Do international mergers and acquisitions create value?

International audienceThis paper aims to identify the determinants of value creation in mergers and acquisitions. Companies initiate mergers and acquisitions to accelerate their development, and market globalization has motivated them to pay more attention to the location of their activities. We focus specifically on the characteristics of acquirers. Our empirical study is based on a sample of 369 transactions that were executed between 2010 and 2012 by acquirers who are constituents of the SBF 120 index