Implications Of Cross-Border Mergers and Acquisitions By TNCs in Developing Countries: A Beginner's Guide
International mergers and acquisitions have become the preferred mode of overseas investment by multinational companies, accounting for the bulk of FDI in the developed world and for increasing shares in the developing world. However, many governments express concern about this mode of MNC entry, preferring 'greenfield' investments to the takeover of national firms. This paper provides an overview of the main economic costs and benefits that may be involved and argues that M&As do have costs but these may be over-stated.
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- Görg, Holger, 1998. "Analysing Foreign Market Entry: The Choice between Greenfield Investment and Acquisitions," Economics Technical Papers 981, Trinity College Dublin, Department of Economics.
- Bruce Kogut & Harbir Singh, 1988. "The Effect of National Culture on the Choice of Entry Mode," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 19(3), pages 411-432, September.
- Gonzalez, Pedro & Vasconcellos, Geraldo M. & Kish, Richard J., 1998. "Cross-border mergers and acquisitions: The undervaluation hypothesis," The Quarterly Review of Economics and Finance, Elsevier, vol. 38(1), pages 25-45.
- Henrik Bresman & Julian Birkinshaw & Robert Nobel, 1999. "Knowledge Transfer in International Acquisitions," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 30(3), pages 439-462, September.
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