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Value creation in M&As: does acquirer’s reputation matter?

Ludivine Chalençon
  • Fonction : Auteur
  • PersonId : 924240
Olivier Lamotte
Ulrike Mayrhofer
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  • PersonId : 1036242


This article investigates the effects of reputation on the value created by mergers and acquisitions (M&As). Building on the resource-based view, we study the impact of the acquirer’s reputation on financial market reactions to M&A announcements. The empirical study is based on a sample of 187 M&As involving French multinationals of the CAC 40 index. The statistical analysis shows that reputation has a significant, positive influence on M&A value-creation. Our study contributes to the academic literature analyzing the role of intangible assets in firm performance. It also contributes to the M&A literature by highlighting the positive impact of reputation on the financial evaluation of M&A operations.
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Dates et versions

hal-01242630 , version 1 (13-12-2015)


  • HAL Id : hal-01242630 , version 1


Ludivine Chalençon, Ana Colovic, Olivier Lamotte, Ulrike Mayrhofer. Value creation in M&As: does acquirer’s reputation matter?. 41st Annual EIBA (European International Business Academy) Conference, Pontifical Catholic University of Rio de Janeiro, Dec 2015, Rio de Janeiro, Brazil. ⟨hal-01242630⟩
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