Kousiota, Artemis

2020-06-12T00:00:39Z

https://repository.ihu.edu.gr//xmlui/handle/11544/29559

Internal Auditors

Shareholders Value Creation

masterThesis

free

School of Economics, Business Administration and Legal Studies, MSc in International Accounting, Auditing and Financial Management

The complex corporate environment and the large volumes of transactions are some of the reasons that render Internal Auditing a function vital to contemporary companies. Additionally, even though M&As provide various motives, evidence from the entire world has shown that most of the time they fail to create shareholders’ value. Despite that Internal Auditors’ involvement can have a positive impact during the M&A outcome, studies revealed that there are low levels of involvement. On the one hand, this study wishes to examine the role of Internal Auditors in Greek listed companies in the Athens Stock Exchange that proceed to the M&A process from 2015 to 2017. On the other hand, given M&As’ failure, it is also investigated whether companies’ create shareholders’ value the first year after the process realized. For these be tested, the questionnaire was sent to Internal Auditors of the sample companies and Economic Value Added, Cash Dividend Paid and D/E ratio have been applied as some of the shareholders’ value creation determinants. Finally, the study provided mixed results regarding both the questions.

Koutoupis, Andreas

Sikalidis, Alexandros

ihu