/978-3-653-05845-1
%U https://www.peterlang.com/document/1049412
%X From a capital market perspective, the author analyzes Merger and Acquisitions transactions (M&A) and in-licensings in the pharmaceutical industry between 1998 and 2012. Utilizing the event study methodology, the volume shows that M&A experiences significant, negative cumulative average abnormal returns whereas in-licensings are able to create value. But what are the underlying value drivers which make a deal a success or a failure story? The author derives significant innovative determinants of success for both strategies.
%K Mergers and Acquisitions, Success factors, Value creation
%G English