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| Karolyi, G. Andrew; Liao, Rose C.. |
| We examine the motives for and consequences of 5,317 failed and completed cross-border acquisitions constituting $619 billion of total activity that were led by government-controlled acquirers over the period from 1990 to 2008. We benchmark this activity at the aggregate country level and also at the deal level with cross-border acquisitions involving corporate acquirers over the same period. We find that government-led deal activity is relatively more intense for geographically-closer countries, but also relatively less sensitive to differences in the level of economic development of the acquirer’s and target’s home countries, in the quality of their legal institutions and accounting standards, and to how stringent are restrictions on FDI flows in their... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Government-controlled Acquirers; Cross-Border Acquisitions; Financial Economics; G15; G34. |
| Ano: 2010 |
URL: http://purl.umn.edu/60686 |
