Cross-border mergers and acquisitions: Evidence from the Indochina region

被引：1
|
作者：
Ekkayokkaya, Manapol [1 ]
Foojinphan, Pimnipa [1 ]
Wolff, Christian C. F. [2 ,3 ]
机构：
[1] Chulalongkorn Univ, Chulaiongkom Business Sch, Bangkok, Thailand
[2] Univ Luxembourg, Luxembourg Sch Finance, Luxembourg, Luxembourg
[3] CEPR, London, England
来源：
FINANCE RESEARCH LETTERS | 2017年 / 23卷
关键词：
Foreign direct investment; Colonial history; South-East Asia; DETERMINANTS; GROWTH; TRADE;
D O I：
10.1016/j.frl.2017.06.009
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We study cross-border mergers and acquisitions (M&As) in ten countries in the Indochina region during the period 1993-2015. Countries with a French colonial history showed markedly lower levels of cross-border M&As (value as well as volume) than other countries, whether previously colonized or not. This difference persists even after accounting for the known drivers of cross-border M&A activity, including legal origin, trade openness, and labor cost levels. Together, these findings suggest that the colonial past of a country plays an important role in cross-border M&A activity. (c) 2017 Elsevier Inc. All rights reserved.
引用
收藏
页码：253 / 256
页数：4
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