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Cross-border Mergers and Acquisitions (M&As) in Developing Asia: The Role of Financial Variables

Rabin Hattari and Ramkishen Rajan ()
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Rabin Hattari: World Bank

No 362009, Working Papers from Hong Kong Institute for Monetary Research

Abstract: This paper examines cross-border M&A activities in a large panel which includes many developing Asian economies. How important are financial drivers of M&As in the region, particularly financial risks such as market risk, credit risk, and liquidity risk? How significant are intra-(developing) Asian M&As and are there differences between intra-regional M&A transactions and M&A purchases by extra-regional sources in developing Asia? These are among the issues explored in this paper using a novel dataset of bilateral M&A purchases in developing Asia over the period 2000-2007.

Keywords: Developing Asia; Distance; Finance; Foreign Direct Investment (FDI); Gravity Model; Greenfield investment; Mergers and Acquisitions (M&As); Risks (search for similar items in EconPapers)
JEL-codes: F21 F23 F36 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2009-12
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