Fractional integration and cointegration in merger and acquisitions in the US petroleum industry

Manuel Monge and Luis Gil-Alana

Applied Economics Letters, 2016, vol. 23, issue 10, 701-704

Abstract: This article employs methodologies based on fractional integration and cointegration to analyse the time-series properties of merger and acquisitions (M&A) activity and crude oil prices in the US from 1980 to 2012. Our results indicate that an increase in the crude oil price produces a significant increase in the M&A data between 2 and 3 months after the initial shock.

Date: 2016
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DOI: 10.1080/13504851.2015.1100245

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