BUSINESS GROUP AFFILIATION AND LOCATION OF INDIAN FIRMS' FOREIGN ACQUISITIONS

Jaya Prakash Pradhan and Neelam Singh ()
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Neelam Singh: Economics Department, Lady Shri Ram College, Delhi University New Delhi-110024, India

Journal of International Commerce, Economics and Policy (JICEP), 2011, vol. 02, issue 01, 19-41

Abstract: This study examines the determinants of host-location of cross-border acquisitions by Indian Business Group (BG)-affiliates and other firms during 2000–2008. Our empirical estimates indicate the general attraction of host country market-size and double-taxation-avoidance treaty. However, unlike the standalone firms, the acquisition-location of BG-affiliates is favourably influenced by the host growth rate and bilateral investment treaty, apparently drawn to distant nations, and not significantly affected by the cultural proximity. The host's share of home exports affects relatively more the acquisition-location of standalone firms. Thus the derived resources/ parental networks of BG-affiliated emerging market multinational enterprises influence their outward-FDI locational pattern.

Keywords: Cross-border M&As; OFDI location; business groups; standalone firms; EMNEs; G34; F21; F23; L22 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (5)

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DOI: 10.1142/S1793993311000208

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