CROSS-BORDER MERGERS AND ACQUISITIONS AS EFFICIENT MANAGENT TOOL OF CAPITAL ALLOCATION WITHIN EUROPEAN AREA
Journal Title: Polish Journal of Management Studies - Year 2017, Vol 16, Issue 1
Abstract
Liberalization of international capital movements, new investment incentives and economic integration has promoted the rapid increase and spread of cross-border mergers and acquisitions in recent years. The aim of contribution is to analyze the relationships between volume of M&As in selected countries of the European area and in Turkey and their three determinants using linear quantile regression model. We identify some of the main forces driving M&As, using a unique database on bilateral cross-border M&As at sectoral level in manufacturing and services over the period 1998-2012. Our empirical results suggest that stock market developments, profitability and trade integration are important drivers of M&As (as efficient cross-country allocation of capital) regardless of their nature.<br/><br/>
Authors and Affiliations
Eva Litavcová, Jaroslava Hečková, Alexandra Chapčáková
Keywords
Related Articles
- EP ID EP247939
- DOI 10.17512/pjms.2017.16.1.08
- Views 115
- Downloads 0
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