Impact of carbon emissions, renewable and non-renewable energy consumption on inbound cross-border mergers and acquisition’s investment inflow

Chandrika Raghavendra (), Rampilla Mahesh (), Muhammad Kamran Khan (), Vishal Dagar (), Sanjeet Singh () and Rafael Alvarado ()
Additional contact information
Chandrika Raghavendra: Great Lakes Institute of Management
Rampilla Mahesh: Amrita Vishwa Vidyapeetham
Muhammad Kamran Khan: Bahria University
Sanjeet Singh: Indian Institute of Management Lucknow
Rafael Alvarado: Universidad Espritu Santo

Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2025, vol. 27, issue 6, No 71, 14123-14142

Abstract: Abstract We investigate the impact of carbon emission, renewable, and non-renewable energy consumption of countries on India’s inbound cross-border mergers and acquisitions volume by using 769 country-pair-year observations gathered from Thomson Reuters EIKON database covering the study period from 1990 to 2020. The Tobit regression model results indicate that India is attracting lesser emitting countries; however, acquirers find it unattractive to invest through cross-border mergers and acquisitions as emission increases. Moreover, when countries’ renewable energy consumption is high, India receives less cross-border mergers and acquisitions volume. Furthermore, the non-renewable energy consumption of the India makes it attractive for cross-border mergers and acquisitions. This indicates that India is attracting lesser carbon-emitting countries to invest more through cross-border mergers and acquisitions and is potentially a pollution haven for countries looking for migration of carbon emissions, high renewable and non-renewable-energy consumption. We urge the policymakers and economists to strengthen the foreign direct investment policies to avoid culprit multinationals entering India to migrate carbon risk.

Keywords: Cross-border mergers and acquisitions; CO2 Emissions; Renewable energy consumption; Non-renewable energy consumption; Pollution haven hypothesis (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s10668-024-04511-x Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:endesu:v:27:y:2025:i:6:d:10.1007_s10668-024-04511-x

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/10668

DOI: 10.1007/s10668-024-04511-x

Access Statistics for this article

Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development is currently edited by Luc Hens

More articles in Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().