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Mergers, takeovers and corporate governance


Project Description

Project reference number: GSBS-2019-114

Project description:
There has been a plethora of research that has examined the effects of mergers and acquisitions on shareholder wealth. Empirical studies have examined both the short term and long-term effect of mergers on shareholder wealth. The stylised fact that has emerged from these studies suggest that shareholders of target firms earn positive returns and shareholders of acquiring firms earn negative returns following the merger announcement. The long run post-merger performance is reported to be negative by the majority of the studies. Effective corporate governance can act as a moderating factor in the post-merger performance. However, the impact of effective corporate governance on post-merger performance is under-researched and requires further investigation. Corporate governance regimes differ along a variety of dimensions: ownership, finance, corporate law, boardroom practices, management pay and role of employees. The successful applicant would be expected to undertake a multi-country research on the effect of corporate governance practices on post-merger firm performance.

The project

The applicant should have postgraduate degree in finance or related subjects.

Informal enquiries can be made to Dr. Sanjukta Brahma () with a copy of your CV and cover letter.

Supervisor Research Profiles


Director of Studies: Dr. Sanjukta Brahma
GCU Research Online URL:
http://researchonline.gcu.ac.uk/portal/en/persons/sanjukta-brahma(dfcbb251-6ba0-4f99-bf9c-dc5d54246e15).html

2nd Supervisor: Dr. Chioma Nwafor
GCU Research Online URL:
http://researchonline.gcu.ac.uk/portal/en/persons/chioma-nwafor(14a4e6f6-f69d-4057-ba83-0fd6967bc433)/publications.html

How to Apply


This project is available as a 3 years full-time PhD study programme with expected start date of 1 October 2019

Applicants will normally hold a UK honours degree 2:1 (or equivalent); or a Masters degree in a subject relevant to the research project. Equivalent professional qualifications and any appropriate research experience may be considered. A minimum English language level of IELTS score of 6.5 (or equivalent) with no element below 6.0 is required. Some research disciplines may require higher levels.

Candidates are encouraged to contact the research supervisors for the project before applying.

To apply for this project, use the following link to access the online application form, as well as further information on how to apply: https://www.gcu.ac.uk/research/postgraduateresearchstudy/applicationprocess/.

Applicants shortlisted for the PhD project will be contacted for an interview within four weeks from the closing date.

Please send any other enquires regarding your application to:

Funding Notes

Exceptional candidates will be put forward for the scholarship competition. The Scholarship packages available include fully funded studentships and fees only scholarships. The fully funded studentships are worth £19,300 per year for 3 years, subject to satisfactory progress. They cover payment of tuition fees at the UK/EU rate and an annual stipend of £14,800.

For further details on funding see View Website

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