Abstract

VASCO, Mateo; CORTES, Lina M; GAITANA, Sandra  and  DURAN, Iván A. Mergers and acquisitions in Latin America, corporate governance and gravity model. Journal of Economics, Finance and Administrative Science [online]. 2014, vol.19, n.37, pp.108-117. ISSN 2077-1886.  http://dx.doi.org/10.1016/j.jefas.2014.10.003.

In this study, and by making use of a gravity model, an analysis is made on whether transnational mergers and acquisitions (M & A) are influenced by the corporate governance standards of a country. The study only focuses on the M & A flows from the OECD countries towards Latinamerican economies, as well as using the Kaufmann indicators for measuring, among others, the corporate governance of a country. Evidence is found that the gravity model is explicative of the M & A flows, and that the better the level of corporate governance at both origin and destination countries, the greater is the M & As activity.

Keywords : Mergers and acquisitions; Corporate governance; Gravity model.

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