The impact of firm-specific financial factors on cross-border M&A: Assessing the likelihood and transaction size in changing market environments

Sammanfattning: IThis study aims at proving the impact of firm-specific financial determinants on the likelihood of cross-border M&A and their impact on the relative size of transactions, both against the background of changing market conditions. In conclusion, we find our first hypothesis, that the strength of single firm-specific financial factors increases the likelihood of firm’s to undertake cross-border M&A, to be confirmed. Altered financial market conditions indeed impact which factors are determining this propensity. In addition, we find our second hypothesis, that the strength of single firm-specific financial factors increases the relative transaction size of cross-border M&A, to be confirmed. Altered financial market conditions strongly impact which factors are determining the size.