The impact of cross-border mergers on investment

Winston Moore

Applied Economics Letters, 2008, vol. 15, issue 12, 981-984

Abstract: This article examines the empirical link between mergers and investment using a panel of 61 developed and developing countries between 1987 and 2001. The results indicate that, on average, a rise in cross-border merger and acquisition activity tends to reduce investment. However, in high-income countries, the number of mergers had a positive impact on investment. This finding could be due to stock market inefficiencies in these low- to middle-income countries.

Date: 2008
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DOI: 10.1080/13504850600972212

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