International Corporate Governance Spillovers : Evidence from Cross-Border Mergers and Acquisitions /

We develop and test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data on cross-border mergers and acquisitions (M and A) and corporate governance in 22 countries, we find that cross-border M and As are associated with su...

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Détails bibliographiques
Auteur principal: Albuquerque, Rui
Autres auteurs: Brandao Marques, Luis, Ferreira, Miguel, Matos, Pedro
Format: Revue
Langue:English
Publié: Washington, D.C. : International Monetary Fund, 2013.
Collection:IMF Working Papers; Working Paper ; No. 2013/234
Accès en ligne:Full text available on IMF
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100 1 |a Albuquerque, Rui. 
245 1 0 |a International Corporate Governance Spillovers :   |b Evidence from Cross-Border Mergers and Acquisitions /  |c Rui Albuquerque, Luis Brandao Marques, Miguel Ferreira, Pedro Matos. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2013. 
300 |a 1 online resource (41 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a We develop and test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data on cross-border mergers and acquisitions (M and A) and corporate governance in 22 countries, we find that cross-border M and As are associated with subsequent improvements in the governance, valuation, and productivity of the target firmsa' local rivals. This positive spillover effect is stronger when the acquirer is from a country with stronger shareholder protection and if the target's industry is more competitive. We conclude that the international market for corporate control promotes the adoption of better corporate governance practices around the world. 
538 |a Mode of access: Internet 
700 1 |a Brandao Marques, Luis. 
700 1 |a Ferreira, Miguel. 
700 1 |a Matos, Pedro. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2013/234 
856 4 0 |z Full text available on IMF  |u https://elibrary.imf.org/openurl?genre=journal&issn=1018-5941&volume=2013&issue=234  |z IMF e-Library