Determinants of Mergers and Acquisitions in Indian Pharmaceutical Industry
Journal Title: Eurasian Journal of Business and Economics - Year 2012, Vol 5, Issue 9
Abstract
M&A turned out to be significant form of corporate restructuring in post globalization period in Indian industries. The phenomenon is considered to be the most important strategy for gaining competitive advantage for firms. This study attempts to find out the determinants of M&A in Indian pharmaceutical industry. We use the PROWESS database provided by the Center for Monitoring Indian Economy for the period of 2001-2010. The results of the Logit analysis suggests that large and multinational affiliated firms are investing more in M&A activities. Similarly, firms reporting excess capacity and high R&D investments are relying heavily on M&A to restructure and consolidate their position in the industry
Authors and Affiliations
Vidhisha VYAS, Krishnan NARAYANAN, A. RAMANATHAN A. RAMANATHAN
Keywords
Related Articles
- EP ID EP442126
- DOI -
- Views 126
- Downloads 0
Does the Indian Economy Support Wagner’s Law? An Econometric Analysis
The present study endeavors to examine the validity of Wagner’s Law in India over the period 1950/51 to 2007/08. Six versions of Wagner’s hypothesis given by different economists have been estimated which support the exi...
How have Mergers and Acquisitions Affected Financial Performance of Firms in Indian Manufacturing Sector?
The paper examines how mergers and acquisitions (M&As) in India after initiation of reforms in 1991 have affected firms’ financial performance. Using panel data and applying the method of difference GMM, it is found that...
A Forecasting Model for Japan's Unemployment Rate
This note aims to achieve a parsimonious fractionally-integrated autoregressive and moving average (ARFIMA) model for recent time series data of Japan's unemployment rate. A brief review of the ARFIMA model is provided,...
Export-Orientation of Foreign Manufacturing Affiliates in India: Factors, Tendencies and Implications
This paper addresses an important development issue in the literature of international production, namely, what motivates market-seeking foreign direct investment (FDI) to undertake export activities. It is well recogniz...