Economic Analysis of M&As: Why has the number of M&As increased? (Japanese)

Yasuhiro Arikawa and Hideaki Miyajima

Discussion Papers (Japanese) from Research Institute of Economy, Trade and Industry (RIETI)

Abstract: The rapid increase in the number of mergers and acquisitions (M&As) from the 1990s onward can be attributed primarily to a type of shock to the growth and/or profitability of certain industries and corporations. Characteristics of industries and corporations subject to particularly aggressive M&A activities include higher growth opportunities, high profitability and lower debt ratios. In this regard, it is fair to say that M&As from the 1990s onward have been used by companies and industries with higher growth opportunities as a tool to turn these opportunities into reality.

Pages: 27 pages
Date: 2006-04
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Persistent link: https://EconPapers.repec.org/RePEc:eti:rdpsjp:06034

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