Equity and Debt Impacts on Overseas M&A Performance in the Transportation Sector

Abstract

The performance of overseas mergers and acquisitions (M&A) by listed companies in the transportation industry was assessed using the factor analysis method. Subsequently, an empirical analysis was conducted employing multiple regression to examine the determinants influencing the M&A performance of these companies. The findings indicate that a higher concentration of equity and a higher long-term debt ratio both significantly enhance the performance of overseas M&As for listed companies in the transportation sector.