Evidence of fire-sale M&A in European transition countries

Višić, Josipa

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Title:	Evidence of fire-sale M&A in European transition countries
Authors:	ID Višić, Josipa (Author)
Files:	http://www.fm-kp.si/zalozba/ISSN/1581-6311/10_325-340.pdf
Language:	English
Work type:	Not categorized
Typology:	1.01 - Original Scientific Article
Organization:	FM - Faculty of Management
Abstract:	The aim of this paper is to determine differences in variables that create investment climate and therefore affect the values of incoming crossborder M&A in selected European transition countries. Cluster analysis for 1999 and 2007 shows that countries with unfavourable investment climate received high levels of incoming cross-border M&A. Sole country in the cluster characterised by healthy investment area (Slovenia) had the highest gdp per capita accompanied with the lowest values of incoming cross-border M&A relative to its GDP. These results could be interpreted as an evidence of fire-sale M&A in most European transition countries. In 2010, situation changed and although recession left trace, data on cross-border M&A indicate that foreign investors focused more on companies which operated in countries with healthier economy. These results indicate that a healthy investment climate is necessary to provide a sustainable economic development of a country.
Keywords:	mednarodne združitve in pripojitve, tržna cena, trajnostni gospodarski razvoj, investicijsko okolje
Year of publishing:	2012
Number of pages:	str. 325-340
Numbering:	Vol. 10, no. 4
PID:	20.500.12556/RUP-3400
ISSN:	1854-6935
UDC:	339.9:336.581
COBISS.SI-ID:	4638679
Publication date in RUP:	15.10.2013
Views:	4837
Downloads:	77
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Secondary language

Language:	Slovenian
Keywords:	cross-border M&A, fire-sale M&A, sustainable economic development, investment climate

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