Sectoral Growth Effects of Cross-Border Mergers and Acquisitions

Sectoral Growth Effects of Cross-Border Mergers and Acquisitions

We analyze the impact on growth of cross-border mergers and acquisition (M&A) sales. Using the GMM methodology we find that most economies benefit from financial service M&A sales. However, some type of capital flows may hurt growth. In some cases M&A sales in manufacturing and the prima...

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Veröffentlicht in:Eastern economic journal 2012-07, Vol.38 (3), p.319-330
Hauptverfasser: Doytch, Nadia, Uctum, Merih
Format: Artikel
Sprache:eng
Schlagworte:
Acquisitions & mergers
Capital movement
Causality
Consumer economics
Corporate mergers
Economic growth
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Finance
Extractive industries
F21
F43
Financial services
Foreign investment
G34
GDP
Gross Domestic Product
Growth models
Impact analysis
Industrial economics
Manufacturing
Manufacturing industries
Mixed economies
Productivity
Sales growth
Securities markets
Service industries
Spillover effect
Studies
Value added
Variables
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Zusammenfassung:We analyze the impact on growth of cross-border mergers and acquisition (M&A) sales. Using the GMM methodology we find that most economies benefit from financial service M&A sales. However, some type of capital flows may hurt growth. In some cases M&A sales in manufacturing and the primary sector may lead to deindustrialization in manufacturing industry and/or services industries.
ISSN:0094-5056
1939-4632
DOI:10.1057/eej.2011.16