Determinants of Cross-Border M&As in Developing Countries. Investments in the BRICS Countries

Inhaltsverzeichnis (Table of Contents)

• Introduction
• Importance of inbound cross-border M&As
  • Definitions and classifications
  • Theory-based explanation of cross-border M&As
  • Global trend and consequences of cross-border M&As
• Analysis of country-specific determinants of inbound cross-border M&As
  • Macroeconomic environment
    • Economic development
    • Tax incentives
    • Labour compensation
  • Political and institutional environment
    • Governance quality and corruption
    • Accounting standards
  • Financial market environment
  • Level of human capital
  • Target country's openness
• Econometric analysis
  • Data description and preparation
    • Dependent variable
    • Independent variables
  • Research model
  • Descriptive statistics
  • Results
    • Baseline results
    • Robustness test and additional analysis

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This master's thesis aims to empirically analyze the determinants of inbound cross-border mergers and acquisitions (M&As) in developing economies, specifically focusing on investments in the BRICS countries (Brazil, Russia, India, China, and South Africa). The study seeks to identify the key factors influencing foreign companies' decisions to acquire businesses in these emerging markets.

• Macroeconomic environment as a determinant of inbound cross-border M&As
• Political and institutional environment and its impact on cross-border M&As
• Role of financial market environment and human capital in cross-border M&As
• Importance of target country's openness in attracting foreign investment
• Econometric analysis of the relationship between country-specific factors and M&A volume

Zusammenfassung der Kapitel (Chapter Summaries)

• The introduction provides a brief overview of the research topic and its significance in the context of global business and economic development.
• Chapter 2 focuses on defining and classifying inbound cross-border M&As, exploring theoretical explanations for their occurrence, and analyzing the global trend and consequences of such transactions.
• Chapter 3 examines country-specific factors that influence inbound cross-border M&As, including macroeconomic factors like economic development, tax incentives, and labor compensation, as well as political and institutional factors such as governance quality, corruption, and accounting standards. It also explores the roles of the financial market environment, human capital, and target country's openness.
• Chapter 4 delves into the econometric analysis of the relationship between country-specific determinants and the volume of inbound cross-border M&As. It describes the data preparation, research model, and statistical results obtained from the analysis.

Schlüsselwörter (Keywords)

This master's thesis focuses on key concepts such as inbound cross-border M&As, developing economies, BRICS countries, macroeconomic factors, political and institutional environment, financial market environment, human capital, target country's openness, econometric analysis, and statistical modeling.