TY - JOUR AU - Nazarova, Varvara PY - 2018/08/07 Y2 - 2024/03/28 TI - Analysis of the Effectiveness of Healthcare M&A Transactions in Developed Countries JF - Panoeconomicus JA - Panoeconomicus VL - 68 IS - 3 SE - Original scientific paper DO - 10.2298/PAN180203021N UR - https://panoeconomicus.org/index.php/jorunal/article/view/599 SP - 375-396 AB - <p>The healthcare industry is a large and fast-growing segment of the corporate world, especially in developed countries. In the face of growing competition, healthcare companies inevitably resort to mergers and acquisitions (M&amp;As) in order to accelerate their development. The objective of this study is to identify the creation of additional value for M&amp;A deal participants in the healthcare industry in the United States and the European Union in 2008–2017. In this paper, we propose the following thesis statement: can healthcare companies expect excess returns from M&amp;A deals? On average, M&amp;A deals in the healthcare industry in developed countries create positive abnormal returns for acquiring companies and are efficient; a positive, significant impact on abnormal returns was found in the deal value of M&amp;A deals, a negative significant impact was observed for deals conducted with the shares payment method and for acquiring companies with a larger number of employees.&nbsp;<br><br><strong>Key words: </strong>Merger and acquisition transactions, Strategy effectiveness, Average excess returns, Healthcare companies, Developed countries.&nbsp;<br><br><strong>JEL:</strong> G30, L1.</p><div id="undefined">&nbsp;</div> ER -