Quyền kiểm soát công ty mục tiêu và chênh lệch giá trong hoạt động mua lại và sáp nhập tại Việt Nam
DOI:
https://doi.org/10.24311/jabes/2018.29.10.1327Từ khóa:
Kiểm soát công ty, Chênh lệch giá trong M&A, M&A tại Việt NamTóm tắt
Nghiên cứu này là một trong những những nghiên cứu đầu tiên ở Việt Nam đánh giá ảnh hưởng của động lực kiểm soát công ty đến chênh lệch giá trong giao dịch mua lại và sáp nhập (M&A) trên thị trường chứng khoán Việt Nam. Bằng việc sử dụng kết hợp phương pháp đánh giá tác động của một sự kiện và hồi quy bội trên cơ sở dữ liệu M&A tại Việt Nam trong giai đoạn 2007–2016, kết quả nghiên cứu cho thấy rằng hoạt động M&A tại Việt Nam được đặc trưng bởi động cơ chiếm quyền kiểm soát công ty mục tiêu hơn là động cơ đầu tư tài chính. Kết quả này phù hợp với lý thuyết về động lực kiểm soát thay vì lý thuyết về động lực đầu tư tài chính trong hoạt động mua lại doanh nghiệp.
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