کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
1001893 937274 2011 10 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Explaining the trends in the UK cross-border mergers & acquisitions: An analysis of macro-economic factors
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
پیش نمایش صفحه اول مقاله
Explaining the trends in the UK cross-border mergers & acquisitions: An analysis of macro-economic factors
چکیده انگلیسی

Most of the growth in international production over the past decades has been via cross-border mergers and acquisitions (CBM&As). Yet prior studies examining the trajectory of cross-border M&A activities as an entry mode of FDI have focused on industry and firm level factors. Dunning (2009) emphasised the importance of macroeconomic variables which may explain foreign direct investment and called for more research to improve our understanding on the effects of macroeconomic variables. Building on prior studies, this study attempts to investigate the role of macroeconomic influences on CBM&As activities in the UK over the 1987–2006 period. This study finds that GDP, exchange rate, interest rate and share prices have significant impact on the level of outward UK CBM&As. On the other hand, GDP, money supply and share price have statistically significant impact on the UK CBM&As inflows.

Research highlights▶ We examine macroeconomic influences on mergers and acquisitions activities ▶ Selected macroeconomic variables influence inward and outward CBM&As. ▶ Further evidence that macroeconomic factors are important location factors.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Business Review - Volume 20, Issue 5, October 2011, Pages 547–556
نویسندگان
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