A Note on Cross-Border Mergers and Investment

The theoretical literature suggests that there should be a bi-directional relationship between investment and mergers. This essay uses homogenous and heterogeneous panel Granger causality tests to examine this hypothesis. The paper finds that in high-income countries, cross-border mergers tend to Granger cause investment, while in low- to middle-income countries, investment Granger causes mergers.

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Year of publication:	2006-03-29
Authors:	Moore, Winston ; Stephen, Jeremy
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	Mergers \| Investment \| Causality \| Panel Data

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Classification:	E22 - Capital; Investment (including Inventories); Capacity ; C23 - Models with Panel Data ; G34 - Mergers; Acquisitions; Restructuring; Corporate Governance
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008529256