International mergers as a business expansion strategy by Greek companies: A case study of corporate performance analysis for board of directors
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Sofia Kourtesi 
, Aikaterini Chasiotou , Christos Konstantinidis , Stylianos Kafestidis
This work is licensed under a Creative Commons Attribution 4.0 International License.
Abstract
This research analyzes a specific international merger involving a Greek publicly traded company in the recent post-COVID-19 and post-sovereign debt crisis era in the Greek market. The primary research aim is to assess the corporate performance of a Greek company listed on the Athens Stock Exchange (ASE) after it underwent an international merger in 2019. The research involves an in-depth analysis of the company’s performance post-merger and calculates various financial ratios using accounting data from four years before and after the international merger. The research results revealed that the merger deal has led the examined Greek listed sample company to a better performance in profitability, but not in liquidity and leverage, thus signalizing some mixed results for the international merger transaction.
Keywords: Merger, International Business Strategies, Financial Ratios, Case Study, Greece
Authors’ individual contributions: Conceptualization — S.Kour. and A.C.; Methodology — S.Kour.; Software — A.C. and C.K.; Validation — S.Kour.; Formal Analysis — C.K. and S.Kaf.; Investigation — S.Kaf.; Resources — S.Kour.; Writing — Original Draft — A.C.; Writing — Review & Editing — C.K. and S.Kaf.; Supervision — S.Kour.; Project Administration — S.Kour.
Declaration of conflicting interests: The Authors declare that there is no conflict of interest.
JEL Classification: M1, M4, M37
Received: 07.05.2024
Accepted: 06.09.2024
Published online: 10.09.2024
How to cite this paper: Kourtesi, S., Chasiotou, A., Konstantinidis, C., & Kafestidis, S. (2024). International mergers as a business expansion strategy by Greek companies: A case study of corporate performance analysis for board of directors. Corporate Board: Role, Duties and Composition, 20(2), 102–110. https://doi.org/10.22495/cbv20i2art10
