Since its onset, the global financial crisis has had a significant impact on the M&A market. The conditions under which M&A transactions are implemented have changed considerably, from both an institutional and an economic point of view. Currently, it seems to be completely unpredictable how the M&A market will develop in the medium and long-term, which players will return to their former strength or gain new importance, how M&A transactions will be sustainably financed and in how far market participants will have to follow new governance structures. Thus, the suggested project aims at executing comprehensive analyses on various aspects of M&A activity in the light of the crisis. This will contribute to a better understanding of the processes and developments in the M&A market. In addition, scenarios for the future development of the M&A market will be generated. The results will be presented in the report on the ZEW-ZEPHYR M&A-Index as well as in the M&A report, which is published biannually.

Project duration

01.08.2009 - 30.04.2011


Dr. Vigen Nikogosian

Project members

Dr. Vigen Nikogosian
Dr. Patrick Beschorner
Dr. Mariela Borell
Prof. Dr. Christoph Grimpe
Matthias Köhler
Prof. Dr. Tereza Tykvova