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    题名: 東亞併購市場：過去二十年大中華區跨國併購交易之研究
    East Asian M&A: Determinants of Cross-Border Deal Value from Greater China
    作者: 安思河
    Scott Anderson
    贡献者: 傅冶天
    安思河
    Scott Anderson
    关键词: 東亞併購市場
    日期: 2008
    上传时间: 2009-09-17 18:53:42 (UTC+8)
    摘要: 過去二十年大中華區跨國併購交易之研究
    This paper focuses on the trends and determinants of merger and acquisition (M&A) deal flows from acquiring firms located in China, Hong Kong and Taiwan to target firms across these boundaries. Based on gravity hypotheses – that larger target market sizes increase M&A activity and greater distance (cultural, administrative, geographic, and economic differences) between acquirer and target decrease activity – statistical techniques are used to provide a “first cut” identification of motivations for M&A activity and of tendencies for acquirer firms to pay more or less than a theoretical standardized M&A event based on the results.
    參考文獻: Alan Heston, Robert Summers and Bettina Aten, Penn World Table Version 6.2, Center for International Comparisons of Production, Income and Prices at the University of Pennsylvania, September 2006. Available online at http://pwt.econ.upenn.edu/.
    Anderson, J., and E. van Wincoop (2003), “Gravity with gravitas: A solution to the border puzzle,” American Economic Review 93: 170-192.
    Bergstrand, J.H., and P. Egger (2007), “A knowledge-and-physical-capital model of international trade flows, foreign direct investment, and multinational enterprises,” Journal of International Economics 73: 278-308.
    Blonigen, B.A., R.B. Davies, G.R. Waddell, H.T. Naughton (2007), “FDI in Space: Spatial autoregressive relationships in foreign direct investment”, European Economic Review, Vol.51, pp. 1303-1325.
    Brakman, S. and H. Garretsen, eds. (2008), Foreign Direct Investment and the Multinational Enterprise, MIT Press, Cambridge Mass.
    Brakman, S., G. Garita, H. Garretsen, and C. Van Marrewijk (2008), “The value of cross-border mergers and acquisitions,” CESIFO Working Paper, No. 2294, May. Available online at www.SSRN.com.
    Chakrabarti, R., N. Jayaraman and S. Mukherjee (2006), “Mars-Venus marriages: culture and cross-border M&A,” working paper, December 2006.
    Chinn, M., and H. Ito (2002), “Capital account liberalization, institutions and financial development: Cross-country evidence,” NBER working paper No. 8967.
    Chinn, M., and H. Ito (2005), “What matters for financial development? capital controls, institutions, and interactions,” NBER working paper No. 11370.
    Chinn, M. and H. Ito (2007), “A new measure of financial openness,” working paper, May.
    Deardorff, A.V. (1998), “Determinants of bilateral trade: does gravity work in a neoclassical world?,” in Regionalization of the World Economy, J. A. Frankel ed., Chicago: University of Chicago Press, pp. 7-22.
    di Giovanni, J. (2005), “What drives capital flows? the case of cross-border Mergers and Acquisitions activity and financial deepening,” Journal of International Economics 65:127-149.
    Evenett, S. (2004), “The cross border merger and acquisitions wave of the late 1990s,” in: R. Baldwin and L. Winters (eds), Challenges to Globalization, Chicago, University of Chicago Press.
    Franco, C., F. Rentocchini and G.V. Marzetti, (2008), “Why do firms invest abroad? An analysis of the motives underlying foreign direct investments,” Universita Delgi Studi Di Trento, Departimento Di Economia, Discussion Paper No. 17.
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    描述: 碩士
    國立政治大學
    國際經營管理碩士班(IMBA)
    94933029
    97
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G0094933029
    数据类型: thesis
    显示于类别:[國際經營管理英語碩士學程IMBA] 學位論文

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