Are blockchain and cryptocurrency M&As harder to close?

Akdoğu, Evrim and Şimşir, Şerif Aziz (2023) Are blockchain and cryptocurrency M&As harder to close? Finance Research Letters, 52 . ISSN 1544-6123 (Print) 1544-6131 (Online)

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We investigate whether distinctive features of the blockchain/cryptocurrency industry led to different completion rates of the announced mergers and acquisitions (M&As), relative to other industries, during the years 2013–2022. Despite having a significantly lower deal closure rate on average, we find that this effect is contained only in a few years and does not span the entire decade. We also find that bitcoin prices are an important determinant of the industry's deal completion rate. Our findings may help give a glimpse into the eventual fate of the most recent deals announced during the crypto crash that started in early 2022.
Item Type: Article
Uncontrolled Keywords: Blockchain; Cryptocurrency; Deal completion; Mergers & acquisitions
Divisions: Sabancı Business School
Depositing User: Evrim Akdoğu
Date Deposited: 13 Apr 2023 15:56
Last Modified: 13 Apr 2023 15:56

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