How have Mergers and Acquisitions Affected Financial Performance of Firms in Indian Manufacturing Sector?
Journal Title: Eurasian Journal of Business and Economics - Year 2019, Vol 12, Issue 23
Abstract
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 neither market concentration nor M&As affected firms’ financial performance because of the multidirectional structure-conduct-performance relationships. Instead, interindustry differences in performance have been caused by capital intensity, efforts relating to marketing and distribution, and foreign technology. The findings suggest for a relook at the competition policies and laws, international trade, investment and technology development as they influence financial performance through market structure along with firms’ business strategies, efficiency and competitiveness.
Authors and Affiliations
Pulak MISHRA
Keywords
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- EP ID EP600923
- DOI 10.17015/ejbe.2019.023.05
- Views 52
- Downloads 0
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