Repository logo
  • English
  • Deutsch
Log In
or
  1. Home
  2. HSG CRIS
  3. HSG Publications
  4. The Cross Border Mergers and Acquisitions Wave of the Late 1990s
 
  • Details

The Cross Border Mergers and Acquisitions Wave of the Late 1990s

Series
National Bureau of Economic Research Conference Report
ISBN
0-226-03615-4
Type
book section
Date Issued
2004
Author(s)
Evenett, Simon J.  
Editor(s)
Baldwin, Robert E.
Winters, L. Alan
Abstract
To establish a benchmark, the cross border mergers and acquisitions wave of the late 1990s is compared to its predecessor in the late 1980s. It is found to be at least five times larger (in real terms), to involve firms from more OECD nations, and to include many more service sector transactions. However, in comparison to the size of national stock market capitalizations, foreign mergers with and acquisitions of domestic firms during this latest wave were small, especially in the Group of Seven leading industrial economies. The effect of cross border mergers and acquisitions on performance in one important service sector, banking, is also examined. Specifically, the relative importance of cross border mergers and acquisitions, domestic mergers and acquisitions, domestic entry and exit, and strategic alliances and joint ventures for interest rate spreads was estimated for 13 industrial nations. The principal findings suggest that the effects of these firm-driven changes in banking market structure differ markedly between EU member states and non-EU industrialized economies. This highlights the importance of differentiating between types of cross border inter-firm agreements and the pitfalls of generalising about the effects of the latest wave of cross border mergers and acquisitions-as many of the harshest critics of globalization do.
Language
English
Keywords
mergers and acquisitions
HSG Classification
not classified
Refereed
No
Book title
Challenges to Globalization
Publisher
University of Chicago Press
Publisher place
Chicago
Start page
411
End page
467
Pages
57
URL
https://www.alexandria.unisg.ch/handle/20.500.14171/68433
Subject(s)

other research area

Division(s)

SIAW - Swiss Institut...

SEPS - School of Econ...

ES - Executive School...

Eprints ID
22226
File(s)
Loading...
Thumbnail Image

open.access

Name

evenettoncrossbordermergersacquisitions.pdf

Size

2.03 MB

Format

Adobe PDF

Checksum (MD5)

7e6a8d5f9b027a6290d6ad94b990007b

here you can find instructions and news.

Built with DSpace-CRIS software - Extension maintained and optimized by 4Science

  • Privacy policy
  • End User Agreement
  • Send Feedback