M&A and Market Reaction in the Luxury Industry: A Quantitative Study

This thesis investigates the market reaction to M&A transactions in the luxury goods sector. It begins by examining the concept and scope of luxury, the structure of the industry, its key players, and the strategic profiles that characterize the sector. The analysis then focuses on the specific characteristics of M&A deals, including valuation approaches and key success factors highlighted in the literature. The empirical section relies on a dataset from S&P Capital IQ, complemented with data from Refinitiv and AIDA, and estimates the stock market reaction using Cumulative Abnormal Returns (CAR), alongside additional control variables. The results offer insights into how investors respond to M&A activity in this distinctive industry context.