Mergers and Acquisitions in Latin America: Industrial Productivity and Corporate Governance
32 Pages Posted: 20 Mar 2016
Date Written: March 18, 2016
This paper examines the impact of industrial productivity on transnationals M&As from OECD countries towards Latin American countries in the period 1996 to 2010. It also analyzes the relationship between external mechanism of corporate governance and transnational M&As. For this purpose we use a gravitational model at the industry level. We find that industry productivity and higher standards of corporate governance in the country of origin promote transnational M&As activity. However, it is also found that higher levels of capital and technological productivity decreases transnational M&As activity.
Keywords: Mergers and Acquisitions, Industry Productivity, Corporate Governance
JEL Classification: F30, G34, L21
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