Electoral opportunism and fiscal policy before and after the EMU

A Masters Thesis, presented as part of the requirements for the award of a Research Masters Degree in Economics from NOVA – School of Business and Economics

L'Oreal acquisition policy: The Body Shop case study

The Work Project I present focuses on the analysis of L’Oréal acquisition policy, trying to outline if the M&A deals it has led over the last 14 years have succeeded in creating value. By replicating the model proposed by Todd Hazelkorn, Marc Zenner and Anil Shivdasani in their paper “Creating Value with Mergers and Acquisitions”, I analyzed the 29 M&A deals that L’Oréal has led worldwide, understanding the common factors able to explain the success of such transactions. Further, I focused on The Body Shop case study, a highly criticized and controversial acquisition that has proved to be profitable and able to create value.