n Investment Analysts Journal - The value creation effects of mergers and acquisitions : evidence from the JSE Securities Exchange South Africa

Volume 2004, Issue 59
  • ISSN : 1029-3523
  • E-ISSN: 2077-0227
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The aggregate gains from mergers and acquisitions (M&As) and the distribution thereof continues to attract the interest of finance researchers. The South African research on M&As is limited, constrained by small samples and tends to focus more on the short-term price reaction. It places too much faith on the rationality paradigm, the notions and implications of market efficiency, contains no methodological innovations and at best involved replications.

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