Mergers and Acquisitions, M&A

This research paper examines the impact of Thai mergers and acquisitions on the performance of the Thai Banking Sector during the period of 2000-2020. I have conducted this research with the use of Event Study Methodology and have used Market Model. I studied the sample of 11 banks that have M&A activities throughout the period. I decided to study Event Windows of (-30,+30) which is 30 days before and after the announcement of a merger and acquisition day. I find that ten days prior to the announcement of a merger and acquisition, shareholders receive considerable and significant positive cumulative average abnormal returns (CAARs). The overall result has indicated that mergers and acquisitions of banks in Thailand have not created impact on wealth.

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