Risk and synergy of multinational enterprise mergers and acquisitions under the background of the COVID-19 pandemic

Junpeng Zhang, Deliang Pang, Leijing Yang and Wenjun Ouyang

Economic Analysis and Policy, 2023, vol. 78, issue C, 718-729

Abstract: This study includes economic policy uncertainty measures and the magnitude and frequency of Asia pacific multinational business Mergers and acquisitions in 11 countries from 2009 to 2019 to evaluate the impact of uncertainty in economic policies (E.P.U) of global organizations mergers and acquisitions (M&A). To demonstrate that uncertainty in the home nation’s economic policy significantly restricts multinational enterprise Mergers and acquisitions, uncertainty in the nation’s economic policy significantly enhances Mergers and acquisitions, and that when the economy is in a pro-cyclical phase, these effects are reduced. Furthermore, the economic crisis has different effects of the country’s uncertain economic policies on worldwide firm M&As. There is a significant negative correlation between the country’s economic policy uncertainty and multinational firm Merger and acquisitions. Third, multinational firm Mergers and acquisitions are significantly impacted by economic policy uncertainties in the ASEAN (Association of Southeast Asian Nations) but not much in emerging countries. The size of M&A is considerably positively connected with foreign market expansion and variations in uncertainties.

Keywords: ASIAN countries; Economic policy uncertainty; GDP; Inflation; Mergers and acquisitions; Tax (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:78:y:2023:i:c:p:718-729

DOI: 10.1016/j.eap.2023.03.025

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