Rossi, Stefano (contributor); Volpin, Paolo (contributor) - 2002 - [Elektronische Ressource]
. Control factors, X, are GDP Growth, as a
9
proxy for the change in economic conditions, and the logarithm of the 1995 per …
the investor protection of both acquirer and target. The control variables, X
s,b
,are:the
logarithm of GNP per Capita of … target-country level and X are control factors.
The reason why we consider only Shareholder Protection as a proxy for …