Mergers and Acquisitions in Latin America: Industrial Productivity and Corporate Governance
Lina Cortés (),
Iván A. Durán,
Sandra Gaitán and
Emerging Markets Finance and Trade, 2017, vol. 53, issue 10, 2179-2198
This article examines the impact of industrial productivity in the country of origin on transnationals M&As, directed from OECD countries toward Latin America in the period 1996–2010. It also analyzes the relationship between external mechanisms of corporate governance and transnational M&As. Employing a gravitational model at the industry level, we find that industry productivity in the country of origin promotes transnational M&A activity, although capital productivity affects it negatively. We also find evidence that higher standards of corporate governance in both origin and destination countries increase the likelihood of transnational M&As taking place.
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Working Paper: Mergers and Acquisitions in Latin America: Industrial Productivity and Corporate Governance (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:53:y:2017:i:10:p:2179-2198
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