Journal article
Cross-country determinants of mergers and acquisitions
Journal of financial economics, v 74(2), pp 277-304
01 Nov 2004
Abstract
We study the determinants of mergers and acquisitions around the world by focusing on differences in laws and regulation across countries. We find that the volume of M&A activity is significantly larger in countries with better accounting standards and stronger shareholder protection. The probability of an all-cash bid decreases with the level of shareholder protection in the acquirer country. In cross-border deals, targets are typically from countries with poorer investor protection than their acquirers’ countries, suggesting that cross-border transactions play a governance role by improving the degree of investor protection within target firms.
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Details
- Title
- Cross-country determinants of mergers and acquisitions
- Creators
- Stefano Rossi - London Business SchoolPaolo F. Volpin - London Business School
- Publication Details
- Journal of financial economics, v 74(2), pp 277-304
- Publisher
- Elsevier
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Finance
- Web of Science ID
- WOS:000225026100003
- Scopus ID
- 2-s2.0-7444246169
- Other Identifier
- 991021861839204721
InCites Highlights
Data related to this publication, from InCites Benchmarking & Analytics tool:
- Web of Science research areas
- Business, Finance
- Economics