Impact of Business Merger on the Firm Performance on the Listed Companies in the Stock Exchange in Thailand
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Published:
Jul 4, 2017
Keywords:
Merger and Acquisition Firm Performance Financial Ratio
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Abstract
The objective of this research is to examine the impact of business merger to the firm performance on the listed companies in the stock exchange in Thailand. The secondary data are from financial statements during the fiscal years of 2010 to 2014 of 290 samples. The statistical techniques used for analyzing the data are 1) descriptive analysis 2) paired sample T-test and 3) multivariate multiple regression analysis. The research discovers the difference between business performance before and after the business merger is not statistically significant. However, when each year is examined, it is found that business merger have significant effect on return on asset with the statistical significant level of 0.05 in 2010 and 2011, but no effect in 2012 and 2013. Meanwhile, in 2014 the business mergers have significant effects on return on asset with the statistical significant level of 0.05.
Article Details
How to Cite
[Jiraporn Saengsai] จ. . แ. (2017). Impact of Business Merger on the Firm Performance on the Listed Companies in the Stock Exchange in Thailand. Journal of Business, Innovation and Sustainability (JBIS), 12(1), 137–149. retrieved from https://so02.tci-thaijo.org/index.php/BECJournal/article/view/58060
Section
บทความวิจัย (Research article)
References
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2. Abdul-Rahman, O. A. and Ayorinde, A. O. (2013). Post-Merge performance of selected Nigerian deposit money banks - An econometric perspective. Master thesis, M.B.A., Department of Management and Accounting, LadokeAkintola University of Technology, Ogbomos. Nigeria.
3. Basanta, K. K. and Sajnani, M. (2014). Mergers and acquisition in aviation industry – India. 4D International Journal of Management and Science, 4(2), 102-116.
4. Chenpraseot, S. (1996). Business takeover behaviours of companies registered in stock exchange of Thailand. Master thesis, M.Econ., Thammasat University, Bangkok.
5. Divyang, P. and Nikita, K. (2013). Comparative study of Pre and Post corporate mergers and acquisitions in India. International Journal of Scientific Research, 2(10), 1-2.
6. Khanthawit, A. (1997). Business mergers and acquisitions. Bangkok: Thammasat Business School.
7. Nuanpradit, S. (2004). Relation between popularity of business acquisition and profit making capability of companies registered in Stock Exchange of Thailand. Master thesis, M.Acc., Chulalongkorn University, Bangkok.
8. Oloyede, J. A. (2012). Investigating the improvement in corporate performance after merger and acquisition in Nigeria: A sectoral analysis. Doctoral dissertation, Ph.D., Faculty of Management Sciences, Ekiti State University, Nigeria.
9. Phuncharoen, L. (2012). Relation between popularity of business acquisition and profit making capability of companies registered in Stock Exchange of Thailand. Master thesis, M.B.A., Rajamangala University of Technology Thanyaburi, PathumThani.
10. Rehana, K. and Irum, S. (2011). Effects of business combination on fianacial performance: evidence from Pakistan’s banking sector. Australian Journal of Business and Management Research, 1(8), 54-64.
11. Rodjanarad, W. (2007). The Relationship between intangible asset with stock quotes and future earning of listed firms in the Stock Exchange of Thailand. Master thesis, M.Acc., Chulalongkorn University, Bangkok.
12. Sandod, J. (2005). The relationship between financial performances and accounting accruals. Master thesis, M.Acc., Chulalongkorn University, Bangkok.
13. Sinha, N., Kaushik, K. P. and Chaudhary, T. (2010). Measuring post-merger and acquisition performance: An investigation of select financial sector organizations in India. International Journal of Economics and Finance, 2(4), 190-200.
14. Stock Exchange of Thailand. (2012). Mergers and acquisitions: Options for success of Thai Businesses. Bangkok: Stock Exchange of Thailand.
15. Suriyachusakoon, S. (2005). The relationship between goodwill with performances and future cash flow of listed firms in the Stock Exchange of Thailand. Master thesis, M.Acc., Chulalongkorn University, Bangkok.
16. Tajalli, F. and Amir, S. (2014). An analysis of impact of merger and acquisition of financial performance of banks: A case of Pakistan. Journal of Poverty, Investment and Development, 5(2014), 29-36.
17. Thanaprakobkan, T. (2002). Study on business mergers in Stock Exchange of Thailand: From 1995 to 1998. Master thesis, M.Econ., Thammasat University, Bangkok.
18. Traipiyawong, S. (2007). The control measure of business combination under competition law. Master thesis, LL.M., Thammasat University, Bangkok.
19. Uraphiphatthanaphong, K., et al. (2006). Business Merger: Opportunities for Thai Businesses. Bangkok: JST Publishing.