Governance as a determinant of announced cross-border mergers and acquisitions

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Title: Governance as a determinant of announced cross-border mergers and acquisitions
Author: Dodge, Nancy Marie
Abstract: ABSTRACT Employing negative binomial regression , this dissertation investigates the impact of nation -state governance attributes on announced cross -border M &A activity . A positive relationship between “good” governance and cross -border M &A activity is observed . In particular , voice and accountability , political stability , government effectiveness , regulatory quality , and control of corruption are found to be significant determinants of cross -border M &A activity , holding other macro country variables constant . These findings extend current research on individual , firm -level and country -level explanations of strategic drivers of cross -border M &A activity . The practical application of this type of study is that it is informative for firm strategy , risk analyses , and due diligence processes in terms of host country identification , mode selection , and potential mode outcomes . In terms of the nation -state , there have been calls for better governance , but the precise factors influencing the attraction of cross -border M &A and other forms of FDI are not known . This study increases our understanding of governance and its effects on FDI , adding to the findings of comparative political economy . This study , therefore , has the potential to inform Corporate CEOs and senior -level managers , along with policy makers , about the nation -state attributes that foster favorable business climates , which in turn advance growth in FDI , economic development , and share -holder profits .
URI: http : / /hdl .handle .net /2346 /12814
Date: 2006-12

Citation

Dodge, Nancy Marie Governance as a determinant of announced cross-border mergers and acquisitions. Doctoral dissertation, Texas Tech University. Available electronically from http : / /hdl .handle .net /2346 /12814 .

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