Long Memory in Mergers and Acquisitions: Sectoral Evidence for an Emerging Economy

Marcelo Resende

Economics Bulletin, 2012, vol. 32, issue 4, 2876-2883

Abstract: The paper aims at testing for the presence of long memory in domestic and cross border mergers and acquisitions in Brazil along the 2002-1/2011-4 period. The evidence from the estimation of fractional ARIMA models at the sectoral level provided scant evidence of the presence of persistent long memory processes. The results display contrast with previous aggregate evidence and sectoral evidence for developed countries. In fact, except for a few cases, with a strong example in financial institutions, one cannot detect salient persistent patterns

Keywords: mergers and acquisitions; long memory; persistence (search for similar items in EconPapers)
JEL-codes: C1 M2 (search for similar items in EconPapers)
Date: 2012-10-16
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