A quantitative analysis of value creation in business combinations – in the European utility industry

In this chapter existing theories as well as the findings of prior empirical research on the topic of shareholder value creation in acquisitions and alliances are taken up and considered for the derivation of hypotheses concerning potential determinants of shareholder value creation in business combinations. The analysis of the determinants is performed on the basis of M&A transactions and alliances in the European utility industry; the hypotheses thus will be adjusted to the specifics of this industry.