Shareholders' valuation of merger/alliance-related events in the Canadian airline industry : 1991 to 1993

Simple item page
dc.contributor.authorAldridge, Derek Williamen_US
dc.date.accessioned2024-08-12T19:30:48Z
dc.date.available2024-08-12T19:30:48Z
dc.date.copyright1995en_US
dc.date.issued1995
dc.degree.departmentDepartment of Economics
dc.degree.levelMaster of Arts M.A.en
dc.description.abstractUsing an event study, we investigate the preferences of investors regarding the merger/alliance possibilities between Air Canada, Canadian Airlines (CAI), and American Airlines over the 1991-1993 period. We conclude that investors in both Canadian firms preferred an alliance between CAI and American to a merger between Air Canada and CAI. This, despite Air Canada management's pursuit of a merger with CAI. However, because Air Canada's shareholders did not strongly support CAI's foreign alliance after the possibility of a domestic merger was eliminated, we cannot conclude that investors preferred a domestic duopoly to a domestic monopoly. We also find strong evidence of agency costs: Air Canada's management did not act in the interests of their shareholders when they pursued a "made in Canada solution" through a merger with CAI.
dc.format.extent105 pages
dc.identifier.urihttps://hdl.handle.net/1828/16967
dc.rightsAvailable to the World Wide Weben_US
dc.titleShareholders' valuation of merger/alliance-related events in the Canadian airline industry : 1991 to 1993en_US
dc.typeThesisen_US

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
ALDRIDGE_Derek_William_MA_1995_683139.pdf
Size:
33.67 MB
Format:
Adobe Portable Document Format
Download

Collections

Electronic Theses and Dissertations (ETD)
 
University of Victoria Libraries

We acknowledge and respect the Lək̓ʷəŋən (Songhees and Esquimalt) Peoples on whose territory the university stands, and the Lək̓ʷəŋən and W̱SÁNEĆ Peoples whose historical relationships with the land continue to this day.