Show Less

M&A Activity, Divestitures and Initial Public Offerings in the Fashion Industry


Steffen Meinshausen

This thesis analyzes four individual corporate finance-related research objectives on the fashion and leather accessories industry. The first two studies investigate the share price reactions of strategic bidder M&A transactions and their key drivers. The third study analyzes the implications of a missed disposal opportunity in the luxury fashion segment. Finally, the fourth study illustrates the long-term performance and changes in systematic risk exposure of initial public offerings in the fashion industry. The thesis contains a variety of empirical findings that are novel to the existing literary base of corporate finance research. It shows the various drivers of consolidation in a highly-dynamic and heterogeneous industry segment over the course of the last two decades.


Show Summary Details
Restricted access



Abernathy, F. H., Dunlop, J. T., Hammond, J. H., Weil, D., Bresnahan, T. F., & Pashigian, B. P. (1995). The Information-Integrated Channel: A Study of The U.S. Apparel Industry in Transition. Brookings Papers on Economic Activity. Microeconomics, 1995 (1), 175-246. Aggarwal, R., & Kyaw, N. A. (2010). Capital Structure, Dividend Policy, and Multinationality: Theory versus Empirical Evidence. International Review of Financial Analysis, 19 (2), 140-150. Agrawal, A., Jaffe, J. F., & Mandelker, G. N. (1992). The Post Merger Performance of Acquiring Firms. The Journal of Finance, 47 (4), 1605- 1621. Ahnefeld, M., Keisers, M., & Schiereck, D. (2006). Wertgenerierung durch M&A-Transaktionen in der internationalen Wasserwirtschaft. Die Unternehmung, 60 (6), 427-442. Allais, M. (1953). Le Comportement de l'Homme Rationnel devant le Risque: Critique des Postulats et Axiomes de l'Ecole Americaine. Econometrica, 21 (4), 503-546. Andrade, G., Mitchell, M., & Stafford, E. (2001). New Evidence and Perspectives on Mergers. The Journal of Economic Perspectives, 15 (2), 103-120. Ang, J. S., & Boyer, C. (2009). Has the 1987 Crash Changed the Psyche of the Stock Market? The Evidence from Initial Public Offerings. Review of Accounting and Finance, 8 (2), 138-154. Angelidis, T., & Andrikopoulos, A. (2010). Idiosyncratic Risk, Returns and Liquidity in the London Stock Exchange: A Spillover Approach. International Review of Financial Analysis, 19 (3), 214-221. Asquith, P., Bruner, R., & Mullins, D. (1983). The Gains to Bidding Firms from Merger. Journal of Financial Economics, 11 (1-4), 121-133. Baker, M., & Wurgler, J. (2007). Investor Sentiment in the Stock Market. The Journal of Economic Perspectives, 21 (2), 129-151. Barber, B....

You are not authenticated to view the full text of this chapter or article.

This site requires a subscription or purchase to access the full text of books or journals.

Do you have any questions? Contact us.

Or login to access all content.