Moore, Winston; Stephen, Jeremy - Volkswirtschaftliche Fakultät, … - 2006
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 …