Merger decisions, their characteristics, and accounting performance: evidence from merging and non-merging HEIs in a small European country
研究了希腊近年合并的高等教育机构绩效，发现未合并的机构表现更好，且地理位置和校区数量是重要影响因素。
This study examines the performance and various characteristics of higher education institutions (HEIs) that have merged in Greece in recent years and to what extent they have led to improved performance due to synergies, and it also compares them with the performance of Greek HEIs that have not been involved in mergers, as a measure of comparison. More specifically, using multivariate statistical analysis, it examines the funding they receive as an extraordinary state grant depending on the performance of each HEI, whether it has merged in the recent past or not, with qualitative variables: the geographical area to which each HEI administratively belongs; whether it operates on one or multiple campuses; and the number and in how many cities the HEI campuses operate. The results showed higher performance for higher education institutions that did not merge. In addition, an important factor that influenced the performance of the institutions under consideration was the location of their activities and the number of campuses with which each HEI operates. The present study, by examining the aforementioned qualitative variables through a specific methodology, using a control sample and analysis at the national level in addition to the sample, serves as a first attempt at multivariate analysis of accounting data with these characteristics and constitutes a useful element for further research and discussions on the topic of HEI mergers.