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The Russian Market for Mergers and Acquisitions: Stages, Peculiarities and Outlooks

Author

Listed:
  • Alexander Radygin

    (Gaidar Institute for Economic Policy)

Abstract

In this paper we extend the stationarity test proposed by Kurozumi and Tanaka (2010) for reducing size distortion with one structural break. We find the bias up to the order of 1/T for four types of models containing structural breaks. The simulations on finite samples show a reduction of size distortions in comparison with other tests, thus receiving higher power.

Suggested Citation

  • Alexander Radygin, 2012. "The Russian Market for Mergers and Acquisitions: Stages, Peculiarities and Outlooks," Working Papers 0045, Gaidar Institute for Economic Policy, revised 2012.
    • Handle: RePEc:gai:wpaper:0045
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    File URL: https://www.iep.ru/files/RePEc/gai/wpaper/0045Radygin.pdf
    File Function: Revised version, 2012
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    More about this item

    Keywords

    Mergers; acquisitions; Russian economy; corporate law; corporate governance;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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