Determinants of Short-Term Value Creation through M&A for the Acquirer -The event study of the pharmaceutical industry focus on the Western European market
Purpose: The first objective is to find whether M&A create value for pharmaceutical acquiring companies in the Western European market from a short-term perspective. Then we aim to examine the determinants of value creation for the pharmaceutical acquirer in the Western European market. Methodology: The event study is conducted to examine cumulative abnormal return for acquiring firms surroun