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The Domestic And Foreign Investors Takeover Bid Decision: Case Of Romania

Author

Listed:
  • Laura Brad

    (Bucharest University of Economic Studies)

  • Radu Ciobanu

    (Bucharest University of Economic Studies)

  • Anca Munteanu

    (Bucharest University of Economic Studies)

  • Florin Dobre

    (Bucharest University of Economic Studies)

Abstract

The aim of this study is to identify whether foreign and domestic investors have different interests when it comes to acquiring a company. Our database consists of all takeover bids on the Romanian capital market made between 2004 and 2011.The results of our analysis show that while domestic investors look after a quick and profitable business, the foreigners search for long sustainability and long-term profitability elements than can influence the audited process and the way financing is obtained. Another main finding is that domestic investors focus their capital on companies in services or food and agriculture industries while the foreign investors are looking for obtaining profit by investing in companies from industry or construction areas.

Suggested Citation

  • Laura Brad & Radu Ciobanu & Anca Munteanu & Florin Dobre, 2013. "The Domestic And Foreign Investors Takeover Bid Decision: Case Of Romania," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(Special I), pages 131-137, March.
    • Handle: RePEc:agr:journl:v:xx:y:2013:i:special-i:p:131-137
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