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This paper assesses whether cross-border M and A decisions exhibit network effects. We estimate exponential random graph models (ERGM) and temporal exponential random graph models (TERGM) to evaluate the determinants of cross-country M and A investments at the sectoral level. The results show...
Persistent link: https://www.econbiz.de/10012154966
We develop and test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data on cross-border mergers and acquisitions (M&A) and corporate governance in 22 countries, we find that cross-border M&As are associated with...
Persistent link: https://www.econbiz.de/10014394542
The paper focuses on the impact of diversification on bank performance and how consolidation through mergers and … indigenous banks, as compared to foreign competitors in the ECCU. We then simulate bank mergers both within and across ECCU … countries by combining individual banks' balance sheets. The simulation shows that a typical indigenous bank could better …
Persistent link: https://www.econbiz.de/10011852546
This paper analyses the process of disintermediation, the progress in consolidation, the impact of new technologies, and the role of ownership and control structures for the euro area banking sector. The impact of these trends on competition policy, ""too big to fail"" concerns, and financial...
Persistent link: https://www.econbiz.de/10014403646
Persistent link: https://www.econbiz.de/10010389796
Over the last decade China's investment in Latin America and the Caribbean (LAC) has increased substantially in volume and become more diversified from natural resources to other industries. Using cross-border mergers and acquisitions data, we demonstrate that since mid-2010s China's overseas...
Persistent link: https://www.econbiz.de/10012612332
a less efficient allocation of failed banks. Our results provide new insights into the bank resolution process and the …
Persistent link: https://www.econbiz.de/10011763817
Different levels of corporate leverage are used in this paper to help explain the wide range of post-crisis output adjustment across East Asia. In the model developed here, highly leveraged firms facing a cutoff of capital inflows are threatened by bankruptcy. These firms respond by eliminating...
Persistent link: https://www.econbiz.de/10014400639
Analyses of debt relief that focus on the behavior of debtors and existing creditors understate the incentives for collective action by creditors. It is well known that debt relief could benefit existing creditors by providing incentives for domestic investment by residents of debtor countries....
Persistent link: https://www.econbiz.de/10014396061
foreign bank ownership on the performance and market power of acquired banks operating in Central and Eastern Europe. This … investors. We show that during three years after the takeover, banks have become more profitable due to cost minimization and … borrowers in terms of lower lending rates. Previous studies failed to pick up the improvements in performance of takeover banks …
Persistent link: https://www.econbiz.de/10014404324