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The primary goal of this study was to determine the impact of mergers and acquisitions (M&A) and the environmental, social, and governance (ESG) sustainability scores of companies. In this regard, efforts to measure and analyze the evolution of a company’s performance, taking into account financial and non-financial measures using a score function, are adapted to the pharmaceutical sector. The sample consisted of 100 leading pharmaceutical companies, ranked by stock market capitalization, who registered 30% (n = 492) of the total M&A transactions over the study period (2010–2020). There was a direct and positive link between the M&A process and the evolution of company performance. The ESG score, as an indicator for measuring sustainability, has a positive and direct impact on company performance, indicating that a high ESG score determines an increase in company performance. A similar impact is identified for companies involved in M&A processes, meaning that companies in the pharmaceutical sector tend to register a performance improvement.
Diana Mihaiu; Radu-Alexandru Șerban; Alin Opreana; Mihai Țichindelean; Vasile Brătian; Liliana Barbu. The Impact of Mergers and Acquisitions and Sustainability on Company Performance in the Pharmaceutical Sector. Sustainability 2021, 13, 6525 .
AMA StyleDiana Mihaiu, Radu-Alexandru Șerban, Alin Opreana, Mihai Țichindelean, Vasile Brătian, Liliana Barbu. The Impact of Mergers and Acquisitions and Sustainability on Company Performance in the Pharmaceutical Sector. Sustainability. 2021; 13 (12):6525.
Chicago/Turabian StyleDiana Mihaiu; Radu-Alexandru Șerban; Alin Opreana; Mihai Țichindelean; Vasile Brătian; Liliana Barbu. 2021. "The Impact of Mergers and Acquisitions and Sustainability on Company Performance in the Pharmaceutical Sector." Sustainability 13, no. 12: 6525.