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Internal capital markets in cross-border mergers and acquisitions; a financial market development perspective

Cross-border M&A’s have been gaining momentum in the past decades. As growth opportunities are becoming scarce, more and more multinational corporations seek their expansion opportunities across the border through M&A’s. Whether these cross-border M&A’s add value has been a heavily debated topic. This research takes a value adding perspective by showing the effect of financial market development and capital dependence on the abnormal returns of acquiring firms from the US. Our results show that the effects of financial development and capital dependence are statistically significant, but their financial significance is small.

Identiferoai:union.ndltd.org:UPSALLA1/oai:DiVA.org:uu-347196
Date January 2018
CreatorsValk, Floris Joost
PublisherUppsala universitet, Företagsekonomiska institutionen
Source SetsDiVA Archive at Upsalla University
LanguageEnglish
Detected LanguageEnglish
TypeStudent thesis, info:eu-repo/semantics/bachelorThesis, text
Formatapplication/pdf
Rightsinfo:eu-repo/semantics/openAccess

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