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Year 2017, Volume: 7 Issue: 1, 78 - 89, 01.03.2017

Guendalina Capece Francesca Di Pillo Nathan Levialdi Giada Perotto

Abstract

Understanding How the Strategic Similarities between Energy Companies Influence the Post-mergers and Acquisitions Performances

Year 2017, Volume: 7 Issue: 1, 78 - 89, 01.03.2017

Guendalina Capece Francesca Di Pillo Nathan Levialdi Giada Perotto

Abstract

The energy sector has experienced rapid evolution in recent years, following the liberalization of the electricity and natural gas markets, driven by the European Union. These developments have led to a certain level of dynamism in Italy, particularly as concerns mergers and acquisitions (M&As) within the sector. This article examines the influence of strategic similarities between the target and bidder companies on their post-M&A performances. The model used involves a hierarchical regression relating the indexes of similarity between the merging companies, regarding their economic-financial management. The results reveal the influence of the strategic similarities and differences on the post-M&A performances of the companies, showing how the positive or negative effect depends on certain characteristics, such as their structure of share capital, business segments and size. The study evidences the strategic variables that should be considered in choosing the optimal target companies

Keywords

Liberalization of energy sectors M&As Company performance evaluation Strategic similarity index Target company’s characteristics

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Details

Other ID JA76HM54MC
Journal Section Research Article
Authors

Guendalina Capece This is me

Francesca Di Pillo This is me

Nathan Levialdi This is me

Giada Perotto This is me

Publication Date March 1, 2017
Published in Issue Year 2017 Volume: 7 Issue: 1

Cite

APA Capece, G., Pillo, F. D., Levialdi, N., Perotto, G. (2017). Understanding How the Strategic Similarities between Energy Companies Influence the Post-mergers and Acquisitions Performances. International Journal of Energy Economics and Policy, 7(1), 78-89.
AMA Capece G, Pillo FD, Levialdi N, Perotto G. Understanding How the Strategic Similarities between Energy Companies Influence the Post-mergers and Acquisitions Performances. IJEEP. March 2017;7(1):78-89.
Chicago Capece, Guendalina, Francesca Di Pillo, Nathan Levialdi, and Giada Perotto. “Understanding How the Strategic Similarities Between Energy Companies Influence the Post-Mergers and Acquisitions Performances”. International Journal of Energy Economics and Policy 7, no. 1 (March 2017): 78-89.
EndNote Capece G, Pillo FD, Levialdi N, Perotto G (March 1, 2017) Understanding How the Strategic Similarities between Energy Companies Influence the Post-mergers and Acquisitions Performances. International Journal of Energy Economics and Policy 7 1 78–89.
IEEE G. Capece, F. D. Pillo, N. Levialdi, and G. Perotto, “Understanding How the Strategic Similarities between Energy Companies Influence the Post-mergers and Acquisitions Performances”, IJEEP, vol. 7, no. 1, pp. 78–89, 2017.
ISNAD Capece, Guendalina et al. “Understanding How the Strategic Similarities Between Energy Companies Influence the Post-Mergers and Acquisitions Performances”. International Journal of Energy Economics and Policy 7/1 (March 2017), 78-89.
JAMA Capece G, Pillo FD, Levialdi N, Perotto G. Understanding How the Strategic Similarities between Energy Companies Influence the Post-mergers and Acquisitions Performances. IJEEP. 2017;7:78–89.
MLA Capece, Guendalina et al. “Understanding How the Strategic Similarities Between Energy Companies Influence the Post-Mergers and Acquisitions Performances”. International Journal of Energy Economics and Policy, vol. 7, no. 1, 2017, pp. 78-89.
Vancouver Capece G, Pillo FD, Levialdi N, Perotto G. Understanding How the Strategic Similarities between Energy Companies Influence the Post-mergers and Acquisitions Performances. IJEEP. 2017;7(1):78-89.