Preview

Avtomobil'. Doroga. Infrastruktura.

Advanced search

THE MARKET OF MERGERS AND ACQUISITIONS IN TIMES OF ECONOMIC UNCERTAINTY

Abstract

Integration processes in the economy and trends in capital consolidation that arise during the creation of new companies and the development of the market for mergers and acquisitions (M&A) are considered. The mechanism of combining companies is investigated, the peculiarities of conducting mergers and acquisitions in conditions of economic uncertainty are revealed. Seven waves of M&A are identified, the causes of their occurrence and decline, and the dynamics of the development of the global and Russian m & a markets are analyzed. Prospects and directions of further development of the Russian market of mergers and acquisitions are defined. The logical result of the study was the conclusion about the need for integration interaction of companies to ensure their economic stability and competitiveness.

About the Authors

Vera V. Beznovskaya
MADI
Russian Federation
associated professor


Nadezhda V. Kovalenko
MADI
Russian Federation
PhD in economics, associate professor


References

1. Tihomirov D.V. Evaluation of companies’ value at mergers and acquisitions: textbook. Saint-Petersburg: Publishing House SPbGUJeF, 2009. 132 p. (In Russ.).

2. Ivashkovskaja I.V., Grigor’eva S.A., Kokoreva M.S., Stepanova A.N. et al. Corporate financial decisions. Empirical analysis of Russian companies (corporate financial decisions at developing capital markets): monography. Moscow: INFRA-M, 2016. 281 p. (In Russ.).

3. Rid S.F., Lajoux A.R., Nesvold H.P. [The Art of M&: A Merger Acquisition Buyout Guide. 4th edition. New York: McGraw-Hill, 2007. 1082 p.] Rus. ed.: Iskusstvo sliyanii i pogloshchenii, 4th ed., Moscow: Alpina Publishers, 2009. 957 p.

4. Jevans F., Bishop D. [Companies Evaluation at Mergers and Acquisitions: Value Creation in Private Companies. New York: John Wiley & Sons, Inc., 2002. 312 p.]. Rus. ed. Otsenka kompanii pri sliyaniyakh i pogloshcheniyakh: sozdanie stoimosti v chastnykh kompaniyakh, Moscow: Alpina Publishers, 2009. 332 p.

5. Harding D., Rouvit S. [Mastering the merger]. Iskusstvo sliyanij i pogloshchenij: chetyre klyuchevyh resheniya, ot kotoryh zavisit uspekh sdelki, 2007. 253 p.

6. URL: http://mergers.ru/researches/

7. Kovalenko N.V., Beznovskaja V.V. Materialy Mezhdunarodnoj nauchno-prakticheskoj konferencii "Aktual'nye problemy v sovremennoj nauke i puti ih resheniya", Moscow, 2017, pp. 138–142.


Review

Views: 296


ISSN 2409-7217 (Online)